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Abercrombie & Fitch chairman and CEO Mike Jeffries addresses stockholders during the company's annual meeting at the company's headquarters in New Albany, Ohio, on May 22, 2003.
BUSINESS / Companies
Oct 23, 2024

Former Abercrombie & Fitch CEO Mike Jeffries charged with sex trafficking

If convicted, Jeffries faces a possible life sentence and mandatory minimum 15-year prison terms for the sex trafficking charges.
Trump has threatened blanket 60% tariffs on China, forcing some companies to consider shifting their supply chains to Southeast Asia.
BUSINESS
Oct 23, 2024

China's exporters run for cover as U.S. election nears

A Trump trade war 2.0 would be a moment of reckoning for many Chinese exporters, whose profits are dwindling under heavy deflationary pressure.
Taiwanese chipmaker Taiwan Semiconductor Manufacturing Co. has halted shipments to a client after discovering semiconductors delivered to them found their way into Huawei products.
BUSINESS / Tech
Oct 24, 2024

TSMC cuts off client after discovering chips sent to Huawei

It’s unclear whether the TSMC client was acting on Huawei’s behalf, or where it’s based.
The Tokyo Stock Exchange. Rigaku Holdings' shares fell on debut, even after the results of its offering suggested that investors still have an appetite for big Japanese stock deals in a busy primary market.
BUSINESS / Companies
Oct 25, 2024

Rigaku shares fall 10% in market debut after IPO priced at the top

Rigaku shares closed at ¥1,130 after the initial public offering had been priced at the top end of a ¥1,230 to ¥1,260 indicative range.
A custom-made split keyboard at Yusha Kobo.
BUSINESS / Companies
Oct 29, 2024

Make a one-of-a-kind mechanical keyboard at this Akihabara shop

At Yusha Kobo, customers pick switches, keycaps and all the other components needed to fashion one-of-a-kind keyboards that meet their exacting needs.
Traffic in the Yeouido financial district of Seoul
BUSINESS / Companies
Oct 30, 2024

Ex-Goldman banker-turned-billionaire takes on South Korea’s chaebol

While private equity’s involvement in South Korea's economy has grown over the last two decades, few have taken on the powerful, family-run conglomerates.
The Xiaomi SU7 Ultra on stage during its launch in Beijing on Tuesday. The Chinese tech company made its foray into the EV industry earlier this year.
BUSINESS / Companies
Oct 30, 2024

Xiaomi launches faster version of flagship EV in a challenge to Tesla

Xiaomi entered China's crowded EV market in March with the launch of its hit SU7.
The number of female directors among firms in the Tokyo Stock Exchange’s prime market will need to more than double in the next six years to meet the government target of having women make up 30% of board members at major firms by 2030.
BUSINESS / Companies
Oct 31, 2024

Rush for female directors stumbles on weak pipeline in Japan

With almost no women rising to become internal directors, companies will have no choice but to recruit them from outside.
Republican Presidential Nominee Donald Trump
BUSINESS / Markets
Oct 31, 2024

Trump factor bringing uncertainty to Asian firms' U.S. investment outlook

The former president has criticized the Inflation Reduction Act as a "scam” and the CHIPS and Science Act as a bad deal.
Nomura Holdings said it paid the penalty on Thursday and apologized to clients and concerned parties.
BUSINESS / Companies
Oct 31, 2024

Nomura fined by Japan regulator for bond market manipulation

The fine, while small, may hurt Nomura’s reputation at a time when it is refocusing on Japan as a key growth area for its trading and investment banking operations.
A subcommittee of Japan's Fiscal System Council proposed Friday that the government provide efficient support over multiple years to the sector, which is growing in importance from the perspective of economic security.
BUSINESS / Tech
Nov 2, 2024

Japan panel calls for medium-term chip sector aid strategy

The subcommittee said the government provide efficient support over multiple years to the sector, which is growing in importance.
The IFC One Saigon building in Ho Chi Minh City, Vietnam, on Nov. 30, 2023
BUSINESS / Tech
Nov 4, 2024

U.S. tech firms issue warning over Vietnam's planned data law

The country is aiming to exponentially increase its data center industry with foreign investment in coming years.
People line up outside an Apple store in Beijing on Sept. 20.
BUSINESS / Markets
Nov 4, 2024

Buffett keeps cutting Apple stake, with value down 60% this year

Berkshire cut its Apple holdings by roughly 25% in the period, after cutting it by almost half in the second quarter.
A screen showing the yen's exchange rate against the U.S. dollar in July
BUSINESS / Economy
Nov 5, 2024

Yen is the first of many Japanese assets set to pivot on U.S. election

Given the size and liquidity of its markets, Japan will be in particular focus during the U.S. election.
In the April-September period, Nintendo logged net profit of ¥108.7 billion ($710 million), down 60% from the same period a year earlier.
BUSINESS / Companies
Nov 5, 2024

Nintendo lowers sales forecast as first-half profits plunge

The video game giant now expects sales of ¥1.28 trillion, down from the previous estimate of ¥1.35 trillion, and also issued a less optimistic operating profit forecast.
Seiji Izumisawa, the CEO of Mitsubishi Heavy Industries, said at a briefing that while currency fluctuations and inflation make the future unpredictable, strong order intakes are encouraging.
BUSINESS / Companies
Nov 5, 2024

