Economic news(2024/02/01)
Aozora Bank's earnings forecast for this fiscal year has changed to a deficit of 28 billion yen
2024-02-01 21:36:00
Aozora Bank has revised its earnings forecast for this fiscal year downward and announced that its final profit and loss will be in the red by 28 billion yen, a complete reversal from its previous forecast of a surplus. This would be the first time in 15 years that the company was in the red, and the main reason was that it had increased reserves to protect against losses in the commercial real estate loan business in the United States, which continues to face difficult conditions.
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UK central bank leaves policy interest rate unchanged for fourth consecutive time since September last year
2024-02-01 21:22:00
The UK's central bank, the Bank of England, announced on the 1st that it would keep its policy interest rate unchanged at the current 5.25%. This is the fourth consecutive time interest rates have been left unchanged since September last year. In the UK, the growth rate of the consumer price index in December last year was 4% compared to the same month last year, increasing from the previous month. It appears that the Bank of England wants to maintain high interest rates to curb persistent inflation while assessing the impact on the economy.
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Softbank announces takeover of US WeWork Japan corporation business
2024-02-01 20:11:00
Mobile phone giant SoftBank has announced that it will take over the business of the Japanese subsidiary of WeWork, the American shared office giant that went bankrupt. The Japanese corporation applied to the court on the 1st to apply the Civil Rehabilitation Law, but SoftBank says it plans to continue all business in Japan.
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Spring Labor: Keidanren and Rengo top leaders agree to pass on prices, including personnel costs
2024-02-01 19:31:00
A meeting was held between the heads of Keidanren and Rengo regarding this year's spring labor union, and they agreed to work toward realizing price pass-through, including on personnel costs, in order to maintain the momentum of wage increases. In mid-February, labor unions in the automobile industry and other industries submitted written demands, and negotiations began in earnest.
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Ride-sharing demonstration experiment explained in Miura City, Kanagawa Prefecture
2024-02-01 18:55:00
Kanagawa Prefecture, which aims to introduce ``ride sharing'' in Miura City where ordinary drivers use their own cars to transport people for a fee, held a review meeting on the 1st and solicited drivers from local residents. He explained that he would conduct a demonstration experiment with a system in which taxi companies would be responsible for operation management.
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Yen exchange rate rises; interest rate differential between Japan and the US is expected to narrow due to decline in US long-term interest rates
2024-02-01 18:53:00
In the Tokyo foreign exchange market on February 1st, the yen exchange rate rose as there was an awareness that the interest rate differential between Japan and the United States was narrowing due to the decline in long-term interest rates in the United States.
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Stock prices fall Expectations that the Federal Reserve will move to lower interest rates soon In response to recession, etc.
2024-02-01 18:44:00
On the Tokyo stock market on the 1st, stock prices fell as expectations that the US Federal Reserve Board would move to lower interest rates quickly receded.
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Kirin announces acquisition of Healthia brand and other products from Kao
2024-02-01 17:38:00
Kirin Beverage announced that it will acquire the intellectual property rights to the brand and manufacturing method of Healthia, the first green tea soft drink to become FOSHU (Food for Specified Health Use), from Kao. This type of acquisition is rare in the beverage business.
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Stock prices fall, expectations that the Federal Reserve will move to lower interest rates early are set back, etc.
2024-02-01 14:04:00
On the Tokyo stock market on the 1st, stock prices were falling as expectations that the Federal Reserve, the central bank of the United States, would move to lower interest rates early have receded.
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Spring Labor: Keidanren and Rengo top leaders agree to pass on prices, including personnel costs
2024-02-01 12:20:00
A meeting was held between the heads of Keidanren and Rengo regarding this year's spring labor union, and they agreed to work toward realizing price pass-through, including on personnel costs, in order to maintain the momentum of wage increases. In mid-February, labor unions in the automobile industry and other industries submitted written demands, and negotiations began in earnest.
