Economy News

Japanese stock

BOJ’s Kuroda Warns of Continued Pain on Economy from COVID-19

The Japanese economy has started to pick up steam. However, any recovery would likely be modest. This is due to lingering pain on the economy from the coronavirus pandemic, Bank of Japan Governor Haruhiko Kuroda warned on Thursday. The world’s third-largest economy is suffering from a resurgence in COVID-19 infections. Record cases were reported in …

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Toshiba

Toshiba CEO Resigns, Company Shares Surge

Toshiba Corp CEO Nobuaki Kurumatani stepped down on Wednesday amid controversy over a $20 billion buyout bid from CVC Capital Partners. The conglomerate’s shares surged on reports that KKR & Co and Brookfield were also planning offers. Kurumatani received criticism for the bid from CVC, his former employer, as well as allegations. The management allegedly …

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BOJ

BOJ’s Kuroda says Weak Yen Promises to Benefit Japan

Bank of Japan Governor Haruhiko Kuroda on Tuesday explained the benefits of a weak yen. A weak Japanese currency, he said, helped manufacturers by inflating the value of profits earned overseas. Many manufacturers in Japan now produce goods they sell overseas locally. According to Kuroda, this means a weak yen may not increase export volumes …

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Economy

HSBC Agrees to Share files for Huawei’s Meng Wanzhou

HSBC Holdings has agreed to share documents with lawyers for Huawei Technologies executive Meng Wanzhou. This was after the bank previously beat back demand for documents in U.K. court. Meng has been under house arrest in Canada since being detained at Vancouver airport in December 2018 on a U.S. warrant. She has faced charges of …

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