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Supplement sales in Japan shrink 8% after red yeast rice pill scare
Sales in Japan of supplements claiming to have health benefits have fallen 7.7 percent from a year earlier after reports of hospitalizations linked to a red yeast rice dietary supplement, according to recent industry data. Sales of supplements classed as food claiming functional benefits to the body dropped in the… Read
Honda to invest in Brazil to boost flexible-fuel vehicle production
Honda Motor Co said it will invest 4.2 billion reals ($803 million) in Brazil in a bid to boost its production of "flexible-fuel vehicles," which are powered by both gasoline and ethanol. Following the announcement, Brazilian President Luiz Inacio Lula da Silva released a statement welcoming Honda's investment plan, which… Read
World's 1st recycled diapers go on sale at stores in southwest Japan
A major Japanese hygiene products maker began selling the world's first "horizontally" recycled disposable diapers Saturday at shopping centers in the southwest of the country. The diapers, manufactured by Unicharm Corp, were created under the concept known as "horizontal recycling," meaning used products are reproduced into their original item, and… Read
Hong Kong regulator to investigate PwC auditing of Evergrande
Hong Kong's accounting regulator said it would start an investigation into PwC's role in auditing Chinese real estate giant Evergrande, citing the publication of a "whistle-blower report". Heavily indebted Evergrande has become a symbol of the years-long crisis in China's property market, and last month its onshore unit was accused… Read
Japan oil refiners to tap reserves in case of Middle East disruption
Japanese oil refiners see no immediate impact from escalating tensions in the Middle East on their crude procurement, but will use the country's reserves in case of contingencies to ensure stable oil supplies, the industry group's head said. "We don't believe that there are any obstacles to the procurement of… Read
BOJ chief points to hiking interest rates if inflation keeps rising
Bank of Japan chief Kazuo Ueda said Friday the central bank will "very likely" raise interest rates if underlying inflation continues to increase, stressing future decisions will be data dependent. After its first interest rate hike in 17 years at its previous policy meeting in March, Ueda acknowledged Japan's experience… Read
Nissan lowers FY2023 net profit forecast on weak sales volume
Nissan Motor Co on Friday lowered its net profit forecast for fiscal 2023 to 370 billion yen from an initial 390 billion yen, citing a larger-than-expected fall in sales volume and cost relief measures. The automaker also revised downward its operating profit estimate for the year ending March 2024 to… Read
France asks retailers to alert customers to cases of 'shrinkflation'
The French government announced a new rule on Friday that will require stores to tell customers when a product becomes smaller but its price stays the same or increases, a practice known as ‘’ shrinkflation. '' Finance Minister Bruno Le Maire announced the measure to tackle the common but often… Read
Advanced economies pledge $11 bil to boost World Bank lending
A group of advanced economies have pledged $11 billion in new funding commitments to boost the World Bank's lending capacity by up to $70 billion over a decade, the development lender announced Friday. The 11 countries -- including the United States, Germany and Japan -- committed the funds to three… Read
Nikkei leads Asian market retreat as Middle East tensions flare
Asian stocks tumbled Friday, with Japan’s Nikkei slumping 2.4% on heavy selling of semiconductor-related shares and other market heavyweights. Tensions in the Middle East were weighing on sentiment across the region, and U.S. futures were sharply lower. Oil prices jumped as the state-run IRNA news agency reported that Iran fired… Read
