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Oct 21, 2014

China economy grows at slowest pace in five years

China’s economic growth waned to a five-year low of 7.3 percent last quarter, raising concerns of a spillover effect on the global economy but falling roughly in line with Chinese leaders’ plans for a controlled slowdown. The third quarter figures, released Tuesday, put China ...

China eyes selling high-speed trains to California

Oct 21, 2014

China eyes selling high-speed trains to California

State-backed China CNR Corp. is making a pitch to sell its high-speed trains to California, signaling the country’s growing export ambitions for such technology after building the world’s longest network in just seven years. It marks the first concrete attempt by China to sell ...

| Oct 21, 2014

Dollar settles lower around ¥106.50

The dollar was weaker around ¥106.50 in late Tokyo trading Tuesday due to falls in stock prices and U.S. long-term interest rates. At 5 p.m., the dollar was at ¥106.56-57, down from ¥107.06-07 at the same time Monday. The euro was at $1.2826-2827, up ...

| Oct 21, 2014

Profit-taking pulls Nikkei down

Stocks turned lower Tuesday, pressured by profit-taking after Monday’s surge, with the Nikkei 225 average falling back below 15,000. The Nikkei lost 306.95 points, or 2.03 percent, to end at 14,804.28. On Monday, the key market gauge jumped 578.72 points, marking its sharpest rise ...

Oct 21, 2014

Appliance shipments up 1.9% in September

Shipments of white goods such as air conditioners rose 1.9 percent in September from a year earlier to ¥170.6 billion for the first rise in five months, industry data showed Tuesday. Though adverse effects of April’s consumption tax hike still linger, demand for high-cost, ...

Oct 21, 2014

Abe to gather expert opinions on next sales tax hike

The government will hold a string of meetings with experts in November to discuss the possible effects of raising the consumption tax to 10 percent in October 2015. Prime Minister Shinzo Abe will use opinions gathered in these meetings as a reference for making ...

Government downgrades economic assessment second straight month

Oct 21, 2014

Government downgrades economic assessment second straight month

The government on Tuesday downgraded its assessment of the economy for the second straight month, as the consumption tax hike in April continued to hit consumer spending and industrial production. “The Japanese economy is on a moderate recovery, while weakness can be seen recently,” ...

Oct 21, 2014

KDDI, Gree team up for smartphone games

Major mobile phone carrier KDDI Corp. and mobile game site operator Gree Inc. said Tuesday they have formed a business alliance to support Japanese and overseas game developers. Under the collaboration, the two companies plan to release a new game developed by Tokyo-based Trifort ...

Oct 21, 2014

September supermarket sales down for sixth month

Supermarket sales fell 1.0 percent in September from a year earlier on a same-store basis, declining for the sixth consecutive month following the April consumption tax hike, an industry body said Tuesday. Sales at 9,262 stores operated by 60 supermarket chains totaled ¥1.016 trillion, ...

Oct 21, 2014

Apple profits jump 13% on back of strong iPhone 6 sales

The new big-screen iPhones helped propel Apple’s profit and revenue in the past quarter, as the California tech giant delivered stronger-than-expected results. Profit rose 13 percent to $8.5 billion, as revenues jumped to $42.1 billion in the fiscal fourth quarter ending September 27, the ...