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Bank of America settles mortgage probes with DOJ for $16.65 billion

Aug 21, 2014

Bank of America settles mortgage probes with DOJ for $16.65 billion

Bank of America Corp. has reached a $16.65 billion settlement with U.S. regulators to settle charges that it misled investors into buying troubled mortgage-backed securities. The settlement announced on Thursday by the U.S. Department of Justice calls for the second-largest U.S. bank to pay ...

Aug 21, 2014

Think tanks revise down GDP outlook for fiscal 2014

Private think tanks have cut their estimates for Japan’s gross domestic product for fiscal 2014 after the economy reportedly shrank at its fastest pace in 13 quarters in April-June. Japan’s price-adjusted real GDP will grow only 0.5 percent in the year ending next March, ...

Aug 21, 2014

10 utilities to cut October electricity rates

All 10 of the nation’s regional power utilities plan to cut electricity prices in October, it was learned Wednesday, stretching the streak to four consecutive months as prices for liquefied natural gas and other fossil fuels continue to decline. Surcharges based on the government’s ...

Aug 21, 2014

July supermarket down fourth month since tax hike

Supermarket sales fell 2.1 percent in July from a year earlier on a same-store basis, declining for the fourth consecutive month since the April 1 consumption tax hike, an industry body said Thursday. Sales at 9,252 stores operated by 60 supermarket chains totaled ¥1.09 ...

Former Sogo chief Hiroo Mizushima dies at 102

Aug 21, 2014

Former Sogo chief Hiroo Mizushima dies at 102

Hiroo Mizushima, the former chairman of failed department store chain Sogo Co., has died of heart failure at a Tokyo hospital at the age of 102, it was learned Thursday. Mizushima, who was at the helm of Sogo for nearly 40 years, passed away ...

Aug 21, 2014

Japan logs record 1.27 million foreign visitors in July

About 1.27 million foreigners came to Japan in July, surging 26.6 percent from a year ago and the highest figure ever for a single month, government data show. The 7.53 million visitors received in the first seven months of the year also constitute a ...

Aug 21, 2014

Denso hit with $2 million fine over bid-rigging in Canada

Denso Corp., the nation’s largest manufacturer of electronic auto parts, said Thursday it had been fined $2.45 million Canadian dollars (¥200 million) by a court in Canada for breaking the competition law by rigging bids on transactions in several kinds of auto parts. The ...