Economic news(2024/12/05)
Government and ruling party consider reviewing employed elderly pensions, imposing a certain tax burden on people with increased income
2024-12-05 23:30:00
In response to ongoing discussions to revise the "employed elderly pension system," which reduces the pensions of working elderly people with a certain income, it has been learned that the government and ruling parties are considering a proposal to set a cap on income tax deductions and require elderly people with increasing incomes to pay a certain tax burden.
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Government considering investment proposal through IPA in Rapidus, which aims to domestically produce cutting-edge semiconductors
2024-12-05 20:26:00
It has been learned that the government is considering investing in Rapidus, which aims to domestically produce cutting-edge semiconductors, through the independent administrative institution "IPA = Information-Technology Promotion Agency." By becoming a substantial shareholder, the government hopes to attract investment from the private sector.
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The Federation of Core Labor Unions presents a policy proposal for a 15,000 yen monthly wage increase in next year's spring offensive
2024-12-05 19:15:00
The "Kinkanroren," a union made up of steel, shipbuilding, and other labor unions, has proposed a policy of demanding a monthly base pay increase of 15,000 yen for next year's spring wage offensive. This is the highest demand to date, and is aimed at correcting disparities between companies and securing and retaining human resources.
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Yen rises slightly as Bank of Japan policy committee comments interpreted as approval of further interest rate hike
2024-12-05 18:25:00
On the Tokyo foreign exchange market on the 5th, comments made by a Bank of Japan policy committee member were interpreted by the market as a stance in which further interest rate hikes were tolerated, causing the yen to rise slightly.
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Financial Services Agency: Draft report on preventing recurrence of fraudulent insurance claims at non-life insurance companies
2024-12-05 16:40:00
In response to a series of problems in the non-life insurance industry, including fraudulent insurance claims, a working group of the Financial Services Agency has presented a draft report on how to prevent recurrence. Based on the finding that insurance companies have failed to properly manage their agents by prioritizing profits, the report calls for both sides to appoint a person in charge of compliance and to create the necessary qualifications.
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Bank of Japan's Nakamura: "Careful adjustments are now important for future monetary policy"
2024-12-05 16:39:00
On the 5th, Toyoaki Nakamura, a member of the Bank of Japan's monetary policy decision-making committee, gave a speech in Hiroshima City, saying, "It is important to carefully adjust future monetary policy." This shows a cautious stance amid speculation among market participants that the Bank of Japan may soon implement additional interest rate hikes.
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Daihatsu reports recall of over 190,000 vehicles of six models
2024-12-05 16:01:00
Daihatsu Motor Co., Ltd. has filed a recall with the Ministry of Land, Infrastructure, Transport and Tourism for six models and over 190,000 vehicles, citing a risk that springs that absorb vibrations of the vehicle body while driving may corrode and break, and in the worst case scenario, come into contact with the tires, causing a puncture and making the vehicle unable to be driven.
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Bitcoin price continues to rise, surpassing $100,000 for the first time
2024-12-05 15:06:00
On the 4th, the price of Bitcoin, one of the most popular cryptocurrencies, exceeded 100,000 dollars, or about 15 million yen, for the first time. Bitcoin prices continue to rise due to expectations that trading will become more active under the next Trump administration in the United States.
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[Commentary] Record number of foreign tourists: Can this be used to revitalize the economy?
2024-12-05 14:44:00
The number of foreign tourists visiting Japan is on the rise. The number of tourists in October hit a record high and is expected to be the highest ever for the year. The government has set a target of 15 trillion yen in spending by foreign tourists visiting Japan by 2030. However, some areas with high tourist numbers are facing various problems due to "overtourism"... Commentator Imura Takeshi provides a detailed explanation of the trends surrounding inbound tourism. *Information current as of December 5th. (Video: 7 minutes 27 seconds)
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LINE glitch: Approximately 130,000 people have their own images displayed in other people's thumbnails
2024-12-05 14:02:00
Following the malfunction of LINE's album function that occurred in November, LINE and Yahoo! announced that it is estimated that approximately 70,000 users in Japan, and approximately 135,000 users overseas, had their images displayed in other people's "thumbnails."
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Bank of Japan's Nakamura: "Careful adjustments are now important for future monetary policy"
2024-12-05 13:30:00
On the 5th, Toyoaki Nakamura, a member of the Bank of Japan's monetary policy decision-making committee, gave a speech in Hiroshima City, saying, "It is important to carefully adjust future monetary policy." This shows a cautious stance amid speculation among market participants that the Bank of Japan may soon implement additional interest rate hikes.
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LINE glitch: Approximately 70,000 people have their own images displayed in other people's thumbnails
2024-12-05 12:25:00
Following a glitch in LINE's album function that occurred last month, LINE and Yahoo! announced that it is estimated that approximately 70,000 users in Japan had their own images displayed in other people's "thumbnails."
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UA Zensen plans to seek the abolition of the 1.06 million yen annual income barrier
2024-12-05 12:24:00
UA Zensen, an industrial labor union with over 1.1 million members who work part-time or other short-term jobs, has announced its intention to call for the abolition of the wage requirement for joining the Employees' Pension Insurance, known as the "1.06 million yen annual income barrier."
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Stock prices rise due to the view that the US economy is strong
2024-12-05 12:00:00
On the 5th, the Tokyo stock market saw the Nikkei average rise due to the view that the US economy is doing well.
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The NY Dow closed above 45,000 dollars for the first time on expectations for the performance of major IT companies
2024-12-05 07:01:00
On the 4th, the New York Stock Exchange saw buying orders due to expectations for the performance of major IT companies, and the Dow Jones Industrial Average closed at over 45,000 dollars for the first time, setting a new record high.
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GM reports losses of over $5 billion related to its China operations
2024-12-05 06:11:00
General Motors, a major American automaker, has announced that it will record a loss of $5 billion, or more than 750 billion yen, in relation to its operations in China. The company has been suffering from continued losses due to intensifying competition with local electric vehicle manufacturers in China.
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Japanese companies increasingly enter the business of capturing carbon dioxide from the atmosphere
2024-12-05 04:41:00
As reducing greenhouse gas emissions becomes an issue, Japanese companies are increasingly entering the business of capturing carbon dioxide from the atmosphere.
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