Business Topics

Apr 8, 2015

February U.S. consumer borrowing hits record high

Consumers increased their borrowing to a record high in February, driven by a large jump in auto and student loans. The Federal Reserve reported Tuesday that consumer borrowing expanded $15.5 billion in February following a $10.8 billion gain in January. The February increase pushed ...

Japan-Indonesia power plant to break ground in Java this month

Apr 8, 2015

Japan-Indonesia power plant to break ground in Java this month

Indonesian President Joko “Jokowi” Widodo said Tuesday a project to build a $4 billion thermal power plant project funded by an Indonesia-Japan consortium will begin at the end of April. “God willing, we will go there for the groundbreaking at the end of this ...

Apr 8, 2015

Summer bonuses to rise for second straight year

Summer bonuses are expected to rise for a second straight year, though by less than in 2014, according to private-sector estimates. The average bonus this summer is expected to rise 2.3 percent year on year, to ¥379,000 per worker, Mizuho Securities Co. said Tuesday. ...

Apr 7, 2015

LDP proposes future energy policy heavy on nuclear power

Ruling party lawmakers proposed to Prime Minister Shinzo Abe on Tuesday that Japan generate around 60 percent of its electricity from stable sources, a figure that meets international standards but also suggests continued reliance on nuclear power. The share of “base-load” power sources, which ...

Russia's rich forgo some luxuries but still back Putin

Apr 4, 2015

Russia's rich forgo some luxuries but still back Putin

Russian model Alisa Krylova canceled her order for the latest Mercedes, spent New Year’s in Moscow rather than skiing in the Alps and now employs Russian staffers rather than foreigners. The former Mrs. Russia and Mrs. Globe beauty pageant winner is among Russia’s superrich, ...

Apr 4, 2015

Unions at 90% of small firms win average ¥1,900 monthly pay hike

About 90 percent of labor unions at small and midsize manufacturers won pay scale increases in this year’s shunto spring wage negotiations, an umbrella organization said. Of the 132 labor unions that received responses from management to their wage increase requests, 118 unions, or ...

Apr 4, 2015

U.S. hiring weakened in March

For months, the U.S. economy has been flagging. Manufacturing slowed. Fewer homes were built. Cheaper gas failed to ignite consumer spending. Yet employers kept on hiring vigorously. In March, the slump finally overtook the job market. Employers added just 126,000 workers — the fewest ...