Business Topics

May 17, 2013

March industrial output upgraded

Industrial production in March rose a revised 0.9 percent from the previous month, against the preliminary reading of a 0.2 percent increase, the Ministry of Economy, Trade and Industry said Thursday. The reading represents the fourth consecutive monthly growth, in a sign that production ...

May 17, 2013

Investment trusts at five-year high

The net asset value of publicly offered investment trust funds in Japan rose 6.9 percent in April to hit a five-year high of ¥77.67 trillion, the Investment Trusts Association said. The outstanding asset balance extended its rising streak to an 11th month. It touched ...

May 17, 2013

Sanyo recalling washing machines

Sanyo Electric Co. is recalling 45,300 washing machines manufactured between 2005 and 2009 because of risks of smoke or fire due to components overheating. The Panasonic group company said it came up with the decision after investigating three heat damage cases affecting two models ...

Line app lined up for DoCoMo smartphones

May 16, 2013

Line app lined up for DoCoMo smartphones

by Kazuaki Nagata

NTT DoCoMo said Wednesday it will team up with the popular social network provider Line to offer a special app for DoCoMo users, aiming to deepen its relationship with the operator of the growing communication tool. “Line’s growth has been incredible. . . . ...

U.S. production boom transforms global oil trade

May 16, 2013

U.S. production boom transforms global oil trade

The surge in oil production in the U.S. and Canada and shrinking oil consumption in the developed world is transforming the global oil market. The threat of chronic oil shortages is all but gone, U.S. dependence on Middle Eastern oil will continue to dwindle ...

May 16, 2013

Cerberus to secure Seibu stake topping one-third

U.S. private equity fund Cerberus Capital Management LP will probably acquire a stake of more than one-third in Seibu Holdings Inc. via a takeover bid set to expire Friday, sources said. Raising its stake in Seibu Holdings to more than one-third would give the ...

May 16, 2013

EU to shift rescue bill for bank failures to creditors

European Union governments want to shift the cost of rescuing troubled banks from taxpayers to the banks’ creditors — including the holders of large deposits — as part the region’s plan to shore up its shaky financial system. Finance ministers from the 27-country bloc ...

May 16, 2013

Passage of 2013 budget to pave way for bonds

by Ayako Mie

The Diet on Wednesday approved the ¥92 trillion budget for fiscal 2013 to support the immediate issuance of debt-covering government bonds. The Upper House rejected the budget bill earlier in the day as lawmakers voted along party lines. The ruling coalition lacks a clear ...

Boeing 787 deliveries restart after four-month halt

May 16, 2013

Boeing 787 deliveries restart after four-month halt

Boeing restarted deliveries of 787s on Tuesday after a four-month halt while it dealt with the smoldering batteries that had kept the planes grounded. Boeing handed the plane over to All Nippon Airways at its factory in Everett, Washington. Airline flights and deliveries were ...

May 16, 2013

Germany tells Google to modify search bar

Google Inc. must respect requests to remove autocomplete entries from its search bar in Germany if they are defamatory, a German court ruled Tuesday. The Federal Court of Justice upheld a complaint from an unidentified company selling nutritional supplements and its founder, identified only ...

May 16, 2013

EU raids oil firms in antitrust probe

The European Commission has carried out surprise inspections at several major oil companies over possible price-fixing in breach of EU antitrust rules. The commission did not name any of the companies involved in Tuesday’s raids but British energy giant BP, Shell and Norway’s Statoil ...