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Spring Labor: Keidanren and Rengo top leaders agree to pass on prices, including personnel costs
2024-02-01 11:30:00
A meeting was held between the heads of Keidanren and Rengo regarding this year's spring labor union, and they agreed to work toward realizing price pass-through, including on personnel costs, in order to maintain the momentum of wage increases. In mid-February, labor unions in the automobile industry and other industries submitted written demands, and negotiations began in earnest.
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US bank holding company acquires bankrupt bank, results in 3-month final loss
2024-02-01 11:22:00
New York Community Bancorp, a bank holding company that took over some of the deposits of American banks that went bankrupt due to the financial crisis last March, ended up in the red for the three months ending in December last year. Ta. The main factor is that companies are spending more money to prepare for bad debts, and stock prices are plummeting, raising concerns about management.
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US announces agreement to strengthen IPEF “supply chain” to enter into force
2024-02-01 09:27:00
The Biden administration in the United States has announced that an agreement aimed at strengthening the ``supply chain'' of the IPEF (Indo-Pacific Economic Framework), an economic partnership framework in which the United States and Japan participate, will take effect on the 24th of this month.
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US Federal Reserve monetary policy meeting decides to keep policy rate unchanged for 4th consecutive meeting
2024-02-01 08:23:00
The Federal Reserve Board of the United States held a meeting to decide on monetary policy, and on the 31st decided to leave the policy interest rate unchanged for the fourth consecutive meeting. Meanwhile, Chairman Powell said at a press conference that it was not likely that the Bank would decide on a rate cut at its March meeting, discouraging expectations for an early rate cut.
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US Federal Reserve monetary policy meeting decides to keep policy rate unchanged for 4th consecutive meeting
2024-02-01 06:44:00
The Federal Reserve Board of the United States held a meeting to decide on monetary policy, and on the 31st decided to leave the policy interest rate unchanged for the fourth consecutive meeting in light of the continuing slowdown in inflation. On the other hand, the statement included language to discourage expectations for early interest rate cuts.
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One month after Noto Peninsula earthquake, semiconductor and electronic parts manufacturers rush to restore factories
2024-02-01 06:38:00
February 1 marks one month since the Noto Peninsula Earthquake, and semiconductor and electronic component manufacturers, whose factories continue to be affected by the suspension of operations, are rushing to restore operations with the aim of restarting operations. However, there is also an impact from Honda and Nissan making production adjustments for some vehicle models.
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Ride sharing demonstration experiment in Miura City from May, Kanagawa Prefecture
2024-02-01 06:28:00
Kanagawa Prefecture is aiming to introduce ``ride sharing'' in Miura City, where regular drivers use their own cars to transport people for a fee.The prefecture will recruit drivers from local residents and have taxi companies take charge of operation management. We have put together a concrete plan to conduct demonstration experiments starting in May.
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Ministry of Agriculture, Forestry and Fisheries to conduct emergency investigation into damage to fishing ports in Ishikawa Prefecture, 1 month after Noto Peninsula earthquake
2024-02-01 06:18:00
One month has passed since the Noto Peninsula Earthquake, and more than 80% of fishing ports in Ishikawa Prefecture have suffered damage, including raised seabeds, and some ports are no longer able to unload fish. The Ministry of Agriculture, Forestry and Fisheries will begin an emergency investigation by experts during February, and will consider recovery methods while also confirming the intentions of local fishermen.
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SMBC Nikko Securities President Yuichiro Kondo to retire; successor announced as Managing Director Shuji Yoshioka
2024-02-01 00:11:00
SMBC Nikko Securities has announced that its president, Yuichiro Kondo, who had indicated his intention to retire once the company has paved the way for its restructuring following the market manipulation incident, will retire on April 1st.
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Ito-Yokado moves its headquarters for the first time in about 20 years as part of structural reforms
2024-02-01 00:00:00
Ito-Yokado, a major supermarket chain, has decided to move its headquarters in Chiyoda-ku, Tokyo, closer to its large stores in Tokyo. As part of our structural reforms, we aim to reduce expenses and increase the speed with which we can rebuild our business.
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