Business Topics

Mar 21, 2015

Switzerland, Luxembourg both plan to join China-led development bank

Switzerland and Luxembourg are planning to join the Beijing-backed Asian Infrastructure Investment Bank, China’s Finance Ministry said, the latest European nations to sign up to the multilateral lender which has drawn skepticism from the United States. Britain, France, Germany and Italy have already announced ...

Mar 21, 2015

Hon Hai takes another look at Sharp

Taiwan’s Hon Hai Precision Industry Co., also known as Foxconn, might make another offer to invest in ailing Sharp Corp., according to a Hon Hai source. In March 2012, the two electronics makers agreed that Hon Hai would invest about ¥67 billion in Sharp ...

Sharp considers shedding 5,000 jobs worldwide

Mar 19, 2015

Sharp considers shedding 5,000 jobs worldwide

Struggling electronics maker Sharp Corp. is considering shedding 5,000 jobs, or about 10 percent of its global workforce, informed sources said Thursday. To slash fixed costs, Sharp will also look at reducing salaries in Japan, the sources said. The fresh downsizing plan will likely ...

Mar 18, 2015

SMBC Nikko targets Nomura with global investment banker hiring

Sumitomo Mitsui Financial Group Inc. is hiring staff at its investment banking unit as it competes with more established names such as Nomura Holdings Inc. for bond and share deals. SMBC Nikko Securities Inc., which started operations in 2009, was the second-largest underwriter of ...

Nissan's 600-horsepower, $150,000 GT-R tops insurance costs

Mar 18, 2015

Nissan's 600-horsepower, $150,000 GT-R tops insurance costs

When it comes to auto insurance, speed costs. The most expensive 2015 model vehicle to insure in the U.S. is Nissan Motor Co.’s 600-horsepower, $150,000 GT-R Nismo, at an average $3,574 a year, Insure.com said Tuesday in a statement. The 621-horsepower Mercedes-Benz SL65 AMG ...