Business
Samsung workers start strike: union chief
Workers at South Korean tech giant Samsung began a three day general strike Monday, the head of a union representing tens of thousands of employees told AFP, after talks with management broke down. "The strike has started from today," Son Woo-mok, head of the National Samsung Electronics Union, told AFP,… Read
Italian fashion influencer Ferragni will donate $1.3 million in a deal to close antitrust probe
Italian fashion influencer Chiara Ferragni will donate at least 1.2 million euros ($1.3 million) under a deal with Italian antitrust authorities investigating misleading communications that led consumers to believe proceeds from the purchase of Easter eggs with her logo would go to a children's charity, officials said. Three Ferragni companies… Read
Japan's pension fund rakes in record 45 tril. yen profit in FY 2023
Japan's government pension fund on Friday reported a largest-ever profit of 45.42 trillion yen ($283 billion) for the year through March 2024, driven by higher share prices and a weak yen that inflated the value of foreign assets. The Government Pension Investment Fund, one of the world's largest institutional investors,… Read
Japan corporate bankruptcies hit 10-yr-high amid labor shortage
The number of corporate bankruptcies in Japan hit a 10-year-high in the first half of 2024, marking the 3rd consecutive year of increase for the period, as labor shortages and inflation took their toll, a credit research company said Friday. The failures, involving debts of at least 10 million yen… Read
Why are Chinese electric cars in EU crosshairs?
The European Union will impose additional provisional duties of up to 38 percent on Chinese electric cars from Friday after concluding manufacturers in China benefited from unfair state support. Here's why the Chinese electric vehicle market has raised hackles among European policymakers -- and what impact the move could have:… Read
Asian markets down as traders eye US jobs report
Japanese markets started higher before seeing early gains erased on Friday with Tokyo's benchmark Nikkei 225 index briefly hitting a record high, as traders prepared for a key US jobs report. The broader Topix index also surpassed its previous peak set in 1989. European markets had moved upward on Thursday… Read
Japan nursing care bankruptcies hit record high for Jan.-June period
The number of bankruptcies among nursing care providers in Japan for the first six months of 2024 jumped 50 percent from a year earlier to reach a record 81, amid rising prices and labor shortages, a survey by a credit research company showed Thursday. The previous high for nursing care… Read
Japan's Nikkei 225 hits new record close, as other world markets advance
Japan’s benchmark Nikkei 225 surged Thursday to a record close of 40,913.65, while most other major world markets also advanced. Investors worldwide are keen to see the Federal Reserve cut rates that it has been keeping at two-decade highs to slow growth and tame inflation, and hopes have been reviving… Read
Air taxi firm cites safety issues in dropping Osaka Expo flights
SkyDrive Inc., a Japanese air taxi startup, on Thursday cited persistent challenges in addressing safety and other technological development issues as the reason for abandoning its plan to offer commercial flights at next year's World Exposition in Osaka. SkyDrive sought to develop a flying taxi that can carry up to… Read
Nikkei, Topix end at record highs on earnings optimism
Tokyo's Nikkei and Topix stock indexes closed Thursday at all-time highs, as investors snapped up technology and exporter issues on hopes for robust earnings on the back of a weaker yen. The 225-issue Nikkei Stock Average ended up 332.89 points, or 0.82 percent, from Wednesday at 40,913.65, surpassing a record… Read
