Business
Coming to a store near you: double-digit coffee price hikes
If your favorite coffee beans have vanished from the shelves, don't worry - they will return soon. The bad news is they will be up to 25% more expensive. Roasters such as Lavazza, Illy, Nestle and Douwe Egberts maker JDE Peet's are currently in talks with retailers about passing on… Read
SBI Shinsei Bank repays ¥100 billion in gov't rescue funds
Japan's SBI Shinsei Bank, partly owned by the government, said Friday that it has repaid 100 billion yen to the state, about one-third of the total its predecessor received in a bailout decades ago. SBI Shinsei remains the only major domestic lender that has not fully returned public funds provided… Read
China's Xi urges global CEOs to protect trade as Trump tariffs loom
China's President Xi Jinping urged a gathering of multinational CEOs on Friday to protect global industry and supply chains, as Beijing seeks to assuage foreign firms' concerns over the Chinese economy's health amid threats of more U.S. tariffs. Beijing is battling to dispel fears that a renewed trade war with… Read
Toyota to delay construction of Japan battery plant amid EV slowdown
Toyota Motor Corp will delay construction of its electric vehicle battery factory in southwestern Japan due to slowing global demand for EVs, sources familiar with the matter said. Construction of the plant in Fukuoka Prefecture was initially slated to begin this year, but it was pushed back to a later… Read
Games publisher Ubisoft announces restructuring, billion-euro investment
In a bid to escape financial woes, French games giant Ubisoft says it is creating a new subsidiary around its most popular franchises such as "Assassin's Creed" in partnership with China's Tencent. The new unit, valued at around four billion euros ($4.3 billion), will be 25-percent controlled by Tencent, which… Read
Tokyo's rice prices surge 90% in March on year: CPI data
Prices of rice in Tokyo jumped around 90 percent in March from a year earlier, with the government's recent release of stockpiles having limited impact, consumer price data showed Friday. The 89.6 percent increase, bigger than the 77.5 percent year-on-year growth in February, was the largest rise since 1971, when… Read
Japan warns of significant impact from U.S. tariffs
Japan's government warned Thursday of a "significant impact" on its economic ties with the United States and on global trade, after President Donald Trump announced import tariffs on cars. Tokyo is one of Washington's closest economic and strategic allies, with its firms the biggest investors in the United States and… Read
U.S. auto industry stunned by tariffs meant to save it
The 25 percent tariffs on automobiles announced by President Donald Trump are meant to revitalize American industry, but Detroit's giants were stunned Thursday by their scale and faced a beating on Wall Street. While the implementation of the tariffs had been anticipated for weeks, their details surprised manufacturers and experts… Read
Trump's auto tariffs spark global outcry as price hikes loom
World powers on Thursday blasted U.S. President Donald Trump's steep tariffs on imported vehicles and parts, vowing retaliation as trade tensions intensify and price hikes appear on the horizon. Major car exporter Germany urged a firm response from the European Union, while Japan said it "will consider all options." Canadian… Read
Nissan's new CEO says Japanese automaker will move faster to achieve turnaround
The chief-executive-to-be at money-losing Japanese automaker Nissan is determined to speed up decision-making to come up with models that say Nissan — and really sell. Ivan Espinosa, 46, chief planning officer and a Mexican with two decades of experience at Nissan Motor Corp, told reporters on Wednesday that the company's corporate… Read
