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Google fined $1.7 billion for blocking rival online search advertisers, in third EU sanction

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Google was fined €1.49 billion ($1.7 billion) for blocking rival online search advertisers, in the third large European Union antitrust penalty for the Alphabet business in two only years. The European Commission, which said the fine accounted for 1.29 percent of Google’s turnover in 2018, said in a statement that the anti-competitive practices had lasted a decade. “Google has cemented ... Read More »

Japanese Man Arrested At Ecuador Airport For Smuggling Insects

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Ecuadorean authorities say they have arrested a Japanese man for attempting to illegally traffic wildlife out of the country as he tried to board his flight out of Quito with over 250 specimens spiders and insects, both living and preserved. Allegedly a scientist, Hirokazu S. told authorities at the Quito airport where his stash of specimens was detected in a ... Read More »

Tokyo stocks end slightly lower

A pedestrian holding an umbrella walks past a stock quotation board outside a brokerage in Tokyo, Japan, June 13, 2016. REUTERS/Issei Kato

Stocks closed marginally lower on the Tokyo Stock Exchange on Thursday, after erasing healthy early gains under the pressure of profit-taking. The 225-issue Nikkei average lost 3.22 points, or 0.02 percent, to end at 21,287.02. On Wednesday, the key market gauge shed 213.45 points. The Topix index of all first-section issues finished down 3.78 points, or 0.24 percent, at 1,588.29, ... Read More »

Japanese banks to stop using a piece of 1800s tech

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IT HAS TAKEN more than a century, but Japanese banks are finally parting ways with a piece of technology that hasn’t felt cutting edge since the shogun reigned. Hanko, the personal stamps required for even simple transactions in Japan since the 1800s, are getting phased out at some of the country’s biggest financial institutions. Lenders have begun allowing customers to ... Read More »

Japan to launch Africa investment body to counter China and West

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TOKYO — Japan will set up a permanent joint council between the government and private sectors to promote investment in Africa as it seeks to play catch-up with China, the U.S. and Europe in the increasingly promising region, government sources said on Thursday. The launch of the joint council will coincide with the Seventh Tokyo International Conference on African Development, ... Read More »

Japan’s jobless rate rises to 2.5% in January

FILE PHOTO - People cross a street in a business district in central Tokyo, Japan, December 8, 2015. REUTERS/Thomas Peter/File Photo   GLOBAL BUSINESS WEEK AHEAD

Japan’s unemployment rate edged up 0.1 percentage point from the previous month to 2.5 percent in January, reflecting a rising number of women quitting their jobs for better positions amid the tightest labor market in decades, government data showed Friday. The jobless rate marked the first rise in two months, though it stayed around its lowest level in 26 years, ... Read More »

Qatar, China, Japan sought ‘extras’ after Barclays 2008 fundraising – court

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Qatari, Chinese and Japanese investors all sought “extras” from Barclays as the British bank raised billions of pounds at the height of the credit crisis in 2008, a landmark London criminal trial heard on Wednesday. Glenn Leighton, a former Barclays director and a witness for the Serious Fraud Office (SFO) prosecutor, told Southwark Crown Court that these agreements with Qatar, ... Read More »

Japan PM Abe’s adviser says BOJ can shelve its price goal

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TOKYO: The Bank of Japan can abandon its 2 percent inflation target or suspend efforts to achieve it once the job market is tight enough because the public is better off having prices fall, not rise, an economic adviser to Prime Minister Shinzo Abe said. While inflation is stuck near 1 percent, the BOJ’s ultra-loose monetary policy is going well ... Read More »

Japan’s exports fall most in 2 years as China-bound shipments weaken

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TOKYO: Japan’s exports posted their biggest decline in more than two years as China-bound shipments tumbled, fueling concerns about slowing global demand as the business mood sours and orders for the country’s machinery goods fell sharply. Finance Ministry data out on Wednesday showed Japan’s exports fell 8.4 percent year-on-year in January, a bigger decline than the 5.5 percent fall expected ... Read More »

Japan January exports seen falling most in two years on Sino-US trade row

FILE PHOTO: A worker walks between shipping containers at a port in Tokyo, Japan March 22, 2017. REUTERS/Issei Kato/File Photo

