Economic news(2024/06/10)
Is non-public information shared without permission? President of Mitsubishi UFJ Bank avoids clarifying facts
2024-06-10 21:21:00
The Securities and Exchange Surveillance Commission is considering recommending administrative sanctions against banks and securities companies affiliated with Mitsubishi UFJ Financial Group for sharing non-public information about client companies without permission. Regarding this, Junichi Hanzawa, president of Bank of Mitsubishi UFJ, declined to make any clear statements about the facts, but expressed the idea that it is important to strictly follow the rules when operating the group as a whole.
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I was shown the “bonus payment statement”. Was the fixed tax reduction reflected?
2024-06-10 19:29:00
For those of you who received a bonus, have you checked your statement? The fixed tax reduction started in June, and I was shown how my payment statement had changed. How do you feel about the tax reduction? What will the tax reduction be used for? On the other hand, some companies that will be paying salaries have voiced concerns about the response.
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Yen market price falls significantly; expectations of early interest rate cut in the US due to recession
2024-06-10 18:33:00
In the Tokyo foreign exchange market on the 10th at the beginning of the week, the yen exchange rate fell sharply as expectations that the US would cut interest rates early faded away.
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Three banks raise “long-term prime rate” due to rise in long-term interest rates
2024-06-10 18:23:00
In response to the rise in long-term interest rates, Mizuho Bank, SBI Shinsei Bank, and Aozora Bank announced that they will raise the ``long-term prime rate,'' which is the standard interest rate for loans to large companies, from the 11th.
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I was shown the “bonus payment statement”. Was the fixed tax reduction reflected?
2024-06-10 18:16:00
For those of you who received a bonus, have you checked your statement? The fixed tax reduction started in June, and I was shown how my payment statement had changed. How do you feel about the tax reduction? What will the tax reduction be used for? On the other hand, some companies that will be paying salaries have voiced concerns about the response.
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Keidanren proposes introduction of "selective separate surnames for married couples" - first for Keidanren
2024-06-10 17:41:00
Keidanren has called on the government to promptly amend the laws necessary to introduce ``selective separate surnames'', arguing that the current system that does not allow married couples to have separate surnames could pose a business risk for companies as women's participation in the workforce expands. We have put together a list of recommendations that should be taken.
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May Economy Watcher survey: lower than previous month for third consecutive month due to rising prices
2024-06-10 17:06:00
The May Economy Watcher survey, which asked working people how they felt about the economy, found that there were concerns that rising prices would push down consumption, and the index showing the current state of the economy was lower than the previous month for three consecutive months. .
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Stock prices rose due to the depreciation of the yen in the foreign exchange market.
2024-06-10 16:21:00
Stock prices rose on the 10th, the start of the week, in response to the depreciation of the yen in the foreign exchange market of the Tokyo Stock Exchange.
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May Economy Watcher survey: lower than previous month for third consecutive month due to rising prices
2024-06-10 15:20:00
The May Economy Watcher survey, which asked working people how they felt about the economy, found that there were concerns that rising prices would push down consumption, and the index showing the current state of the economy was lower than the previous month for three consecutive months. .
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Ministry of Land, Infrastructure, Transport and Tourism enters Mazda headquarters to inspect performance test fraud
2024-06-10 13:57:00
On the afternoon of the 10th, the Ministry of Land, Infrastructure, Transport and Tourism conducted an on-site inspection at Mazda's headquarters in Fuchu-cho, Hiroshima Prefecture, due to an issue in which five companies, including automobile manufacturers, were committing fraud in obtaining the "type designation" necessary for mass production of automobiles. started. Due to this issue, on-site inspections have been conducted at all five companies by the 10th.
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The yen price temporarily fell to the low 157 yen level to the dollar.
2024-06-10 13:13:00
In the Tokyo foreign exchange market on the 10th, the beginning of the week, there was a move to sell the yen as expectations that the US would cut interest rates early had receded, and the yen exchange rate temporarily fell to the low 157 yen level to the dollar. Masu.
