Business Topics

May 18, 2013

Cerberus extends tender for Seibu

Cerberus Capital Management LP said Thursday it will extend its tender offer for Seibu Holdings Inc. shares for two weeks until May 31 as shareholders are still making inquires about the U.S. private equity firm’s offer. Cerberus, which already holds a 32 percent stake ...

Moniz confirmed as energy secretary

May 18, 2013

Moniz confirmed as energy secretary

Physicist Ernest Moniz won unanimous Senate confirmation Thursday to be the new U.S. energy secretary. Moniz, 68, a professor at the Massachusetts Institute of Technology, replaces Steven Chu, who served as energy secretary in President Barack Obama’s first term. Moniz was an energy undersecretary ...

Economy grew at 3.5% pace in last quarter

May 17, 2013

Economy grew at 3.5% pace in last quarter

The economy enjoys a stronger than expected recovery, growing at a 3.5 percent annual pace as the government stepped up public works spending and eased credit to encourage investment.

New Google service to stream music

May 17, 2013

New Google service to stream music

Google Inc. has unveiled a streaming music service, called All Access, that blends songs users have uploaded to their online libraries with millions of other tracks for a $10 monthly fee. The service puts the Internet goliath in competition with popular paid subscription plans ...

Tariff elimination the focus of new TPP talks

May 17, 2013

Tariff elimination the focus of new TPP talks

The 11 countries involved in the Trans-Pacific Partnership free-trade negotiations began their 17th round of talks in Lima on Wednesday with the focus on whether exceptions should be made to the general rule of tariff elimination. Even though Japan gained the unanimous backing of ...

Honda looking forward to green return to F1

May 17, 2013

Honda looking forward to green return to F1

Honda Motor Co. formally announced Thursday that it will return to Formula One in 2015 as an engine supplier to British team McLaren to revive their championship-winning partnership. “We shall act as Maclaren-Honda” and are resolved to be “the No. 1, ” Honda President ...

Russians join venture's attempt to topple Google in Vietnam

May 17, 2013

Russians join venture's attempt to topple Google in Vietnam

Vietnam’s booming Internet scene is littered with failed startups that tried to take on Google and other entrenched U.S. Web companies. That is not deterring a newly launched Russian-Vietnamese outfit that believes it can unseat the American search engine in this fast-growing Asian market ...

2,000 attend Africa resources confab

May 17, 2013

2,000 attend Africa resources confab

A two-day meeting to discuss how to utilize African natural resources started in Tokyo on Thursday, with around 2,000 people, including natural resources ministers from 15 African nations, attending. At the Japan Sustainable Mining, Investment and Technology Business Forum, or J-SUMIT, the African ministers ...

May 17, 2013

Dollar holds steady above ¥102

The dollar was stable above ¥102 in Tokyo on Thursday, repeating narrow movements in a wait-and-see mood ahead of the announcements of key U.S. economic indicators. At 5 p.m., the dollar was quoted at ¥102.43-47, up slightly from ¥102.35-43 at the same time Wednesday. ...

May 17, 2013

Hopes grow for further upswing in Tokyo stocks

Tokyo stocks are expected to remain on a firm note for the time being, even after the Nikkei average topped 15,000, as more money is likely to flow into the market from abroad, analysts said. The Tokyo market’s rally has gathered pace since the ...

May 17, 2013

Nikkei bull run takes a break on profit-taking

Stocks fell back Thursday as profit-taking gained the upper hand. The Nikkei 225 average closed down 58.79 points at 15,037.24 after hitting a 64-month intraday high of 15,155.72 in early trading. On Wednesday, the key gauge surged 337.61 points. The Topix dropped 7.62 points ...