Business
Number of Americans applying for jobless aid rises
The number of Americans applying for jobless benefits jumped last week, but not enough to raise concern about the consistently strong U.S. labor market. U.S. applications for unemployment benefits rose by 21,000 to 248,000 for the week ending August 5, from 227,000 the week before, the Labor Department reported Thursday.… Read
Honda's profit doubles on healthy global auto and motorcycle sales
Honda Motor Co has reported that its April-June profit more than doubled on healthy sales of its motorcycles and cars, as the Japanese company also received a perk from favorable exchange rates. Honda said its fiscal first quarter profit totaled 363 billion yen, up from 149 billion yen. Quarterly sales… Read
Sony's profits drop as it warns of the impact from U.S. movie strikes
Sony’s April-June profit slipped 17% from a year earlier, as worries grew about revenue damage from a strike in the movie sector, the Japanese electronics and entertainment company said Wednesday. Tokyo-based Sony Corp.’s fiscal first quarter profit totaled 217 billion yen, down from 261 billion yen a year ago. Quarterly… Read
WeWork warns it might go out of business
Embattled office-sharing firm WeWork has warned U.S. regulators that it is worried about its survival. Citing financial losses, cash needs, and a drop in memberships, WeWork said in a filing with the Securities and Exchange Commission (SEC) on Tuesday that "substantial doubt exists about the company's ability to continue as… Read
Asian markets struggle after more weak China data
Asian markets wavered Wednesday after data showing the first drop in Chinese consumer prices compounded worries about the world's number two economy. The mood on trading floors was already glum after another sell-off on Wall Street fuelled by fresh concerns over the banking sector and talk of another possible Federal… Read
Mori unveils Tokyo's tallest office tower, testing post-COVID demand
Japan's Mori Building unveiled Tokyo's tallest office tower on Tuesday, part of a sprawling business and residential complex that aims to capitalize on an investment boom in the world's third-biggest economy. At 330 meters, the Mori JP Tower anchoring the Azabudai Hills project is just slightly shorter than the iconic… Read
Japan's real wages fall in June for 15th month under inflation
Japan's real wages in June fell 1.6 percent from a year earlier, declining for the 15th straight month, as salary increases failed to keep up with accelerating inflation, government data showed Tuesday. The drop in inflation-adjusted wages reflected higher food, energy and other prices on the back of Russia's war… Read
Japan agency calls for highest pay rise for civil servants in 26 years
Japan's National Personnel Authority recommended Monday that the monthly salaries of civil servants in general positions be raised by an average 0.96 percent, or 3,869 yen, in fiscal 2023, the highest increase in 26 years. The recommendation to the Cabinet and Diet marks a significant increase from the 0.23 percent… Read
Troubled Toshiba announces buyout offer led by Japan businesses
Toshiba announced a 2 trillion yen tender offer on Monday in a move that would take it private, as the scandal-tarnished Japanese electronics and energy giant seeks to turn itself around. The tender offer led by a buyout fund of major Japanese banks and companies called Japan Industrial Partners starts… Read
Boeing says troubled Starliner will be ready to fly crew by March
Boeing on Monday said its Starliner spaceship will now be ready to carry out its first crewed flight by March -- though the actual launch date will depend on space calendar constraints. The troubled program has experienced numerous postponements but was finally meant to send astronauts to the International Space… Read
