Business
Japan's average pay hike tops 5% for 1st time in 33 yrs amid price rises
Japanese companies agreed to raise wages by an average 5.10 percent in this year's spring wage talks, offering a more than 5 percent increase for the first time in 33 years amid salary growth failing to keep pace with inflation, the country's largest labor union said Wednesday. The Japanese Trade… Read
Strong earnings help Japan post record tax revenue for 4th year
Japan's tax revenue for fiscal 2023 reached a record 72.08 trillion yen ($445 billion), the Finance Ministry said Wednesday, setting a new high for the fourth consecutive year, boosted by strong corporate earnings. The revenue for the year ended in March, up around 2.5 trillion yen from the government's initial… Read
Microsoft will pay $14 mil to settle allegations it discriminated against employees who took leave
Microsoft Corp. has agreed to pay $14.4 million to settle allegations that the global software giant retaliated and discriminated against employees who took protected leave, including parental and disability, the California Civil Rights Department announced Wednesday. The proposed settlement stems from a multi-year investigation by the California agency and the… Read
Cash-based Japan issues first new bills in two decades, designed against counterfeiting
Japan issued its first new banknotes in two decades Wednesday, yen packed with 3-D hologram technology to fight counterfeiting. Prime Minister Fumio Kishida praised as “historic” the state-of-the-art anti-counterfeit traits of the new 10,000 yen, 5,000 yen and 1,000 yen bills. “I hope the people will like the new bills,… Read
Japan declares victory in effort to end government use of floppy disks
Japan's government has finally eliminated the use of floppy disks in all its systems, two decades since their heyday, reaching a long-awaited milestone in a campaign to modernize the bureaucracy. By the middle of last month, the Digital Agency had scrapped all 1,034 regulations governing their use, except for one… Read
Fujifilm once struggled to sell cameras. Now, it can't keep up with demand
For years, Japan's Fujifilm pivoted away from its legacy camera business to focus on healthcare. But thanks in large part to the TikTok crowd, its retro-themed X100 digital cameras are now a roaring success, boosting its bottom line. Fujifilm is struggling to meet demand for the $1,599 camera, prized by young 20-something social… Read
Summer hours are a perk small U.S. businesses can offer to workers to boost morale
With summer having gotten off to a scorching start, workers across the U.S. may be dreaming of a seaside escape or cutting out early to watch a movie in an air-conditioned theater. For some, that can be a reality. Business owners have found that offering summer hours – a reduced… Read
Japan revises economic growth in first quarter downward
Japan revised its earlier estimates to show that its economy contracted at a 2.9% annual pace in the first quarter of the year, as meanwhile a survey by the central bank released Monday showed conditions remain sluggish. Analysts had expected the downward revision in the GDP data for January-March and… Read
Surveys show Chinese economy growing but at modest pace
Surveys of Chinese factory managers showed a mixed outlook for the world's second-largest economy in June, with growth steady but not picking up much steam. The China Federation of Logistics and Purchasing's official purchasing managers index, or PMI, remained at 49.5, the same as in May, on a scale up… Read
Boeing to buy subcontractor Spirit for $4.7 billion
U.S. aircraft manufacturer Boeing said Monday it had reached a "definitive deal" to buy its subcontractor Spirit, which has faced scrutiny over production quality control in recent months. "The merger is an all-stock transaction at an equity value of approximately $4.7 billion, or $37.25 per share," the company said in… Read
