Global Economy / Italian banks undermined by local politicians 5:36 am, January 09, 2017

  • Global Economy / Italian banks undermined by local politicians

    The financial troubles of Italian banks have reemerged. This is mainly due to political instability in Italy following the resignation in December of Prime Minister Matteo Renzi, who sought constituti…

  • India sees slowing economy for the current fiscal year

    NEW DELHI (Reuters) — India on Friday predicted robust economic growth in the fiscal year that ends in March, but the forecast does not fully account for disruption caused by Prime Minister Narendr…

  • New policies could take weight off Fed

    CHICAGO (Reuters) — A push by Washington for more business-friendly regulation and fiscal support for the economy could improve the United States’ mix of policies which in recent years have relie…

  • U.S. shale gas arrives in Japan

    TOKYO (Jiji Press) — A shipment of liquefied natural gas derived from U.S. shale arrived in Japan for the first time on Friday. A tanker carrying 70,000 tons of shale-based LNG arrived at a therma…

  • FAA gives Space X rocket approval to resume flying

    CAPE CANAVERAL, Fla. (Reuters) — Elon Musk’s SpaceX rocket company has been cleared to resume flying following a launch pad explosion four months ago, the U.S. Federal Aviation Administration sai…

  • Norway to switch off FM radio in move to digital

    OSLO (Reuters) — Norway is set to become the first nation to start switching off its FM radio network this week, in a risky and unpopular leap to digital technology that will be closely watched by …

  • China sales surge in 2016 for automakers; dull 2017 ahead

    BEIJING (Reuters) — Global automakers reported a surge in China sales last year as consumers rushed to take advantage of a tax cut on small-engine cars, but cautioned 2017 would be tougher for the i…

  • SMFG to establish biometrics company

    Sumitomo Mitsui Financial Group Inc. (SMFG) plans to establish a company that provides biometric authentication services together with a major Japanese IT company and an Irish company as early as thi…

  • Dow rises to nearly 20,000 level

  • Tokyo stocks expected to remain firm ahead of Trump news conference

    TOKYO (Jiji Press) — Tokyo stocks are expected to stay on a firm note, while incoming U.S. President Donald Trump’s remarks on Wednesday at his planned first news conference since winning the pre…

  • U.S. adds jobs; jobless rate rises to 4.7%

    WASHINGTON (AP) — U.S. employers added 156,000 jobs in December, capping a year of slower but solid hiring and providing the last major snapshot of the economy President-elect Donald Trump will inh…

  • China forex reserves fall, but less than expected

    BEIJING (Reuters) — China’s foreign exchange reserves fell for a sixth straight month in December but by less than expected to the lowest since February 2011, as authorities stepped in to support…

  • U.S. trade deficit climbs to $45.2 billion in Nov.

    WASHINGTON (AP) — The U.S. trade deficit in November rose to the highest level in nine months as imports of oil and other foreign goods increased, while American exports fell for a second month. T…

  • Battered Bitcoin slides another 12%

    LONDON (Reuters) — Bitcoin plunged by as much as 12 percent on Friday after China’s central bank urged investors to take a rational and cautious approach to investing in the digital currency, whi…

  • Trump’s tweet has companies shaken

    TOKYO (Jiji Press) — Japanese firms are shocked by Donald Trump’s Twitter bomb dropped on Toyota Motor Corp. over a planned factory in Mexico, as their concerns about an attack by the U.S. preside…

  • Trump raps Toyota’s Mexico plan

  • Boeing, Airbus brace for slowdown as airplane-buying binge nears end

    CHICAGO (Bloomberg) — The unprecedented jetliner shopping spree that’s spanned more than a decade is drawing to a close.  That’s bad news for Boeing Co. and Airbus Group SE, which face slowing…

  • Samsung’s profit jumps 50 percent despite Galaxy fiasco

    SEOUL (AP) — Samsung Electronics Co. said Friday that its profits in the last quarter of 2016 surged 50 percent to the highest level in more than three years, despite the Galaxy Note 7 fiasco. Ana…

  • Trump hits Toyota on plan to build auto plant in Mexico

  • Honda, Toyota unveil concept cars with AI in Las Vegas

    LAS VEGAS (Jiji Press) — Honda Motor Co. at a major trade show in Las Vegas on Thursday unveiled its NeuV concept self-driving car that can also be used as a driverless taxi and earn money. Using…

