Business
Half of Japan firms prepared in event of Taiwan contingency
Over half of major Japanese firms said they are prepared or are making preparations for a potential Chinese invasion of Taiwan amid Beijing's growing military assertiveness, a Kyodo News survey showed Saturday. Of the 114 companies surveyed between late November and mid-December last year, 53 percent said they had concrete… Read
U.S. extends deadline for Nippon Steel to abandon takeover to June 18
U.S. authorities extended a deadline imposed on Nippon Steel Corp and U.S. Steel Corp to abandon their merger plan to June 18, the companies said Sunday, a move that came as they fight to advance the deal in courts. U.S. President Joe Biden issued an order on Jan 3 to… Read
Which U.S. companies are pulling back on diversity initiatives?
Facebook and Instagram parent company Meta Platforms Inc. joins a growing list of companies that are pulling back on diversity, equity and inclusion initiatives. Like others before it, the social media giant cited a U.S. Supreme Court decision in July 2023 that outlawed affirmative action in college admissions. Conservative activists… Read
Record number of Japan ramen eateries went bankrupt in 2024
A record number of ramen noodle eatery operators in Japan went out of business in 2024, according to a research firm, as the food's reputation for affordability limits room to raise prices amid soaring ingredient and utility costs. Also hit by climbing personnel expenses due to labor shortages, insolvencies among… Read
Trump company not banning private foreign deals, a break with its first term policy
The Trump family business released a voluntary ethics agreement Friday that marks a significant departure from Donald Trump's first term by allowing it to strike deals with private foreign companies. The so-called ethics white paper bars the Trump Organization from striking deals directly with foreign governments, but allows ones with… Read
Japanese firms set for 5th year of record profits on AI boom, BOJ shift
Japanese companies are expected to post record profits for the fifth consecutive business year, supported by robust chip demand driven by the artificial intelligence revolution and Japan's monetary policy normalization. Solid consumer spending, backed by another round of sharp wage hikes expected in 2025, and government stimulus measures to offset… Read
U.S. hiring beats expectations in December to cap solid year
U.S. job gains soared past expectations in December, according to government data released Friday, in a sign the labor market remains healthy shortly before President-elect Donald Trump's inauguration this month. This indicates he is set to inherit an economy in relatively good shape, despite running an election campaign in which… Read
Airbus boosts plane deliveries in 2024
European plane maker Airbus says it increased aircraft deliveries to 766 even as the company struggles to return to pre-pandemic production levels. The figure was higher than the 735 aircraft Airbus delivered in 2023, but less than the 800 planes it had originally hoped to shift in 2024. That figure… Read
Seven & i to make decision on future path, buyout offers by May: CFO
Seven & i Holdings Co plans to decide by May on its future business strategy as it evaluates two separate takeover bids -- one from Canada's Alimentation Couche-Tard Inc and the other from the founding family of Seven & i -- the chief financial officer said Thursday. The operator of… Read
China's electric and hybrid vehicle sales jump 40.7% in 2024
Sales of electric and hybrid vehicles jumped more than 40 percent in China last year, as demand for new energy models continues to surge and the sector remains entrenched in a grueling price war. The Chinese electric vehicle market has witnessed explosive growth in recent years, driven in part by… Read
