European Central Bank cuts interest rates by another 0.25% for the third consecutive rate cut
2024-12-12 22:36:00
The European Central Bank held a monetary policy meeting on the 12th and decided to cut interest rates by an additional 0.25%.
Economic news(2024/12/12)
Seibu Holdings sells large complex on former Akapuri site to US investment fund
2024-12-12 19:36:00
Seibu Holdings has announced that it will sell a large complex on the site of the former Akasaka Prince Hotel in Tokyo's Chiyoda Ward to an American investment fund for approximately 400 billion yen.
Yen exchange rate falls
2024-12-12 18:18:00
On the 12th, the yen fell against the dollar on the Tokyo foreign exchange market.
Government power generation cost estimate: Nuclear power will fall below thermal power in 2040
2024-12-12 18:16:00
In preparation for the formulation of a new Basic Energy Plan, the government has released estimates of the overall power generation costs by energy source as of fiscal year 2040. Anticipating a rise in the price of liquefied natural gas (LNG), the cost of nuclear power is estimated to fall below the cost of LNG-fired power, which is currently the main source of power generation.
Suntory Holdings to promote founding family member Nobuhiro Torii to new president
2024-12-12 18:07:00
Suntory Holdings, a major beverage company, has announced that it has decided to promote Nobuhiro Torii, a member of the founding family, to vice president. This will be the first time in about 10 years that a member of the founding family has become president.
IT industry group calls for "strengthening security measures with passkeys"
2024-12-12 18:03:00
Amid a rise in phishing scams that trick people into entering their passwords to give away their personal information and money, an industry group made up of major American IT companies and Japanese companies has called on businesses to strengthen their security measures by introducing a "passkey" system that uses facial or fingerprint authentication.
Ministry of Agriculture, Forestry and Fisheries to make efforts to "take into account production and distribution costs" for food products
2024-12-12 18:01:00
As costs related to food production and distribution, such as fertilizer and fuel, rise, the Ministry of Agriculture, Forestry and Fisheries has decided to impose an obligation on producers and distributors to make efforts to conduct transactions that take costs into consideration, in order to encourage fair price transfer. As this may lead to higher food prices, attention is focused on whether consumers will accept this.
Nikkei average temporarily recovers to 40,000 yen range for the first time in about two months
2024-12-12 16:42:00
On the 12th, buy orders were placed for many stocks on the Tokyo Stock Exchange, and the Nikkei Stock Average temporarily recovered to the 40,000 yen range for the first time in about two months.
Survey of promising overseas destinations for Japanese companies: Number of companies choosing "China" as their target is at an all-time low
2024-12-12 16:17:00
In a survey asking Japanese companies about promising overseas destinations for future expansion, the percentage of companies that answered China dropped to 17%, the lowest since the survey began in 1992. This suggests that the business environment in China is becoming increasingly tough due to fierce competition with other companies and the economic slowdown.
The Japan Federation of Economic Organizations and the Japan Trade Union Confederation agree to continue working together next year to ensure wage increases
2024-12-12 13:39:00
Executives from the central labor union organization Rengo and the Japan Association of Corporate Executives met and agreed to continue to cooperate between labor and management next year in order to ensure the trend toward wage increases.
Nikkei average temporarily recovers to 40,000 yen range for the first time in about two months
2024-12-12 12:15:00
On December 12th, buying orders spread immediately after trading began on the Tokyo Stock Exchange, and the Nikkei Stock Average temporarily recovered to the 40,000 yen range for the first time in about two months.
Nikkei Stock Average temporarily recovers to the 40,000 yen range for the first time in about two months since October this year
2024-12-12 10:02:00
On the 12th, buying orders spread immediately after trading began on the Tokyo Stock Exchange, and the Nikkei Stock Average temporarily recovered to the 40,000 yen range. This was the first time during trading hours that it had risen to the 40,000 yen level in about two months since October of this year. Following a significant rise in the Nasdaq stock price index, which is dominated by tech-related stocks on the New York Stock Exchange on the 11th, buying orders are spreading in the Tokyo market, mainly for semiconductor-related stocks.
Nasdaq stock index hits 20,000 mark for first time; buying orders rise as interest rate cut prospects grow
2024-12-12 07:07:00
On the 11th, the New York Stock Exchange saw buying orders coming in mainly from major IT companies, and the Nasdaq stock index, which has many technology-related stocks, rose sharply, exceeding 20,000 for the first time.
Bank of Canada cuts policy interest rate by 0.5% in light of future uncertainty
2024-12-12 06:17:00
The Bank of Canada has decided to lower its policy interest rate by 0.5%, double the usual rate, due to the fact that economic growth has been slower than expected. This is the fifth consecutive rate cut, and the Bank of Canada has also taken into consideration the uncertainty surrounding the future, with US President-elect Trump indicating his intention to raise tariffs on imports from Canada.
Korean Air completes process to acquire Asiana Airlines
2024-12-12 05:48:00
South Korean media reported that South Korea's largest airline, Korean Air, completed the process of acquiring the country's second-largest airline, Asiana Airlines, on the 11th, saying that "a super-large airline will be born," raising attention about the impact this will have on the aviation industry.
Three funds pass first round of bids for Seven & i's intermediate holding company shares
2024-12-12 05:43:00
It has been revealed that three Japanese and American investment funds have passed the first round of bidding for the partial sale of shares in a company that will consolidate Seven & i Holdings' non-convenience store businesses. Seven & i plans to narrow down the candidates and decide on a final buyer by around spring 2025.