  • Carmakers include life-saving features to protect pedestrians

    Automakers are improving car functions that protect pedestrians as a result of government safety evaluations aimed at protecting people outside of cars as well as inside them. The government aims to r…

  • Capsule toy vending machines luring foreign tourists at Narita

    NARITA, Chiba (Jiji Press) — Capsule toy vending machines installed at Narita Airport have become magnets for foreign visitors. T-Arts Co. set up a total of 325 vending machines to dispense capsu…

  • Tesla, Panasonic start mass battery output

    LAS VEGAS (Jiji Press) — Tesla Motors Inc. said Wednesday that it and Panasonic Corp. have launched mass production of lithium-ion battery cells at a plant being jointly built by the two companies …

  • U.S. new auto sales hit record high in 2016

    DETROIT (AP) — U.S. consumers bought a record number of new cars and trucks in 2016. A repeat performance in 2017 could be a tall order. Low gas prices, rising employment and low interest rates k…

  • Ford, Toyota form telematics bloc to stymie Google, Apple

    CHICAGO (Bloomberg) — Ford Motor Co. and Toyota Motor Corp. have formed a consortium with four medium-size automakers to speed development of auto-industry standards for in-vehicle apps, a step tow…

  • Tillerson to get $180 mil. retirement package

    NEW YORK (AP) — Rex Tillerson will get a $180 million retirement package from Exxon Mobil Corp. if he is confirmed as U.S. President-elect Donald Trump’s secretary of state. Tillerson will give…

  • Fed minutes: Upside risks to economic growth increased

    WASHINGTON (AP) — U.S. Federal Reserve Board officials, who boosted a key interest rate last month, said they might need to accelerate future rate hikes if a faster-growing economy pushes down the …

  • 2 regional banks eyeing integration

    TOKYO (Jiji Press) — Mie Bank and Daisan Bank, both operating mainly in Mie Prefecture, are in talks on integrating their businesses, it was learned Thursday. They are working to reach an agreeme…

  • Trump names lawyer Clayton as SEC chief

  • Macy’s to cut more than 10,000 jobs

    Macy’s says it is eliminating more than 10,000 jobs and plans to move forward with 68 store closures after a disappointing holiday shopping season. The department store chain also lowered its full-…

  • Ford scraps Mexico plant amid Trump criticism

    FLAT ROCK, Mich. (Reuters) — Ford Motor Co. on Tuesday scrapped a planned Mexican car factory and added 700 jobs in Michigan following criticism by Donald Trump, as the U.S. president-elect turned …

  • Self-driving, AI in spotlight at Las Vegas intl tech show

    LAS VEGAS (Jiji Press) — This year’s International Consumer Electronics Show, or CES, will open in Las Vegas on Thursday, with autonomous driving and artificial intelligence technologies expected…

  • JTB to launch wide-area bus tours for foreigners

    TOKYO (Jiji Press) — Travel agency JTB Corp. will fully launch bus tours for foreigners that cover tourist spots in wide areas of the country in the year starting in April. The tours, which will h…

  • LSE sells clearing business to Euronext

    London Stock Exchange Group has agreed to sell its French clearing business to Euronext for €510 million ($534 million), as it seeks to win regulatory approval for its proposed merger with Deutsche…

  • Concerns arise for Hokuriku extension

    There are mounting calls from local municipalities and economic groups for an earlier opening of the “Obama-Kyoto” Hokuriku Shinkansen extension route, which runs from Tsuruga, Fukui Prefecture, t…

  • Trump taps China critic Lighthizer for U.S. trade chief

  • Tokyo stocks kick off 2017 strong with sharp gains

    TOKYO (Jiji Press) — Stocks made a robust start to 2017 thanks to across-the-board buying on the Tokyo Stock Exchange Wednesday, adding to the festive mood created by a ceremony to mark the start o…

  • S. Korea axes 2 Nissan models’ certifications

    SEOUL (Jiji Press) — South Korea’s Environment Ministry has announced the revocation of certifications for two Nissan Motor Co. vehicle models, concluding that documents related to the certificati…

