Business Topics

Aug 22, 2014

Japanese firms discover gas, oil condensate off southern Vietnam

Oil distributors Idemitsu Kosan Co., JX Holdings Inc. and Inpex Corp. said Thursday they have discovered gas and crude oil condensate in exploration mining blocks 300 km southeast of Ho Chi Minh City, in southern Vietnam. The three companies found similar accumulations in the ...

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 ...

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

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 ...

Government panel to launch review of JAL bailout

Aug 20, 2014

Government panel to launch review of JAL bailout

A new government panel is due to begin a review of the financial support given to Japan Airlines, or JAL, as part of a bailout package under the previous administration. The review, which will start next month, is taking place in response to criticism ...