Japan stocks decline as recession dents demand for materials
STOCKS
Japan stocks slumped as prospects for a prolonged recession dimmed the earnings outlook for manufacturers and commodities producers.
(11) [BLOOMBERG]
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Tuesday
May 21 07:06 pm (JST) |
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STOCKS
Japan stocks slumped as prospects for a prolonged recession dimmed the earnings outlook for manufacturers and commodities producers.
(11) [BLOOMBERG]
BUSINESS
Aiming to embarrass companies into better behavior, the labor ministry plans to publish the names of those that withdrew job offers made to graduating students in an attempt to discourage unilateral cancellations, sources said.
(3) [ASAHI]
BUSINESS
Nippon Oil Corp., the largest oil distributor in Japan, and major distributor Nippon Mining Holdings Inc., will integrate their business by establishing a holding company, possibly in the fall of 2009, sources familiar with the plan said Thursday.
(2) [KYODO]
BUSINESS
Lawrence Lindsey, a former economic policy adviser to U.S. President George W. Bush, told Japanese lawmakers in Tokyo on Wednesday the U.S. dollar could slip below 90 yen, the lawmakers said.
(3) [KYODO]
BUSINESS
The government is drafting a new employment stimulus package under which it will grant a subsidy of up to 1 million yen per person to companies hiring non-student part-timers as full-time employees, informed sources said Tuesday.
[KYODO]
POLLS
In an extraordinary monetary policy meeting Tuesday, the Bank of Japan said it would help companies get operating funds toward the yearend by accepting lower-rated corporate debt from banks as collateral for loans.
[THE JAPAN TIMES]
BUSINESS
With the new citizen judge system just months away, companies are trying to figure out ways to cope with possible interruptions to their business caused by staff forced to take leave.
[ASAHI]
BUSINESS
About 30,000 nonregular workers have lost or are set to lose their jobs in the six months through March, the Health, Labor and Welfare Ministry said Friday.
[YOMIURI]
BUSINESS
Business sentiment among small and midsize companies has deteriorated to the worst level on record, with falls in exports of automobiles and home appliances hitting subcontractors, according to recent surveys by two government-affiliated financial institutions.
[KYODO]
STOCKS
Japan stocks rose, capping their best weekly gain in a month, on expectations governments will take more steps to pull the global economy out of recession.
[BLOOMBERG]
BUSINESS
The British beer maker Diageo plc said Wednesday that it will end its sales and distribution contract with Sapporo Breweries Ltd. in May next year.
[ASAHI]
BUSINESS
The world’s leading mobile phone maker Nokia said on Thursday it would stop selling and marketing its mobile devices in Japan because its market share there remained below expectations.
[AFP]
STOCKS
Tokyo stocks gave up early modest gains to close sharply lower Tuesday due to falls in key Asian equities and anxiety about Japan’s political landscape following Prime Minister Yasuo Fukuda’s abrupt announcement Monday that he will resign.
[KYODO]
BUSINESS
The ordinary Diet session that came to a close Saturday was characterized by a number of unprecedented events.
[YOMIURI]
BUSINESS
Nearly 40 percent of local business leaders believe their regional economies are slowing down or deteriorating because of soaring prices of crude oil and raw materials, according to a recent Asahi Shimbun survey.
[ASAHI]
BUSINESS
Japan’s government may signal it will consider cutting corporate taxes in an effort to encourage more foreign investment into an economy expected to grow at the slowest pace in five years this year.
(1) [BLOOMBERG]
STOCKS
Japan’s Nikkei stock average slid 0.6 percent to a nearly one-month closing low on Monday as Mitsubishi Estate Co and other property developers took a beating on reports of lower condominium prices, while blue-chip exporters slid after Wall Street tumbled.
(2) [REUTERS]
BUSINESS
Representatives from labor organizations, employers and the government have reached a broad agreement to raise minimum hourly wages to a national average of about 755 yen, up 68 yen from the current 687 yen, over the next five years.
[YOMIURI]
BUSINESS
The Securities and Exchange Surveillance Commission on Thursday urged the Financial Services Agency to slap an administrative fine of about 1.6 billion yen on heavy machinery maker IHI Corp. for submitting false financial statements.
[ASAHI]
BUSINESS
Citigroup Inc. offered 1,350 employees at its consumer finance unit in Japan early retirement with two months’ pay as the company withdraws from the business, a proposal the workers’ union called unacceptable.
[BLOOMBERG]