  • Fallout from VW scandal

    SEOUL (Reuters) — South Korea has banned the sale of 10 models of Nissan, BMW and Porsche vehicles after the carmakers were found to have fabricated certification documents, in the latest fallout f…

  • Hakone to add features for tourism revival

    YOKOHAMA — A number of top-class hotels and ryokan inns are expected to open this year in Hakone, Kanagawa Prefecture, targeting primarily wealthy guests and women. Although hotel guests dropped …

  • Just 10 years to go before launch of maglev Shinkansen

    TOKYO (Jiji Press) — Work for a magnetic levitation, linear motor Shinkansen bullet train line has started in various related locations, with 10 years to go before the scheduled launch in 2027 of t…

  • Start-ups run by women getting more govt loans

    TOKYO (Jiji Press) — Loans to women who aim to start businesses on a small scale are increasing in Japan, in line with a government policy of boosting women’s role in the economy and society. The…

  • 2017 begins on solid footing

    SINGAPORE (Reuters) — Global markets marched confidently into 2017 on Tuesday, with Asian stocks extending gains after European shares surged to their highest in a year and the dollar resuming its …

  • Wonderful world of 360-degree photos

    Photo enthusiasts will have a blast with lightweight digital cameras that can create 360-degree images, whether they are photographs with family members or panoramic scenes. But be warned: a smartphon…

  • Machine tool manufacturers making inroads in Russia

    TOKYO (Jiji Press) — Japanese machine tool manufacturers are making further inroads in Russia, after Tokyo agreed to offer economic support to Moscow at a bilateral summit last month. Russia is tr…

  • Printemps Ginza ends 32 yrs in business

    TOKYO (Jiji Press) — The Printemps Ginza department store, which has continued attracting young working women, closed its doors on Saturday, some 32 years after it was launched in Tokyo’s fashion…

  • Concentration of shareholder meetings set to be eased

    TOKYO (Jiji Press) — Holding shareholders’ meetings in late June has been a common practice by many companies for years, but beginning in fiscal 2017, they will be allowed to call annual gatherin…

  • New insurance to cover sidelined athletes’ pay

    Tokio Marine & Nichido Fire Insurance Co. has released a new product for professional sports teams to cover the payments they make to players who are sidelined due to injuries and other reasons. The…

  • Will BOJ depart from easing policy of the past?

    TOKYO (Jiji Press) — The biggest focus in the Bank of Japan’s monetary policy in 2017 is whether the central bank will depart from its approach of repeatedly taking additional accommodative measu…

  • Key things to note as euro turns 15

    FRANKFURT (AFP-Jiji) — The euro, used by nearly 340 million people each day, celebrates its 15th birthday on Sunday. Like a teenager in the throes of adolescence, the euro has lurched from crisis …

  • Most global markets finish year in the black

    NEW YORK (AFP-Jiji) — Most world stock markets finished 2016 in positive territory despite shock votes in Britain and the United States, but the outlook for 2017 is clouded by looming European ele…

  • Tokyo stocks up for year as 2016 ends

    TOKYO (Jiji Press) — The Tokyo Stock Exchange held a ceremony on Friday to mark the final trading day of 2016, featuring Kaori Icho, who won the People’s Honor Award after capturing her fourth co…

  • Highly functional hairdryers meet users’ needs

    High-function hairdryers that bring out the best in users’ hair are enjoying strong popularity. Some produce ions to prevent hair from getting rough and dry, while others are equipped with a brus…

  • Crab prices surging amid falling imports

    TOKYO (Jiji Press) — Prices of crab, a delicacy for Japanese, especially in the year-end and New Year period, are surging on the back of a sharp fall in imports, including from Russia and Alaska. W…

  • Indian rupee window closes as Modi eyes upcoming poll

  • Italian minister chides ECB move

    MILAN (AP) — Italy’s premier said Thursday that he was taken aback by the European Central Bank’s move to significantly increase the amount of money needed to save the troubled bank Monte dei P…

  • What it means if Trump names China manipulator

    WASHINGTON (AP) — President-elect Donald Trump has vowed to name China a currency manipulator on his first day in the White House. There’s only one problem — it’s not true anymore. China, th…