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Stock prices rose due to the depreciation of the yen in the foreign exchange market.
2024-06-10 12:13:00
At the beginning of the week, on the 10th, the Tokyo stock market and the Nikkei Stock Average rose as the yen depreciated in the foreign exchange market.
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April current account surplus of 2,050.5 billion yen, largest ever for April
2024-06-10 11:13:00
The current account balance in April, which shows how much money Japan has earned from overseas trade and investment, was a surplus of 2.505 trillion yen, the largest ever for an April. This was due to an increase in income from interest on bonds held by companies due to the rise in overseas interest rates and the weaker yen.
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Ministry of Land, Infrastructure, Transport and Tourism enters Honda headquarters to inspect vehicle performance tests
2024-06-10 10:18:00
On the 10th, the Ministry of Land, Infrastructure, Transport and Tourism began an on-site inspection of Honda's headquarters in Minato-ku, Tokyo, in response to an issue in which five companies, including automobile manufacturers, were committing fraud in obtaining the "type designation" necessary for mass production of automobiles. I did. This is the fourth company to be inspected for this issue.
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Revised GDP growth rate for January to March revised upward to minus 1.8% on an annualized basis
2024-06-10 10:00:00
The revised value of GDP (gross domestic product) from January to March this year has been revised upward from the preliminary figure of -2.0% announced last month, with an annualized real growth rate of -1.8%.
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Revised GDP growth rate for January to March revised upward to minus 1.8% on an annualized basis
2024-06-10 09:01:00
The Cabinet Office announced on the 10th that the revised value of GDP (gross domestic product) from January to March showed that the real growth rate compared to the previous three months was -1.8% on an annualized basis. This has been revised upward from the preliminary figure of -2.0% announced on the 16th of last month.
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Japanese manufacturers focus on developing surgical support robots and strengthening their businesses
2024-06-10 05:54:00
Japanese manufacturers are focusing on developing robots that support surgeries in medical settings and strengthening their businesses. Behind this is the expiration of a major patent for Da Vinci, an American company that had monopolized the market, and a serious shortage of doctors in Japan.
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Big Motor fraudulent billing: Proposal to consider setting up a self-regulatory body to prevent recurrence
2024-06-10 05:09:00
In response to a series of problems at major non-life insurance companies, such as Big Motor's fraudulent insurance claims and pre-adjustment of insurance premiums, the Financial Services Agency's expert panel has put together measures to prevent recurrence and has established a new body with the authority to punish inappropriate agents. We recommend that the establishment of a self-regulatory body be considered.
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U.S. Federal Reserve monetary policy meeting focuses on assumption of number of interest rate cuts this year
2024-06-10 05:02:00
The US Federal Reserve Board (Federal Reserve Board), which has a major impact on the yen exchange rate, will begin its meeting on the 11th to decide on monetary policy. The employment statistics released last week, Friday the 7th, showed that labor demand is firm, and with no clear outlook for an end to inflation, the focus is on how to predict the number of interest rate cuts this year.
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Bank of Japan Monetary Policy Meeting discusses yen depreciation, ways to reduce government bond purchases, etc.
2024-06-10 04:54:00
The Bank of Japan will hold a monetary policy meeting this week. As the yen remains historically weak, the meeting is expected to examine the impact of the weak yen on prices, as well as discuss how and when to reduce government bond purchases in order to move away from large-scale easing. .
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Three companies, including Bank of Mitsubishi UFJ, shared more than 10 pieces of customer information in violation of laws and regulations
2024-06-10 01:52:00
In relation to the issue in which the Securities and Exchange Surveillance Commission is considering recommending administrative sanctions against three banks and securities firms under the Mitsubishi UFJ Financial Group for sharing non-public information about client companies without permission, interviews with people involved have revealed that the amount of client information shared in violation of laws and regulations appears to be more than 10 cases involving multiple companies. In some cases, client companies noticed that information had been leaked during interactions with the securities firms and pointed it out.
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