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by Karyn Nishimura-Poupee Agence France-Presse TOKYO, Japan (AFP) – The Tokyo stock market might be riding two-decade highs, but a growing number of Japanese are choosing to stash their cash in the humble home safe, wary of negative interest rates in the bank and out of the view of eagle-eyed tax officials. It is no secret that Japan has some of the world’s biggest savers, learning from an early age to put aside some of their hard-earned […]
LONDON, United Kingdom (AFP) — Mercedes-Benz is recalling 400,000 UK cars owing to a fault that may deploy an airbag by error, the company said on Monday. A statement issued by the carmaker owned by German giant Daimler said the situation was not related to the airbags crisis at Japanese group Takata. Mercedes said it was recalling models — the A, B, C, and E-Class as well as the CLA, GLA, and GLC — built […]
TOKYO, Japan (AFP) — Tokyo stocks opened higher Tuesday, tracking gains on Wall Street with investors beginning to price in bullish expectations for sound corporate results as earnings season gets underway. The Nikkei 225 index, which has risen for the past 10 consecutive sessions, edged up 0.49 percent, or 104.60 points, to 21,360.16 in early trade. The broader Topix index was also higher by 0.45 percent or 7.75 points, at 1,726.93. The earnings season starting […]
PARIS, France (AFP) — Airbus will take a majority stake in Bombardier’s marquee C-Series airliner program, the companies announced Monday, as the Canadian firm battled against a stiff tariff ruling in the US. The landmark agreement comes after the US administration slapped a 220 percent countervailing duty, as well as an 80 percent anti-dumping tax, on Bombardier CS100 and CS300 aircraft imported into the United States. Boeing accuses Bombardier of manufacturing its 100-150 seat planes […]
TOKYO, Japan (AFP) — Tokyo stocks rose Monday morning, tracking gains on Wall Street as the benchmark Japanese index extended buying sentiment after ending at a fresh two-decade high last week, but scandal-hit Kobe Steel slipped further. The Nikkei 225, which closed at its highest level since November 1996 on Friday, rose 0.63 percent, or 132.94 points, to 21,288.12 by the break, while the broader Topix index was up 0.90 percent, or 15.45 points, at […]
KUWAIT CITY, Kuwait (AFP) — Oil producers may not need to roll over a deal to cut production beyond March if all members fully comply with their pledges, the Kuwaiti oil minister said Sunday. “The current reduction deal is sufficient to achieve the desired purpose,” of rebalancing the oil market, Essam al-Marzouk told reporters after opening an oil conference. Although “the compliance level to the cuts has reached an unprecedented 116 percent”, this was mainly […]
TOKYO, Japan (AFP) — Japan’s Kobe Steel admitted Friday that a snowballing falsified data scandal had affected around 500 customers, more than twice as many as initially thought. More than 30 foreign customers were affected, including Boeing, Airbus, General Motors, Tesla, German automaker Daimler and PSA of France, according to Japan’s leading Nikkei business daily. The new estimate comes as Kobe Steel’s battered stock fell almost nine percent to finish at 805 yen ($7.20), down […]
by John BIERS Agence France Presse NEW YORK, United States (AFP) — Wall Street stocks rose Friday, with the Nasdaq inching up to a fresh record, following data showing strong US retail sales in September. Meanwhile, Europe’s major stock markets were mixed at the end of the trading session, while oil prices advanced after President Donald Trump announced he was “decertifying” the Iran nuclear deal, throwing into doubt an agreement that was expected to boost […]
BEIJING, China (AFP) — China’s imports from North Korea fell for the seventh month in a row, official data showed Friday, after Beijing vowed to apply UN sanctions to pressure Pyongyang over its nuclear and missile tests. Speaking at a press conference, Customs administration spokesman Huang Songping said China’s imports from North Korea had dropped by almost 38 percent in September year-on-year, while exports were down 6.7 percent. China, North Korea’s main trade partner, […]
Samsung Electronics said Friday it expected profits to hit an all-time high in the third quarter, as booming semiconductor sales boost the South Korean IT giant. The company estimated operating profits of 14.5 trillion won ($12.8 billion) in the July-September period, a record for quarterly profit and nearly three times the 5.2 trillion won earned a year earlier. Sales are expected to have surged 29.65 percent on-year to 62 trillion won. Samsung did not announce […]
TOKYO, Japan (AFP) — Uniqlo’s parent company said Thursday that its annual net profit more than doubled from a year ago to a record thanks to strong sales and as a cheaper yen inflated profits. Fast Retailing’s net profit came in at 119 billion yen ($1 billion) in the fiscal year through August, with revenue up 4.2 percent at 1.86 trillion yen, it said. Asia’s biggest retailer — a rival of Zara, Gap and H&M — said sales […]
by Antonio Rodriguez Agence France-Presse WASHINGTON, United States (AFP) — For the first time in years the International Monetary Fund is optimistic about global economic growth. But it sees a new problem: mounting debt in the world’s largest countries. “Debt levels are increasing in G20 economies,” Tobias Adrian, who heads the IMF’s monetary and capital markets division, said Wednesday. Among private businesses in those countries, leverage is higher than before the financial crisis. And the weight of […]