  • Nippon Steel president predicts low global prices to continue until at least 2020

    As low global steel prices caused by overproduction in China continue, Kosei Shindo, president of Nippon Steel & Sumitomo Metal Corp., predicted in a recent interview with The Yomiuri Shimbun that the…

  • China’s market pain seen worsening as bonds pressured

    SHANGHAI (Bloomberg) — China’s money-market liquidity squeeze is about to get worse. The benchmark seven-day repurchase rate will average 2.65 percent in the first quarter, up from 2.46 percent …

  • Takata could settle U.S. criminal case / Air bag maker could pay up to $1 billion

    Takata Corp., maker of defective air bags that have been linked to 11 U.S. deaths, could settle criminal charges with the U.S. Justice Department before the Obama administration leaves office next mo…

  • Trump hails return of 8,000 jobs pledged by SoftBank

    PALM BEACH, Fla. (AP) — After weeks of giving only brief comments to the media, Donald Trump made a series of public statements Wednesday, applauding the return of 8,000 jobs to the U.S. and hailing…

  • Korea Fair Trade Commission fines Qualcomm $854 mil.

    SEJONG, South Korea/SAN FRANCISCO (Reuters) — South Korea’s antitrust regulator fined Qualcomm Inc. 1.03 trillion won ($854 million) for what it called unfair business practices in patent licens…

  • Wall Street falls weigh down stocks in Tokyo

    TOKYO (Jiji Press) — Stocks plunged on the Tokyo Stock Exchange on Thursday, weighed down by a Wall Street sell-off overnight and the yen’s advance against the dollar. The 225-issue Nikkei aver…

  • Toyota seen falling from top spot in global sales

    TOKYO (Jiji Press)—Toyota Motor Corp. is almost certain to fall from the top spot in global automobile sales for the first time in five years in 2016, losing to Germany’s Volkswagen AG, it was le…

  • Toshiba faces major loss; stock tumbles

    TOKYO/NEW YORK (Reuters) — Toshiba Corp. said it may have to book several billion dollars in charges related to a U.S. nuclear power plant construction company acquisition, sending its stock tumblin…

  • U.S. stocks up slightly behind upbeat consumer data

    NEW YORK (Reuters) — U.S. stocks rose slightly on Tuesday, supported by upbeat consumer and housing data, with gains in technology shares lifting the Nasdaq Composite to a record close. At just ov…

  • Chain eateries move to end 24-hr outlets

    TOKYO (Jiji Press) — Restaurant chain companies in Japan are increasingly ceasing around-the-clock operations, due to the falling number of late-night customers and rising wages for part-time worker…

  • Kuroda: Japan no longer in deflation

    TOKYO (Jiji Press) — The global economy is increasingly showing signs of pickup and overcoming the slowdown triggered by the collapse of U.S. investment bank Lehman Brothers in 2008, Bank of Japan G…

  • Core consumer prices drop 0.4% in Nov.

    TOKYO (Jiji Press) — Core consumer prices in Japan, excluding volatile fresh food prices, in November fell 0.4 percent from a year earlier, going down for the ninth straight month, the government sa…

  • Korean Air to get tough on unruly passengers with stun guns, male staff

    GIMPO, South Korea (Reuters) — Korean Air Lines said it will allow crew members to “readily use stun guns” to manage violent passengers, and hire more male flight attendants, after coming in fo…

  • Nov. jobless rate inches up to 3.1%

    TOKYO (Jiji Press) — Japan’s seasonally adjusted unemployment rate stood at 3.1 percent in November, up 0.1 percentage points from the previous month, the Internal Affairs and Communications Mini…

  • METI manipulated industry survey results for at least 55 months

    TOKYO (Jiji Press) — The Economy, Trade and Industry Ministry has admitted to padding the number of respondent companies of its monthly survey on the textile industry for at least four years and sev…

  • Toshiba poised to incur massive loss in N-power business

    Toshiba Corp. may incur a loss of as much as several hundred billion yen from its nuclear power generation business in the United States in the period ending March 2017, according to sources. Tos…

  • Final chance to grab some luck

    So-called fukubukuro lucky bags are prepared at the Printemps Ginza department store in Chuo Ward, Tokyo, on Monday, before the store closes Saturday after 32 years in business. While traditionally …

