Automaker is restructuring in China after losing about $350m in the region in the first three quarters of this year
General Motors told shareholders on Wednesday that it would write down the value of its China business by more than $5bn.
The company’s board of directors determined that the non-cash charges were necessary “in light of the finalization of a new business forecast and certain restructuring actions” with the joint venture, according to a company filing.
Continue reading...Opposition Democratic party lawmakers have called on Yoon Suk Yeol to resign immediately or they would seek his impeachment
South Korea’s finance ministry has said it stood ready to deploy “unlimited” liquidity into financial markets after President Yoon Suk Yeol lifted a martial law declaration he imposed overnight that pushed the won to multi-year lows, Reuters reports.
The announcement came after finance minister Choi Sang-mok and Bank of Korea governor Rhee Chang-yong held emergency talks overnight, and as the central bank board abruptly met to approve rescue measures for the local credit market.
Continue reading...Donna Nelson sentenced to six years in prison after court finds her guilty of bringing methamphetamine into country
The jailing of an Australian woman in Japan is “really distressing” for her family, the federal government has acknowledged as it committed to doing all it could to help her.
The Australian federal health minister, Mark Butler, made the promise a day after Donna Nelson was sentenced to six years for smuggling methamphetamine into Tokyo in January 2023, despite her claims she had been the victim of an online romance scam.
Continue reading...Hong Kong carrier removes episode from entertainment system after social media complaint that it might breach national security laws
Hong Kong’s flagship airline, Cathay Pacific, has apologised over the inclusion of a Family Guy episode in its inflight entertainment system that features a scene depicting Tiananmen Square.
The airline told the South China Morning Post it had apologised to customers after a complaint was raised on social media that the episode might breach Hong Kong’s national security laws.
Continue reading...Opposition parties submit motion to impeach Yoon after his shock bid to put South Korea under martial law for first time in over four decades
South Korean opposition parties have formally submitted a motion to impeach the president, Yoon Suk Yeol, over his short-lived declaration of martial law.
Early on Thursday, lawmakers presented to parliament an impeachment motion alleging that Yoon “gravely and extensively violated the constitution and the law” and accuses him of imposing martial law “with the unconstitutional and illegal intent to evade imminent investigations... into alleged illegal acts involving himself and his family”.
Continue reading...Several climbing-related items which police believe belonged to the trio found, as bad weather will likely delay search efforts until Thursday
Rescue teams looking for three climbers who went missing on New Zealand’s highest mountain have expressed “grave concerns” over the party’s welfare in the rugged terrain, as bad weather hampers search efforts for the second day in a row.
US nationals Kurt Blair, 56, and Carlos Romero, 50, and a Canadian man flew by helicopter on Saturday to a camp on Aoraki Mount Cook with plans to summit the 3,724 metre (12,218 ft) mountain.
Continue reading...Rightwing president backs down after most serious challenge to country’s democracy since 1980s
South Korea’s rightwing president has been forced to back down after he unexpectedly declared martial law only to face unanimous opposition from the national assembly, in the most serious challenge to the country’s democracy since the 1980s.
President Yoon Suk Yeol declared martial law late on Tuesday amid a dispute with opposition parties he accused of pro-North Korean sympathies and anti-state activities.
Continue reading...This blog is closed – you can follow live coverage on our new liveblog
The White House has said it is “closely” monitoring the situation in South Korea.
“The administration is in contact with the ROK government and is monitoring the situation closely,” a spokesperson for the national security council said, using the official acronym for the Republic of Korea, where thousands of US troops are based as parts of efforts to deter nuclear-armed North Korea.
All political activities are banned in South Korea following the imposition of martial law on Tuesday and all media will be subject to government monitoring.
All political activities, including those of the national assembly, local councils, political parties, and political associations, as well as assemblies and demonstrations, are strictly prohibited.
Continue reading...Yoon Suk Yeol says in late-night address that opposition parties have taken parliamentary process hostage
South Korea’s National Assembly has voted to block an attempt by the president, Yoon Suk Yeol, to declare martial law, leaving the future of his emergency measure unclear as protesters and armed forces gathered in Seoul.
There was jubilation outside the National Assembly building late on Tuesday night where hundreds of people had gathered to witness armed forces enter the building as lawmakers sat in the legislature to hold an emergency session to block Yoon’s sudden declaration.
Continue reading...Market share increases after strong demand within country offsets risks from western tariffs on Chinese-made EVs
China’s share of the global electric vehicle market reached 76% in October, the country’s automotive trade body said, reflecting strong demand for EVs in the country even as western tariffs risk hobbling exports.
Between January and October, sales of EVs reached 14.1m units, according to the China Passenger Car Association, with 69% of those sales in China. In October, China’s share surpassed three-quarters.
