Business
Nippon Steel extends closing date for U.S. Steel acquisition to March
Nippon Steel said on Thursday it has extended the closing period for its $15 billion purchase of U.S. Steel, expressing confidence that the acquisition will protect and grow the American company. The estimated closing date was revised to March 2025 from the third or fourth quarter of 2024 previously. On… Read
65% of Japan firms have hired foreign workers to cover labor shortage: survey
Around 65 percent of companies in Japan employ foreign workers to resolve labor shortages, a government survey showed Thursday. In the multiple response survey, 56.8 percent of companies said foreign workers are employed with the expectation that they will perform as well or better than Japanese staff, while 18.5 percent… Read
U.S. applications for unemployment benefits hold steady, but continuing claims rise to 3-year high
The number of Americans applying for unemployment benefits held steady last week, though continuing claims rose to the highest level in three years. Jobless claim applications ticked down by 1,000 to 219,000 for the week of Dec. 21, the Labor Department reported Thursday. That’s fewer than the 223,000 analysts forecast.… Read
Chinese automaker BYD slams reports of poor conditions at a factory site in Brazil
A spokesperson for Chinese automaker BYD has objected to reports about poor conditions at a construction site in Brazil where it is building a factory, saying the allegations were aimed at “smearing” China and Chinese brands. Earlier in the week, a task force led by Brazilian prosecutors said it had… Read
Toyota global output falls 6.2% in November
Toyota Motor Corp said Wednesday that its global production in November dropped 6.2 percent from a year earlier to 869,230 vehicles, due partly to equipment inspections that led to temporary suspensions at some domestic plants. The decline was also attributed to fewer operating days at plants in Europe compared with… Read
Asian shares mostly lower, with most world markets closed for Christmas
Shares slipped in Tokyo and Shanghai on Wednesday, two of only a handful of world markets open on Christmas day. Oil prices rose. Japan's Nikkei 225 index edged 0.1% lower to 38,997.02, while the Shanghai Composite index lost 0.2% to 3,387.41. Thursday will bring a weekly update on U.S. unemployment… Read
Kawasaki Heavy fails to declare several billion yen in taxable income
Kawasaki Heavy Industries Ltd is suspected of failing to declare at least several billion yen in taxable income, a source familiar with the matter said. The Osaka Regional Taxation Bureau uncovered the underreporting following a scandal in which Kawasaki Heavy was allegedly involved in creating slush funds to provide money… Read
What a merger between Nissan and Honda means for the industry
Japanese automakers Honda and Nissan will attempt to merge and create the world’s third-largest automaker by sales as the industry undergoes dramatic changes in its transition away from fossil fuels. The two companies said they had signed a memorandum of understanding on Monday and that smaller Nissan alliance member Mitsubishi… Read
Starbucks strike expands, closing nearly 60 U.S. stores
A five-day strike by Starbucks baristas had closed 59 stores as of Monday afternoon, according to the union organizing the workers. The strike, which began Friday in Los Angeles, Chicago and Starbucks' hometown of Seattle, spread Monday to stores in Boston, Dallas and Portland, Ore. Workers in New York, Denver,… Read
Sweet smell of success for niche perfumes
They don't advertise and they are largely unknown to the general public but niche perfumes are able to command prices of hundreds of dollars from men and women seeking to stand out. Produced in small batches with high-quality, natural or rare ingredients, niche perfumes are becoming big business even while… Read
