Business

Travel agency JTB posts largest 1st-half net loss; to cut 6,500 jobs

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Major travel agency JTB Corp said Friday it will reduce its global workforce by 6,500 under broad restructuring, as it reported its largest-ever net loss for a fiscal first half on slumping tourism demand caused by the coronavirus pandemic. JTB posted a record net loss of 78.17 billion yen for… Read

Business

Asian shares mixed amid tug of war between hope, fear

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Asian shares were mixed in muted trading Friday after Wall Street eked out modest gains amid a tug of war between worries about the worsening pandemic in the present and optimism that a vaccine will rescue the economy in the future. Japan's benchmark Nikkei 225 slipped 0.42 percent from Thursday… Read

Business

Global monetary easing lifting Japanese stocks despite weaker economy

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While Japan's economy struggles with the economic fallout from the coronavirus pandemic, its stock market has staged big rallies since the start of November, with the key Nikkei index hitting new highs since the collapse of the bubble economy 29 years ago almost on a daily basis. But while soaring… Read

Business

China to cut tariffs, boost imports of high-quality goods and services

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China will continue to cut its tariffs and expand imports of high-quality goods and services, Chinese President Xi Jinping said on Thursday, while vowing to push reforms and promote an innovation-driven growth model. "We will further reduce tariffs and institutional costs..., and expand imports of high-quality products and services from… Read

Business

IMF director: Virus could disrupt global recovery

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The head of the International Monetary Fund said Thursday that the while the United States and other major economies turned in better-than-expected economic performances in the third quarter, the world now faces slower momentum with a resurgence in coronavirus cases. IMF Managing Director Kristalina Georgieva said in a note prepared… Read

Business

Tokyo stocks end mixed amid fears of economic fallout from virus

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Tokyo stocks ended mixed Thursday as worries about the economic fallout from a surge in coronavirus infections in the capital overshadowed optimism about progress in the development of a vaccine. The 225-issue Nikkei Stock Average ended down 93.80 points, or 0.36 percent, from Wednesday at 25,634.34. The broader Topix index… Read

Business

Nissan's UK business tough to sustain without Brexit trade deal: COO Gupta

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Any final exit by Britain from the European Union that worsens business conditions through increased tariffs would threaten the sustainability of Nissan Motor Co's UK operations, the Japanese car maker's chief operating officer (COO) cautioned. Nissan, which employs 7,000 people at Britain's biggest auto plant in Sunderland, north-eastern England, in… Read

Business

Textile maker hopes 'Demon Slayer' anime will promote tatami industry

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A range of tatami straw mats and craft kits inspired by the hit anime and manga series "Demon Slayer" have gone on sale amid hopes the products will help promote a traditional textile industry in a western Japanese city. Takata Orimono Co, a textile manufacturer based in Kurashiki, Okayama Prefecture,… Read

Business

Bitcoin breaks $18,000 with all-time high in sight

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Bitcoin broke through$18,000 on Wednesday to hit its highest since December 2017 extending its blistering 2020 rally driven by demand for its perceived quality as an inflation hedge and expectations of mainstream acceptance. The original and biggest cryptocurrency jumped as high as$18,483 and was last up 2%. It has soared… Read

Business

Japan's October exports almost back to pre-pandemic levels

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Japan's exports in October bounced back to just below the levels seen before the novel coronavirus pandemic, as global demand for products such as cars has risen in line with a gradual recovery in business activities, government data showed Wednesday. Exports edged down 0.2 percent from a year earlier to… Read

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