Kazuo Hirai, CEO of Sony, says his company remains committed to consumer electronics.» Read More
Nikko Cordial, the Japanese unit of Citigroup, said it was not looking to sell its merchant banking unit, denying a report that it was in talks with Japan's Norinchukin Bank about a potential $3.4 billion deal.
Amid the headlines this weekend about Cerberus closing the Chrysler deal and shaking up management at the automaker, one piece of news came out that blew me away. In the second quarter, Toyota posted a record profit of $4.13 billion dollars. Sounds staggering by itself until you look at it this way: every day last quarter Toyota made more than 44 million dollars. Almost 2 million dollars a day!
Sharp said on Monday it filed a U.S. lawsuit accusing Samsung Electronics of infringing Sharp's LCD patents, the latest in a series of legal tussles among Asian technology companies.
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.