Japan
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Mitsubishi Corp will Pay 100,000 Yen to Each Japanese Owners of Models Affected by Mileage Scandal

Mitsubishi Corp will Pay 100,000 Yen to Each Japanese Owners of Models Affected

Mitsubishi Motors Corp it reeling under the scandal related to manipulated fuel-economy data in several of its models.

On Friday, the Tokyo, Japan based car maker said that in the ongoing financial year, it will book 50 billion ($479.5 million) one-time loss. That more than triples the anticipated cost related to the scandal.

Foxconn’s Takeover Deal for Sharp on hold; Shares Drop Considerably

Foxconn’s Takeover Deal for Sharp on hold; Shares Drop Considerably

On Thursday, ailing Japanese electronics company Sharp announced it had decided to sell two-thirds of its stake to Foxconn, which is as contract manufacturing firm and key supplier for Apple Inc.

However, on Friday the takeover deal reached a snag as Taiwan's Foxconn put the deal on hold. According to sources, liabilities that were not disclosed earlier and amounts to "hundreds of billions of yen" were mainly responsible for the last moment delay. Following the news, Sharp's shares dropped considerably.

Petrobras Plans to Sell Stake in Gaspetro to Japan’s Mitsui

Petrobras Plans to Sell Stake in Gaspetro to Japan’s MitsuiSources having knowledge of the matter said that the board of state-controlled Petróleo Brasileiro SA has given a green signal to sell a minority stake in one of the natural gas distribution units to Mitsui & Co Ltd, of Japan. However, the deal is not finalized as yet and things depend on some aspects that are yet to be decided.

The Federal Reserve May Delay the Interest Rate Hike

The Federal Reserve May Delay the Interest Rate Hike

With stock markets looking shaky and slowing economic growth in China and Japan the Feds might think harder before taking a decision of raising the interest rates soon.

The Federal Reserve officials appear to be backing off from the stand where they were considering raising the key interest rates sometime this September. Reportedly there is no popular agreement among the Fed officials for a rise in the interest rate in September. The Federal Reserve will hold a policy meeting on September 16-17 and there is much speculation regarding its results.

Government Lifts Evacuation Order for Naraha Town, Near Damaged Fukushima No. 1 Nuclear Plant in Japan

On Friday midnight, the Japanese government  lifted its evacuation order for the town of Naraha which lies within twenty kilometers of Fukushima No. 1 nuclear power plant where disaster had struck in 2011 due to a tsunami. The reactor meltdown accident due to the natural disaster made the Government Issue an evacuation order for the residents. The town located close to the power plant which belonged to Tokyo Electric Power Co, is now being called for a new start.

Jesper Koll to Head WisdomTree Investments Inc’s Japanese Unit

Jesper Koll to Head WisdomTree Investments Inc’s Japanese UnitJesper Koll is joining WisdomTree Investments Inc. as its Chief Executive Officer in Japan. He was leading the equity research division at JPMorgan Chase & Co. earlier.

Toyota’s Chief’s Attempt to Diversity may Lead to Trouble

Toyota’s Chief’s Attempt to Diversity may Lead to TroubleAkio Toyoda's move in March of promoting three non-Japanese executives at top levels at headquarters of Toyota doesn't seem to be working well. The effort was intended in making the largest automaker of the world, more representative of the worldwide markets which it serves.

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