Continue reading...Wealth management employee charged with robbery, attempted murder and arson after home visit to elderly clients
The boss of the Japanese bank Nomura has apologised and taken a voluntary pay cut after a former employee was charged with robbery and attempted murder of a customer.
Kentaro Okuda, who has led Nomura since 2020, will take a 30% pay cut over the next three months, with several other senior managers at the bank taking similar reductions, the bank said.
Continue reading...Truong My Lan must repay three-quarters of $12bn she embezzled from bank in a case that shocked the country
The Vietnamese property tycoon Truong My Lan has lost her appeal against the death penalty for masterminding a multibillion-dollar fraud scandal – though she could still save her life if she can repay most of the funds she embezzled.
Lan, who founded the real-estate developer Van Thinh Phat, was sentenced to death in April for embezzling $12bn (£9.95bn) from Saigon Commercial Bank (SCB), in a case that shocked the country.
Continue reading...Only seven spade-tooth whales have ever been documented, now work is beginning on a specimen that washed ashore in New Zealand in July
A spade-tooth whale – thought to be the world’s rarest whale species – is undergoing dissection in New Zealand, in the first ever examination of a complete specimen.
Spade-toothed whales are a type of beaked whale named for their teeth resembling the spade-like flensing blade once used to strip whales of their blubber. Just seven have been documented since the 1800s, with all but one found in New Zealand.
Continue reading...Police said 86cm stainless steel blade – mounted on a wooden plaque and sold in the hundreds – contravened Japan’s firearms and sword control law
Full-size replica swords sold as souvenirs at a popular Harry Potter exhibition in Tokyo have fallen foul of Japan’s strict weapons control law and been recalled.
The 86cm stainless steel blade, which comes mounted on a wooden plaque, is described on the Warner Bros website that promotes the event as an “authentic recreation of Godric Gryffindor’s sword”.
Continue reading...Group of 85 countries and blocs press for ambition in plastic waste treaty after no agreement was reached in Busan
Binding global targets to cut plastic production must be at the centre of any continuing negotiations to secure the world’s first treaty to tackle plastic waste, a group of 85 countries has said.
Talks in Busan, South Korea, attempting to secure agreement between more than 200 countries on the details of a plastic pollution treaty ended in failure over the weekend.
Continue reading...Authorities in Akita prefecture had struggled to locate the animal, which attacked a man and has eaten large quantities of meat
A bear that attacked a supermarket employee in northern Japan at the weekend before apparently holing up inside for three days has been exterminated after being found in a trap local authorities had laid near the store’s entrance.
A 47-year-old man was taken to hospital suffering from facial and other injuries after the attack in the northern prefecture of Akita on Saturday morning. His injuries are not life-threatening, according to local media.
Continue reading...ICJ to hear submissions from more than 100 groups in Pacific-led campaign to provide an advisory opinion on states’ obligations for climate harm
The International Court of Justice (ICJ) is due to begin hearings in a landmark climate change case on Monday, examining what countries worldwide are legally required to do to combat climate change and help vulnerable nations fight its devastating impact.
After years of lobbying by island nations, the UN General Assembly asked the ICJ last year for an opinion on “the obligations of States in respect of climate change.”
Continue reading...Simone White, 28, was one of six tourists to die in a suspected methanol poisoning at Vang Vieng hostel
The mother of a British lawyer who died after being served a drink that was allegedly spiked with methanol has said if it can happen to her daughter it can happen to anyone.
Simone White, 28, from Orpington, Kent, was one of six tourists killed in the popular backpacking town of Vang Vieng after an alleged mass poisoning. She was taken in for surgery just as her mother, Sue, 61, arrived at the hospital. It later became clear that Simone’s brain function was gone, and she died on Thursday 21 November.
Continue reading...Directed by a woman with a cast of female leads, the film is the latest to be centred around female experiences and prove a box office success in China
The recent box office success of Her Story, a Chinese comedy directed by a woman with a cast of female leads, has led commentators to dub the movie China’s answer to Barbie.
The second feature film by Chinese director Shao Yihui, Her Story revolves around a newly unemployed single mother with a daughter and their young female neighbour, as they explore their experiences and struggles as women in Shanghai.
Continue reading...Lai Ching-te’s US stopover on trip to Marshall Islands, Tuvalu and Palau – three diplomatic allies of the self-governed island – prompts Beijing’s protests
The Taiwanese president, Lai Ching-te, has begun a two-day US stopover in Hawaii as part of a Pacific tour after declaring his democratically governed island a key force for promoting global peace and stability.
The trip has sparked fury from China, which views Taiwan as its own territory and opposes any foreign interactions or visits by the island’s leaders. China’s foreign ministry said on Sunday it had lodged “serious protests” with the US.
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