  • TEPCO to supply household gas

    TOKYO (Jiji Press) — TEPCO Energy Partner Inc. said Monday that it has concluded a gas wholesaling agreement with Nippon Gas Co., ahead of the full liberalization of Japan’s gas retail market in …

  • Super Mario app loses top spot after strong debut

    TOKYO (Bloomberg) — The initial excitement surrounding Nintendo Co.’s debut mobile game, “Super Mario Run,” appears to be wearing off. The title, released on Dec. 15 for Apple Inc. devices,…

  • Blindsided by SUVs, Hyundai trims costs

    SEOUL (Reuters) — Headed for a fourth straight annual profit decline, Hyundai Motor is trimming its cost fat; scaling back on business class flights and annual family home trips for overseas employ…

  • Vanilla Air launches regular Narita-Cebu flight services

    NARITA, Chiba (Jiji Press) — Japanese low-cost carrier Vanilla Air has launched regular flights connecting Narita Airport and Mactan-Cebu International Airport in the Philippines. The unit of ANA …

  • Tokyo stocks weaker in thin trading amid Christmas lethargy

    TOKYO (Jiji Press) — Stocks moved on a weak note in thin trading on the Tokyo Stock Exchange on Monday, with foreign investors, major players on the market, absent due to the Christmas holidays. …

  • Services producer prices up 0.3% in Nov.

    TOKYO (Jiji Press) — Japan’s services producer prices in November rose 0.3 percent from a year earlier, up for the 41st consecutive month, the Bank of Japan said Monday. The services producer p…

  • Sales bubbling up for sparkling alcohol

    Imports of champagne and other sparkling wine are increasing, boosted by their popularity as a pleasant drink mainly among women and young people. The market’s expansion has also been spurred by the…

  • Debt fears cloud China’s ability to tighten policy

  • Saudis to sell 49% of Aramco within decade

  • Putin declares economy on recovery path

  • Megafon to buy majority stake in

  • Canadian dollar hits 5-week low

  • Weaker Canadian economy set for slowdown

  • U.K. consumer confidence slips

  • ANA to boost resort routes from next year

  • European banks agree to settlements

  • Monte dei Paschi’s rescue plan a relief for Italian investors

  • Hotels to earn ‘stars’ for saving energy

  • English only? Nein, danke: German linguists sell VW shares

  • Airbus seals deal with Iran for sale of 100 aircraft

  • Work style reforms set out in FY17 budget plan

  • Icahn says bank regulations, EPA hamper U.S. economy

  • ‘Zaito’ investments, loans to rise

  • Japan Post to raise postal rates for 1st time in 23 yrs

  • Bailout looms for Italy’s Monte dei Paschi bank

  • U.S. grew at strong 3.5% annual rate in 3rd qtr

  • Firms focus on IoT expansion in China

  • Japan falls in dollar GDP ranking

  • Mobile game ‘Pokemon Go’ lands on Apple Watch

  • Businessmen fascinated by ‘randoseru’ in Japan

  • Trump picks China hawk to lead new White House trade council

  • Wall Street hits record highs, dollar rises to 14-year peak

  • BOJ gets breather as outlook improves

  • VW to spend $1 bil. to fix, buy back cars

  • Banknotes in circulation top ¥100 tril. for 1st time

  • China’s money markets battle deficits of cash and trust

  • Japan Display to receive up to ¥75 bil. from govt-backed fund

  • Tokyo taxi starting fare to fall to ¥410 from Jan.

  • Govt upgrades economic assessment

  • Fukushima compensation costs to be added to TEPCO grid fees

  • BOJ boosts economic view, sticks to policy

  • SoftBank makes 1st move to fulfill $50 bil. pledge to Trump

  • Yellen trumpets education in bright outlook for job market

  • Idemitsu takes only 31.3% stake in Showa Shell

  • National presence gives FamilyMart, Seven & i an edge in China

  • Australia’s projected annual deficits worsen

  • Analysis / Yahoo security problems a story of too little, too late

  • Hotel maids in Spain fight back against low salaries

  • Iran reaches 100-jet deal with Airbus

  • China’s Nov. home prices show govt curbs starting to cool sharp rally

  • Household accounting apps get smarter

  • Deficit bond issuance to be cut for 5th straight year

  • Ireland accuses EU in Apple tax case

  • Household assets rise to ¥1.752 quadrillion

  • Massive amusement complex opens in Dubai

  • Nikkei snaps 9-day advance on yen rise, weak U.S. equities

  • Japan logs trade surplus for 3rd straight month

  • Scotland to unveil plan for single Brexit market

  • Australian economy shows hiring turnaround

  • Venezuela postpones currency move after chaos

  • China targets U.S. company in sign of possible retaliation

  • Instagram users top 600 mil.

