Japan's already less-than-sterling credit rating took a hit from Fitch's downgrade, but its bonds and currency are set to stay impervious to the blow.» Read More
On a regular basis, I hear from bloggers who think I'm pushing Toyota and would like nothing more than to see the Big 3 implode. In fact, I got an e-mail to that effect yesterday after blogging about the possibility of Chevy and Ford being outsold by the Toyota brand. For the record, Toyota has passed Ford, but still trails Chevy by a slight margin.
Investors are sure to keep one eye on the debt markets and the other on the foreign exchange as a cycle of rising risk aversion in the U.S. spurs an unwinding of the Japanese yen carry trade, which in turn sucks money away from global stock markets.
The dollar dropped to a 3-month low Thursday, as investors spooked by growing problems in credit markets fled risky assets financed by borrowing in the low-yielding Japanese currency.
Sony said on Thursday its quarterly profit more than trebled after strong digital camera sales and a softer yen far outstripped losses at its game unit.
The dollar jumped broadly Wednesday in a technical rebound from record lows against the euro, shrugging off fresh signs of deterioration in the U.S. housing sector.
Nissan Motor, Japan's third-largest automaker, posted a 3.2% drop in quarterly operating profit as a worsening product mix favoring smaller, cheaper cars hit margins, and kept its full-year forecasts unchanged despite the weaker yen.
The dollar fell to a 15-year low against a basket of major currencies and a record low against the euro Tuesday, hurt by the potential for credit woes and housing market weakness to weigh on the U.S. economy.
The dollar edged higher against the euro Monday, recovering from a record low, as dealers awaited economic data later in the week to see if U.S. credit market turmoil has spread to other sectors.
What do Neil Young, Clark Gable, Andy Devine, Bruce Willis, Johnny Depp, Geena Davis and Jay Leno all have in common? The jacket on their back. The leather jacket. Benicio Del Toro owns 5 or 6. Those are the names of just some of the high profile folks that have worn or owned a Langlitz leather jacket.
The earthquake-induced shutdown of a nuclear plant in northwest Japan last week could cost operators Tokyo Electric Power some $1.65 billion, the Nikkei financial daily reports.
The dollar fell to a record low against the euro Friday and was on track for its sixth straight weekly decline, weighed down by fears that losses in risky mortgage debt would hurt consumers and slow U.S. growth.
The dollar traded near record lows versus the euro Thursday over renewed concern about the health of the U.S. housing market and as investors pondered the Federal Reserve's next interest rate move.
As a man who spent his teenage years tooling around in my parent's big Buick, I have to admit I have a soft spot in my heart for big sedans. Doesn't mean I want one now, but I do like the romantic appeal of a big ol' car. So when I heard Chrysler is scrapping plans to further develop its Imperial large sedan, it made me wonder: is the big car dead?
A Japanese nuclear power plant -- the world's biggest -- may be shut down for more than a year while a safety study is made after an earthquake caused radiation leaks and showed that the plant was built above an active fault.
Financier Yoshiaki Murakami, who shook up corporate Japan with demands for greater returns for shareholders, was jailed for two years on Thursday after being found guilty of insider trading.
At least four Japanese automakers including Toyota Motor said on Wednesday they would suspend production after an earthquake hit the factories of a major parts supplier.
The dollar slipped Wednesday after Federal Reserve Chairman Ben Bernanke said housing sector woes would likely get worse, touching the nerves of dealers still reeling from the subprime crisis.
A long list of problems, including radiation leaks, burst pipes and fire, have come to light at the world's largest nuclear power plant after it was hit by a powerful earthquake this week.
The dollar rose versus the yen for the first time in three sessions after a government report showed foreign investors bought a record amount of U.S. securities in May.
Two ends of the market-cap spectrum that came out as current favorites in our conversation with Bob Parker. The Credit Suisse Asset Management vice chairman suggested buying both was a sensible strategy. So don't choose one over the other, take both, was the message.