World needs to end risky reliance on U.S. dollar, BoE's Mark Carney says
Bank of England Gov. Mark Carney took aim at the dollar's "destabilizing" role in the global economy on Friday and said central banks might need to join together to create their own replacement reserve currency. The dollar's dominance of the global financial system increases the ...
Line and Nomura launch zero-commission online brokerage for Japanese stocks
Line Corp. and Nomura Holdings Inc. said they have launched an online brokerage venture that will charge zero commissions for trading in Japanese shares. Instead, Line Securities Corp. will make money from the bid and ask spreads on the trades, the venture's Co-Chief Executive Officer ...
Japan's financial firms grapple with how to support customers affected by dementia
Financial institutions are starting to implement measures to address issues related to their graying customer base — particularly, a growing number of dementia sufferers — to help them better manage their finances. According to the Health, Labor and Welfare Ministry, elderly people hold 60 percent ...
Going negative? As trade war rages, central banks ponder radical steps
The negative interest rate policy — an unconventional gambit once only considered by economies with chronically low inflation, such as Europe and Japan — is becoming a more attractive option for other central banks eager to counter unwelcome currency rises. In Asia, central banks in ...
Japan Post Bank to cap overseas remittances to ¥5 million a day to tackle money laundering
Japan Post Bank Co. and Japan Post Co. will limit the amount of funds that can be sent via their overseas bank transfer service to tackle money laundering. Overseas remittances will be limited to ¥5 million per day. The move is aimed at preventing illegal ...
Shadow banking crisis a key factor in India's auto sector plunge
Sudhir Gharpure and his sales team sat chatting at a big Maruti Suzuki dealership on the outskirts of Mumbai some two hours after its doors were opened on a recent Saturday morning — not a single customer was in sight. "There used to be close ...
MUFG Bank to open 'workation' offices in Karuizawa and Singapore in bid to boost productivity
MUFG Bank said Thursday that it will open "workation" offices, designed to allow employees to balance work demands while enjoying a vacation, in the resort town of Karuizawa, Nagano Prefecture, and Singapore, on Monday. The core unit of Mitsubishi UFJ Financial Group Inc., one of ...
Three main credit banks for Japan Display Inc. are poised to continue supporting the struggling maker of small and midsize liquid crystal display panels, it was learned Monday. Mizuho Bank Ltd., Sumitomo Mitsui Banking Corp. and Sumitomo Mitsui Trust Bank Ltd. will extend their commitment ...
It's not just banks that are feeling the squeeze from the Bank of Japan's negative interest rates, their employees are too. The latest data compiled by Tokyo Shoko Research, a private firm, shows that average wages in the construction industry are now 16 percent higher ...
China moves up date for lifting some restrictions on foreign investment to 2020
China lifted some restrictions on foreign investment in the financial sector Saturday as the world's second-largest economy fights slowing growth at home and a damaging trade war with the United States. China will remove shareholding limits on foreign ownership of securities, insurance and fund management ...