Mitsubishi Heavy net income falls, but orders still solid

Shares in the company fell 2.5% Tuesday after it reported that net income for the June-September period failed to meet analysts’ average estimate.
The film character Godzilla poses on the red carpet during a ceremony to receive a star on the Hollywood Walk of Fame in Hollywood, California, in November 2004.  
COMMENTARY
Nov 6, 2024

After nearly three-quarters of a century, Godzilla’s monstrous empire is thriving

The famed Japanese monster went from serious metaphor for nuclear destruction to a kitschy pop culture icon.
Republican presidential nominee and former U.S. President Donald Trump attends a campaign rally in Warren, Michigan, on Nov. 1.
WORLD
Nov 6, 2024

White House win gives Trump a legal reprieve

As U.S. president, the 78-year-old Trump can make the federal criminal cases facing him vanish and see the state cases put on hold.
Tesla and SpaceX CEO Elon Musk gestures as he steps on stage during a rally for former U.S. President and then-Republican presidential candidate Donald Trump in New York on Oct. 27
BUSINESS / Companies
Nov 7, 2024

What Trump's re-election means for Elon Musk

Trump has vowed to give Musk an official role cutting government spending — and with it, the power to influence policy and the federal agencies.
U.S. President Donald Trump signs one of five executive orders related to the oil pipeline industry in the Oval Office of the White House in Washington on Jan. 24, 2017.
BUSINESS / Markets
Nov 7, 2024

From oil to EVs, here’s how Trump’s victory affects energy

The prospect of a Trump-era pullback from some policies promoting emission-free energy has already helped spark a slide in shares of renewable power firms.
Bank of Japan Gov. Kazuo Ueda attends a post-policy meeting news conference at the central bank's headquarters in Tokyo on Oct. 31.
BUSINESS / Economy
Nov 7, 2024

Trump victory might give Bank of Japan some room to maneuver

The Bank of Japan has been under pressure to keep monetary policy accommodative given the state of the economy and the tentativeness of the recovery.
Japan spent ¥3.17 trillion on dollar-selling intervention on July 11 and ¥2.37 trillion on July 12, quarterly data from the Finance Ministry showed on Friday.
BUSINESS / Markets
Nov 8, 2024

Japan intervened twice last quarter to bring yen below ¥160

The Finance Ministry intervened on July 11 and 12, spending ¥3.17 trillion and ¥2.37 trillion respectively to prop up the yen.
Tomoki Arai, head of markets at Bank of Yokohama
BUSINESS / Companies
Nov 8, 2024

Bank of Yokohama weighs Japan bond comeback with more rate hikes to come

More financial institutions are weighing a return to local debt after years of investing abroad.
NAND flash memory maker Kioxia plans to use a new method for listing in Japan that would fast-track its oft-delayed initial public offering. Both the price and size of the stake to be floated were undecided, according to a filing Friday.
BUSINESS / Tech
Nov 9, 2024

Kioxia files for long-delayed IPO as Samsung’s lead grows

The NAND flash memory maker plans to debut on the Tokyo Stock Exchange between this December and June next year.
Key Square Group founder Scott Bessent speaks at a campaign event for Republican presidential nominee and former U.S. President Donald Trump in Asheville, North Carolina, in August.
BUSINESS / Economy
Nov 9, 2024

Scott Bessent, top candidate for Treasury Secretary, meets with Trump

The Treasury Secretary job is a key Cabinet position, with vast influence over economic, regulatory and international affairs.
A pedestrian on a bridge walks past buildings in Pudong's Lujiazui Financial District in Shanghai on Jan. 9.
BUSINESS / Companies
Nov 10, 2024

Foreign firms pull more money from China’s slowing economy

Should the decline continue for the rest of the year, it would be the first annual net outflow in FDI since at least 1990, when comparable data begins.
Chinese President Xi Jinping and Indonesian President Prabowo Subianto shake hands during a signing ceremony at the Great Hall of the People in Beijing on Friday.
BUSINESS / Tech
Nov 11, 2024

China and Indonesia ink $10 billion deals on green energy and tech

President Prabowo Subianto also chose China for his first visit as president elect, underscoring Jakarta's commitment to stronger strategic ties with Beijing.
A Toyota Motor Lexus LF-ZC electric concept vehicle at the Beijing Auto Show in April
BUSINESS
Nov 11, 2024

Toyota aims to ramp up China production in a strategy pivot

The plan represents a strategic pivot by the world's top selling automaker in the world's largest car market.
A sign outside JP Morgan Chase & Co. offices in New York in 2021
BUSINESS
Nov 11, 2024

JPMorgan braces for ‘impactful’ first two years of Trump

Optimism has been high that Donald Trump’s pro-growth promises, built around tax cuts and deregulation, will unlock another round of gains in the economy.
Taiwan Semiconductor Manufacturing Co.'s JASM plant in Kikuyo, Kumamoto Prefecture, on Sept. 13
BUSINESS / Tech
Nov 11, 2024

Japan unveils ¥10 trillion plan to aid domestic chip industry

The plan, which will provide the support by fiscal 2030, comes as countries look to strengthen control over their chip supply chains.

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Japan’s bears have been on their killing spree for more than 100 years