Tag - banks

 
 

BANKS

Kazuto Inaba, a resident of Tokyo’s Edogawa Ward, was arrested shortly after noon on Tuesday at the Kameido branch of Mizuho bank. He has already confessed to the crime, citing financial difficulties.
JAPAN / Crime & Legal
Mar 13, 2024
Man arrested after robbery attempt at Mizuho Tokyo bank branch
The 57-year-old suspect threatened a desk clerk with a gun-like object, and demanded ¥500 million from him.
Goldman Sachs is exiting transaction banking in Japan, less than a year after announcing plans to enter the business
BUSINESS / Companies
Mar 8, 2024
Goldman Sachs exits Japan transaction banking in sudden reversal
The bank will remain focused on growing its transaction banking operations in the U.S., U.K. and European Union, according to a spokesperson for the firm.
Mitsubishi UFJ Financial Group said it is already managing to enhance its tolerance to an anticipated rise in yen interest rates.
BUSINESS / Markets
Mar 6, 2024
Japan’s biggest bank readies for BOJ shift on rate policy within weeks
Hiroyuki Seki, head of global markets business at Mitsubishi UFJ Financial Group, predicts that the BOJ will raise rates not once but twice by October.
Broad indications are growing that Chinese President Xi Jinping is shifting away from four decades of market-oriented reforms and financial innovation. The most powerful Chinese leader since Mao Zedong has emphasized the Communist Party’s "centralized and unified leadership” of the sector, and pledged to build "a modern financial system with Chinese characteristics” that’s completely different from the West.
BUSINESS / Companies
Mar 5, 2024
China's bankers exit industry amid crackdown on ‘hedonistic’ lifestyles
Finance workers in China are rethinking their career as Chinese President Xi Jinping signals a shift away from market-oriented reform and innovation.
Banks can boost their productivity by as much as 30% using generative AI over the next three years, according to analysis from consultancy firm Accenture.
BUSINESS / Tech
Feb 28, 2024
Bankers will see three-quarters of the workday transformed by AI
The world’s biggest banks have been experimenting with AI, spurred on by the promise that the technology will boost productivity and cut costs.
Toru Nakashima, CEO of Sumitomo Mitsui Financial Group, says he is considering an expansion of the bank’s alliance with Jefferies Financial Group into Asia.
BUSINESS / Companies
Feb 27, 2024
Sumitomo Mitsui may expand Jefferies pact into Asia amid focus overseas
The partners won more than 30 deals since expanding their tie-up last year, in which Sumitomo Mitsui agreed to triple its stake in the U.S. bank.
Gunma Bank's video message in English is geared toward those from overseas who are flocking to Japan to buy up stocks, bonds and real estate as the nation’s assets emerge from decades of slumber.
BUSINESS / Companies
Feb 22, 2024
English video shows Japanese regional banks opening up to overseas investors
Foreigners are flocking to Japan to buy up stocks, bonds and real estate as the nation’s assets emerge from decades of slumber.
In the U.S., proof that inflation remains sticky and the labor market sound has convinced traders to embrace the Federal Reserve’s pushback against market bets on near-term easing.
BUSINESS / Economy
Feb 19, 2024
Cracks start to emerge in global central bank synchronicity
The synchronization among central banks might be about to weaken as domestic drivers take over from global trends in determining price outlooks.
The Aozora Bank headquarters in Tokyo. The bank surprised investors with losses tied to U.S. commercial property, sending shares down by the limit and heightening concern over global banks' exposure to souring real estate bets.
BUSINESS / Companies
Feb 2, 2024
Gamble on U.S. commercial property blows up for Japan’s Aozora
Shares went down by the limit and heightened concern over global banks' exposure to souring real estate bets.
China's rural banking system plays a crucial role in lending to underdeveloped areas, but many had long struggled with weak profits, soured assets and lax governance.
BUSINESS / Economy
Jan 31, 2024
China merges hundreds of rural banks as financial risks mount
But legacy issues — if unresolved — could still cripple the operations of the newly formed institutions and cause bigger problems.
A law making its way through the U.S. Congress would authorize the confiscation of billions of dollars in frozen assets owned by the Russian central bank, that would then be handed over to Ukraine as compensation for the war.
COMMENTARY / World
Jan 24, 2024
Seizing Russia's central bank funds is illegal and unwise
A big question about giving Ukraine seized Russian funds is would such an asset grab break international law?
Toshinori Yashiki, deputy director-general at the Financial Services Agency, urged lenders to pay particular attention to highly-leveraged borrowers.
BUSINESS
Jan 24, 2024
Japan regulator will probe risks to banks from higher rates
The Bank of Japan is expected to make its first rate hike since 2007 within a few months, raising the possibility that borrowers will struggle with higher interest payments.
Ajay Banga, president of the World Bank Group, during a panel session at the World Economic Forum in Davos, Switzerland, on Jan. 17
BUSINESS
Jan 23, 2024
World Bank chief eyes 'bigger' institution to tackle climate crisis
Ajay Banga said the bank is working to widen the way it looks at problems and increase collaborations with other institutions.
Past warnings of a housing-market crash in China have never been borne out. But unless the government takes concerted action, this time may well be different.
COMMENTARY / World
Jan 21, 2024
Fixing China’s real estate sector
Housing dreams to economic nightmares, the perils of China's real estate boom.
Noriyuki Sato, head of asset management at Mizuho Financial Group, says the bank plans to ramp up its expansion into private markets.
BUSINESS / Companies
Jan 18, 2024
Mizuho considers U.S. deal to supercharge private markets growth
The lender’s $460 billion money-management arm is considering buying a stake in a U.S. or European firm specializing in alternative investments.
The Yeouido financial district in Seoul
BUSINESS / Economy
Jan 8, 2024
South Korea watchdog intensifies crackdown on China-linked notes
Authorities will investigate 12 institutions over the sale of equity-linked securities that are tied to the Hang Seng China Enterprises Index.
A scientist works on a quantum computer at the IBM Quantum lab in Yorktown Heights, New York.
COMMENTARY / World
Jan 3, 2024
Your money may not survive a quantum heist
Prime numbers have served the internet age well, but the private sector and public authorities can no longer take their continued guardianship for granted.
Mitsubishi UFJ Morgan Stanley Securities sold Additional Tier 1 notes from Credit Suisse more aggressively than any other firm in Japan, with its sales making up about two-thirds of the notes taken up, which totaled ¥140 billion in value.
BUSINESS / Companies
Dec 26, 2023
MUFJ securities unit sued again over Credit Suisse AT1 bond losses
Mitsubishi UFJ Morgan Stanley Securities sold more than two-thirds of the Additional Tier 1 notes taken up in Japan.
Mitsubishi UFJ Financial Group CEO Hironori Kamezawa
BUSINESS / Companies
Dec 22, 2023
Japan banks scramble to beef up asset management businesses
Asset management has emerged as an area of focus for the banks this year amid signs decades of deflation is ending.
Mitsubishi UFJ Trust and Banking is set to buy Australian data manager Link Administration Holdings for 1.11 billion Australian dollars.
BUSINESS / Companies
Dec 18, 2023
MUFG to buy Australia’s Link in ¥106 billion deal
The unit of Japan’s largest bank, Mitsubishi UFJ Financial Group, will pay AU$2.10 per share, a 23.5% premium to Friday’s closing stock price.

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A statue of "Dragon Ball" character Goku stands outside the offices of Bandai Namco in Tokyo. The figure is now as recognizable as such characters as Mickey Mouse and Spider-Man.
Akira Toriyama's gift to the world