Japan’s exports in January are forecast to have fallen at the fastest pace in more than two years as the U.S.-Sino trade war put the brakes on demand for Japanese electronics, car parts, and heavy equipment. Core machinery orders, a volatile data series seen as a leading indicator of capital expenditure, are expected to have fallen in December for the ... Read More »

2 men arrested over record gold smuggling haul in Japan

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Japanese police arrested on Wednesday two Israeli men living in Tokyo for attempting to smuggle 220 kilograms of gold bullion in 2017 — the largest haul seized in the country. They were also held for alleged violation of Japan’s customs law. It is claimed they successfully smuggled, by air, a further amount of about 200 kg of gold — worth ... Read More »

Asian Shares Mostly Higher on US-China Trade Deal Optimism

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TOKYO (AP) — Asian shares were mostly higher Wednesday, cheered by prospects for a resolution to the costly trade dispute between the U.S. and China, which had also sent Wall Street indexes higher. Japan’s benchmark Nikkei 225 added 1.5 percent to 21,185.59 in morning trading, while Australia’s S&P/ASX 200 slipped 0.3 percent to 6,062.80. South Korea’s Kospi edged up 0.3 ... Read More »

Japan seeking big concessions from Britain in trade talks

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Japan is seeking tougher concessions from Britain in trade talks than it secured from the EU, while negotiations between London and Tokyo are also being slowed by the looming risk of no-deal Brexit. Japanese trade negotiators are confident they can extract better terms, the Financial Times reported, in a sign of the mounting difficulties facing UK officials as they attempt ... Read More »

Japan’s EU deal ‘threatens post-Brexit UK industry’

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Experts have warned that a new EU-Japan trade deal could pose a post-Brexit threat to British industry in the wake of Nissan’s decision to backtrack on expanding its Sunderland plant. The world’s biggest free trade deal came into force on 1 February and there are fears that Japan will stop using the UK as a manufacturing base, especially with a ... Read More »

Japan insurers to target China M&A in new phase after £38.26 billion overseas push

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HONG KONG/TOKYO: Japanese insurance companies have spent more than $50 billion (38.26 billion pounds) on acquisitions over the past five years to become the world’s second-largest buyer of insurance assets, and the deals spree won’t be slowing down any time soon. The cashed-up insurers are expected to step up their hunt in new markets, with Asia, mainly China, at the ... Read More »

Japan cuts view of exports as US-China trade war hurts trade

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Japan has cut its assessment of exports in January for the first time in three months due to the trade war between the United States and China in a warning that the fallout is spreading to the world’s third-largest economy. The Cabinet Office, which helps coordinate government policy, said exports have weakened recently in its monthly economic report for January. ... Read More »

Two Israelis Arrested In Japan For Gold Smuggling

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Two Israeli citizens were arrested in Japan by local police on suspicion of smuggling gold bars into the country, under the guise of importing automobile parts, Ynet News reported. A total of 420 kilograms of gold bars were seized by police in two different smuggling raids, according to local media. The gold was worth about $17.3 million total. The two ... Read More »

Japan’s Nov current account surplus falls 43% on higher oil imports

A laborer works in a container area at a port in Tokyo, Japan July 19, 2017. Picture taken July 19, 2017. REUTERS/Toru Hanai

TOKYO: Japan posted a 43.5 percent drop in the current account surplus from a year earlier in November as goods trade fell into the red on higher oil imports that cut growth in exports, government data showed. The current account, one of the widest gauges of international trade, was at 757.2 billion yen ($7 billion), coming below the 1 trillion ... Read More »

Japan Rebounds, Asia Jumps on US Data as Trade Talks Begin

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SINGAPORE: Asian markets were broadly higher on Monday after strong U.S. jobs data lifted indexes on Wall Street. All eyes are on trade talks in Beijing, where American and Chinese officials are trying to resolve a trade dispute that threatens to worsen an economic slowdown and put a drag on the global economy. KEEPING SCORE: Japan’s benchmark, bouncing back from ... Read More »

Arrest after Japanese tourist lured with travel freebies into smuggling meth

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An Iranian man has been arrested after using travel freebies to lure an unsuspecting Japanese tourist into smuggling a bag of clothes laced with crystal meth, Thai police. The tourist, whose name has not been disclosed, found the deal on a travel website that offered free getaways to Thailand, Shanghai and Frankfurt, complete with thousands in spending money. But after ... Read More »