  • German economy shows strength

  • Marronnier Gate 2, 3 to open in Ginza on Mar. 15

  • Retailers tailor wardrobes for business

  • Conclusion of Japan-EU EPA put off

  • Soaring vegetable prices weighing heavily on family budgets

  • Fox strikes $14.6 billion deal to buy Europe pay-TV firm Sky

  • Toyota seeks global sales of 10.2 mil. units in 2017

  • ‘Super Mario Run’ launched on smartpone

  • U.N.: Major slowdown in wage growth worldwide

  • Japan-Russia cooperation seen totaling ¥300 bil. across 60 projects

  • Dollar rises above ¥118

  • Yahoo hacking likely to affect deal with Verizon

  • Paschi to proceed with share sale

  • US files WTO complaint against China over grain import restrictions

  • Beer brewery firms reviewing strategies ahead of tax reforms

  • Japan overtakes China as world’s largest holder of U.S. Treasuries

  • TEPCO to form consortium with industry peers in 2020s

  • Yahoo suffers biggest security breach in history

  • Dollar rises to 14-year peak after Fed interest rate hikes

  • Trump meet with Silicon Valley CEOs

  • Nigerian 2017 deficit to rise to $7.75 billion

  • Fed raises key rate, foresees 3 hikes in ’17

  • JAL flyers get happi to commemorate Beatles visit

  • China’s economy defies prophets of doom

  • Italy’s largest bank to shed jobs in aggressive overhaul

  • Venezuelans rush to unload notes before deadline

  • BOJ: Manufacturers’ mood improves

  • Asahi expands in Europe with AB InBev deal

  • MMC shareholders OK Ghosn as chairman

  • Google signs deal with Cuba to speed net service

  • Mercedes-Benz poised to topple BMW as world’s luxury-car king

  • WhatsApp, Skype set to come under new EU security rules

  • Apple may join $100 bil. fund set up by SoftBank

  • Carmakers rev up development of internet-connected vehicles

  • Long-term bond yields soar on bets for Trump growth policy

  • China challenges U.S., EU over market economy status

  • ‘Premium Friday’ to start in Feb.

  • EU urges Japan to remove cheese tariffs

  • October core machinery orders up 4.1%

  • Shortage of workers hurts restaurants, construction firms

  • Italy’s MPS presses ahead in search for private capital

  • Iran seals $17 billion Boeing deal

  • Nikkei ends above 19,000 on yen drop

  • Oil prices soar on deal to cut crude output

  • Dollar lifted by surging stock prices to hit 10-month high

  • Analysis / South Korea can now prepare for better govt

  • BMPS reels on ECB deadline decision

  • Murdoch’s 21st Century Fox buys remaining U.K. Sky stake

  • U.K. to ban junk food ads targeting children

  • Texas Shinkansen project moves forward with JR Tokai support

  • Govt fund mulls ¥50 bil. support for Japan Display

  • Big firms’ business sentiment up

  • Michael Jordan wins China court ruling after yearslong case

  • McDonald’s moves non-U.S. tax HQ to Britain from Luxembourg

  • ECB to scale back asset buys as it extends move through ’17

  • Chinese firm scraps German tech deal after Obama veto

  • Financial literacy survey shows Japan-U.S. gap in knowledge

    A survey conducted on financial literacy found that people in Japan have a poorer understanding of financial matters than respondents to similar surveys conducted in the United States and by the Orga…

  • Analysis / ‘Trump Thump’ whacks bond market

  • President-elect may save banks billions

  • Nikkei rises over 17,000 as election fears recede

  • Wall St. taken aback by Clinton loss

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