Business

Labor shortage a stress test for Japan's convenience stores

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Japan's growing labor shortage threatens the nation's ubiquitous convenience stores, whose business model relies on an army of part-timers packing bento lunch boxes, manning cash registers and delivering goods 24/7. The big three "combini" operators 7-Eleven, FamilyMart and Lawson, which have expanded through Japan's long slump, are scrambling to ease… Read

Business

Japan Post to book 1st net loss in FY2016 since privatization

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Japan Post Holdings Co said Tuesday it is set to fall into the red for the first time since it was privatized in 2007, expecting a net loss of around 40 billion yen ($363 million) for the business year ended March due to losses related to its Australian subsidiary. The… Read

Business

LVMH to consolidate hold on Dior in multibillion-euro deal

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The magnate behind LVMH is to incorporate Christian Dior into his luxury goods empire in a multibillion-dollar deal. It's the latest business coup for businessman Bernard Arnault, who has expanded his LVMH empire to include dozens of leading luxury brands - from high-end champagne and whiskies, to exclusive Vuitton handbags,… Read

Business

Toshiba to spin off 4 key operations

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Toshiba Corp said Monday it will spin off four key operations including its infrastructure systems to keep its shaky financial standing from affecting its healthy businesses. Roughly 24,000 of some 30,000 Toshiba employees are likely to be transferred to the newly established companies. Engineers in the research and development division… Read

Business

Japan steel industry head says concerned by Trump 'protectionism'

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Japan Iron and Steel Federation chairman Kosei Shindo said on Monday he has strong concerns over "protectionism" by U.S. President Donald Trump. "We will carefully observe the U.S. trade probe against imported steel," Shindo, who is also president of Nippon Steel & Sumitomo Metal Corp, told a news conference. Trump… Read

Business

Global investment banks beef up transaction business in Asia

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With dealmaking in Asia sluggish and Chinese investment banks taking market share from global rivals, some foreign banks are ploughing resources into transaction banking, the workaday business of financing trade, managing cash and facilitating payments. At a time of growing intra-regional trade in Asia, the largest trading region in the… Read

Business

Fujifilm delays earnings report over NZ unit accounting problems

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Fujifilm is delaying the release of its financial results as it probes accounting irregularities at a New Zealand unit, raising fears Japan Inc is headed for another embarrassing accounting scandal. The company said it is setting up an independent committee of outside experts to look into the "appropriateness of accounting… Read

Business

Investors push for more info on lobbying at U.S. companies

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Dozens of major U.S. companies are facing shareholder votes this spring that seek to require more disclosure about political lobbying, as activists demand greater corporate transparency. Votes are set to take place at more than 40 annual meetings, including those for Boeing, Wells Fargo, Ford, General Electric and Facebook. The… Read

Business

GM plans to launch 10 electric cars in China by 2020

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General Motors Co. plans to launch 10 electric and gasoline-electric hybrid vehicles in China by 2020, an executive said, as automakers speed up the rollout of alternative vehicles under pressure from Beijing to promote the industry. GM will start production of a pure-electric model in China within two years, Matt… Read

Business

Japan Inc braces for labor reform

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Japan's plans to implement more employee-friendly laws are set to prove painful for many companies, with half saying labor costs will rise and two-thirds considering ways to lift productivity to offset the impact of the reforms, a Reuters poll showed. Prime Minister Shinzo Abe's government last month endorsed an action… Read