Economic news(2024/07/24)
The yen strengthened in the London market, temporarily reaching the upper 153 yen range against the dollar.
2024-07-24 21:57:00
On the 24th, the yen strengthened against the dollar in the London foreign exchange market, temporarily reaching the upper 153 yen range. As the market was expecting that the Bank of Japan would speed up the normalization of monetary policy, the interest rate differential between Japan and the US was narrowing, and there was a growing trend to buy yen and sell dollars.
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National average hourly minimum wage to rise by 50 yen to 1,054 yen
2024-07-24 21:53:00
The Ministry of Health, Labor and Welfare's council discussing the minimum wage has decided to raise the hourly wage by 50 yen this fiscal year, the largest increase to date, taking into account continuing high prices, bringing the national average hourly wage to 1,054 yen.
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National average hourly minimum wage to rise by 50 yen to 1,054 yen
2024-07-24 21:17:00
The Ministry of Health, Labor and Welfare's council, which has been debating raising the minimum wage, has agreed to raise the hourly wage by 50 yen, the largest increase in history, this fiscal year. The national average hourly wage will be 1,054 yen, the highest it has ever been.
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Hong Kong investment fund acquires more than 5% stake in Kobayashi Pharmaceutical
2024-07-24 21:13:00
It has been revealed that a Hong Kong investment fund known as an "activist" that actively calls for management reforms at the companies in which it invests has acquired just over 5% of the shares of Kobayashi Pharmaceutical, which has seen its two top executives resign over a scandal surrounding a supplement containing red yeast rice ingredients.
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Mitsubishi Electric to supply radar parts to U.S. Navy ships
2024-07-24 20:30:00
Mitsubishi Electric has announced that it has signed a contract to supply radar parts for the U.S. Navy. The company is strengthening its defense business, and this is the first time it has delivered defense equipment to the U.S. military.
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Minimum wage to be raised by around 50 yen to the mid-1,050 yen range
2024-07-24 19:21:00
The Ministry of Health, Labor and Welfare's council held the final round of discussions on this year's minimum wage on the 24th, and discussions are still ongoing. The final adjustments are being made to raise the national average by about 50 yen, the largest increase ever, to the mid-1,050 yen hourly wage range.
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The yen temporarily rose to the low 154 yen range against the dollar.
2024-07-24 19:02:00
On the 24th in the Tokyo foreign exchange market, the yen temporarily rose to the low 154 yen range against the dollar as speculation emerged that the Bank of Japan may speed up the normalization of monetary policy.
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Chiba City and Mercedes-Benz Japan sign agreement to promote electric vehicles
2024-07-24 18:31:00
In an effort to realize a carbon-free society, Chiba City and the Japanese subsidiary of German car manufacturer Mercedes-Benz have signed an agreement to work together to promote the spread of electric vehicles, which do not emit carbon dioxide when driven.
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Former Big Motor ordered to take action for selling falsely claimed used cars with "no repair history"
2024-07-24 18:09:00
The former Big Motor, which was disciplined for making fraudulent insurance claims for car repairs, was found to have been selling used cars that had been damaged in accidents or other accidents by falsely listing them as having no repair history on used car information sites, and the Consumer Affairs Agency has issued a measure order ordering the company to take measures to prevent recurrence.
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Hokuriku Electric Power: "It will take at least two years to fully restore the facilities at the Shika Nuclear Power Plant"
2024-07-24 17:31:00
On the 24th, Hokuriku Electric Power Company predicted that it would take at least two years to fully restore the facilities at the Shika Nuclear Power Plant in Shika Town, Ishikawa Prefecture, which was damaged in the Noto Peninsula earthquake, including the destruction of transformers that receive electricity from outside.
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JR East aims to open Haneda Airport Access Line waterfront route in 2031
2024-07-24 16:57:00
Regarding JR East's new "Haneda Airport Access Line," which will connect Haneda Airport with central Tokyo and other areas via three routes, the company has set a goal of opening a route connecting the airport and Shin-Kiba Station in Tokyo's Koto Ward in fiscal 2031.
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Supermarket sales up for 16th straight month, reflecting higher agricultural prices
2024-07-24 16:39:00
Sales at major supermarkets nationwide in June totaled 1.348 trillion yen, up 4.7% from the same month last year when comparing existing stores, marking the 16th consecutive month of increase.
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Stock prices fall for six consecutive business days
2024-07-24 16:04:00
On the 24th, the Nikkei Stock Average fell, marking its sixth consecutive trading day of decline, against the backdrop of the yen's strengthening in the Tokyo stock market and foreign exchange market.
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Chiba Prefecture considers introducing a lodging tax of 150 yen per night to boost tourism
2024-07-24 14:12:00
A meeting was held in Chiba Prefecture to consider introducing an accommodation tax as a source of revenue for promoting tourism, and a proposal was put forward to collect 150 yen per person per night at all accommodation facilities in the prefecture.
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The yen temporarily rose to the 154 yen range per dollar.
2024-07-24 13:56:00
On the 24th, the Tokyo foreign exchange market saw a widespread trend of selling dollars and buying yen, with the yen temporarily rising to the 154 yen to the dollar range for the first time in about a month and a half. While there are speculations in the market that the Federal Reserve, the central bank of the United States, will soon lower interest rates, there is also the view that the Bank of Japan may speed up the normalization of monetary policy, and with awareness of the narrowing interest rate gap between Japan and the United States, there is a growing trend to buy yen.
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Minimum wage to be raised by around 50 yen to the mid-1,050 yen range
2024-07-24 11:06:00
The Ministry of Health, Labor and Welfare's advisory council held final discussions on this year's minimum wage on the 24th, and taking into account the continuing rise in prices, final adjustments are being made to raise the national average by about 50 yen, the largest increase ever, to the mid-1,050 yen hourly wage.
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Investment fund acquires battery manufacturer in an effort to restructure the industry
2024-07-24 10:12:00
The investment fund Advantage Partners has announced that it will acquire a storage battery manufacturer affiliated with Furukawa Electric Co., Ltd. After the procedure is completed, the plan is to merge the company with another storage battery manufacturer that it acquired three years ago, aiming for industry restructuring under the initiative of the fund.
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Minimum wage adjustments aimed at raising the minimum wage by about 50 yen; settlement expected today
2024-07-24 05:55:00
Regarding the minimum wage for this fiscal year, the Ministry of Health, Labor and Welfare's council is considering raising the national average by about 50 yen, taking into account the continuing rise in prices, and is finalizing the adjustments toward an hourly wage of around 1,050 yen. The council is expected to hold final discussions on the 24th and reach a decision.
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