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China lockdown, chip shortage hit Nissan profits
China lockdown, chip shortage hit Nissan profits
by  AFP

Japanese car giant Nissan said on Thursday that net profit sank nearly 60 percent in the three months to June as pressures including a lockdown in Shanghai and chip shortages weighed on business. "Nissan's challenge is how to minimise the impact of the chip shortage and sell attractive new cars, including those recently released," he said.

Asia, Europe track post-Fed surge on Wall St but caution urged
Asia, Europe track post-Fed surge on Wall St but caution urged
by  AFP

Asian and European markets rose Thursday following a surge on Wall Street fuelled by hopes that the Federal Reserve could slow its pace of inflation-fighting interest rate hikes. The prospect of a slower pace of rate hikes weighed on the dollar against most other currencies, and on Thursday it hit its lowest level against the yen since July 6.

Indebted Evergrande looks to sell Hong Kong headquarters again
Indebted Evergrande looks to sell Hong Kong headquarters again
by  AFP

Troubled Chinese property developer Evergrande has found a potential buyer for its Hong Kong headquarters, reports said Thursday, days before an expected announcement of the firm's long-awaited restructuring plans. But on Thursday, Hong Kong Financial Secretary Paul Chan said the difficulties of Chinese developers would have a "very limited" impact on the financial hub's banking stability.

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