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Money Matters »

[17 Dec 2016 | No Comment | ]

Japan surpassed China in October as the largest foreign owner of U.S. Treasury securities, the first time the countries have swapped places in nearly two years. Total foreign holdings fell for a fourth month.
The Treasury Department says that total foreign holdings dropped 1.9 percent to $6.04 trillion in October. Foreign holdings of Treasury debt are down 3.9 percent from a recent peak of $6.28 billion set in March.
Both Japan and China cut their portfolios in October. But China’s reduction was a larger 3.6 percent to $1.12 trillion. Japan trimmed its …

Money Matters »

[7 Dec 2016 | No Comment | ]

Japanese telecoms and internet firm SoftBank Group Corp plans to invest $50 billion in the United States in businesses and create 50,000 new jobs, U.S. President-elect Donald Trump said on Tuesday.
The money would come from a $100 billion investment fund that SoftBank Chief Executive Masayoshi Son is setting up with Saudi Arabia’s sovereign-wealth fund and other potential partners, according to the Wall Street Journal.
Trump made the announcement in the lobby of Trump Tower in Manhattan where he met with the head of SoftBank, a diverse company that holds stakes in …

Business News & Advice »

[2 Dec 2016 | No Comment | ]

Air conditioning company Carrier Corp said Tuesday that it had reached a deal with President-elect Donald Trump to keep nearly 1,000 jobs in Indiana. Trump and Vice President-elect Mike Pence planned to travel to the state Thursday to unveil the agreement alongside company officials.
Trump confirmed the meeting on Twitter late Tuesday, promising a “Great deal for workers!”
Trump spent much of his campaign pledging to keep companies like Carrier from moving jobs overseas. His focus on manufacturing jobs contributed to his unexpected appeal with working-class voters in states like Michigan, which …

Business News & Advice »

[1 Dec 2016 | No Comment | ]

Universal Parks & Resorts and Nintendo are joining forces to add video game characters to the theme park company’s resorts.
Company officials said Tuesday that Nintendo-themed areas will be added to Universal parks in Orlando, Los Angeles and Osaka, Japan.
Few other details were given, including when they would open and the types of experience that would be offered.
A Universal spokesman didn’t respond to an email seeking further details.
A news release says the Nintendo areas will include attractions, restaurants and shops.
The areas will open separately at the parks over the next several …

Business News & Advice »

[28 Nov 2016 | No Comment | ]

Holiday shoppers eager to snag big discounts turned to the internet in record fashion this week, one tracking company said, driving online sales on Black Friday to a new high.
Consumers spent $3.34 billion shopping online on Friday, a 21.6 percent increase from the same day last year, according to Adobe, which tracks online retail transactions.
More than ever before, shoppers used their mobile devices to dial up deals online, the firm said, as mobile purchases surged 33 percent on Black Friday to $1.2 billion.
Retailers also racked up online sales on Thanksgiving …

Career News & Advice »

[20 Nov 2016 | No Comment | ]

Ford Motor Co, one of Donald Trump’s prime corporate targets on the campaign trail, has offered the President-elect a chance to claim a victory by informing him it would not shift production of a Lincoln sport utility vehicle to Mexico from Kentucky.
Trump jumped at the chance, claiming in a tweet that he had “worked hard” with Ford Executive Chairman Bill Ford Jr to keep the plant in Kentucky, even though Ford had never considered moving the whole factory south of the border.
In letting Trump claim a victory, Ford made what …

Business News & Advice »

[10 Nov 2016 | No Comment | ]

Shifting demand from cars to trucks and SUVS is forcing General Motors to lay off more than 2,000 workers indefinitely at two assembly plants in Ohio and Michigan starting in January.
The company said Wednesday it will suspend the third shifts at factories in Lordstown, Ohio, and in Lansing, Michigan, because of the market change, which is growing and shows no sign of abating.
About 1,250 workers will be furloughed at the Lordstown plant, which makes the Chevrolet Cruze compact car, starting Jan. 23. Another 840 will be idled at the Lansing …

Headline »

[9 Nov 2016 | No Comment | ]

Donald Trump claimed his place Wednesday as America’s 45th president, an astonishing victory for the celebrity businessman and political novice who capitalized on voters’ economic anxieties, took advantage of racial tensions and overcame a string of sexual assault allegations on his way to the White House.
His triumph over Hillary Clinton, not declared until well after midnight, will end eight years of Democratic dominance of the White House and threatens to undo major achievements of President Barack Obama. Trump has pledged to act quickly to repeal Obama’s landmark health care law, …

Headline »

[27 Oct 2016 | No Comment | ]

Paul Beatty became the first U.S. author to win the Man Booker Prize—the world’s most prestigious English-language literary award—for his novel “The Sellout” on Tuesday.
The jury said the novel was a “shocking and unexpectedly funny” portrayal of his native Los Angeles, which employs satire to explore racial equality in a fictional neighbourhood.
“I can’t tell you guys how long a journey this has been for me,” the writer, overwhelmed with emotion, said as he received the award from Prince Charles’s wife Camilla.
“In his equally affectionate and bitterly ironic portrait of the …

Headline »

[20 Oct 2016 | No Comment | ]

Tokyo and Kyoto have been picked as the world’s best and second best cities outside the United States, the U.S. travel magazine Conde Nast Traveler said Tuesday.
Magazine readers cast more than 100,000 votes for their favorite cities in the 2016 poll, according to the website of the magazine, and Japan’s current and ancient capitals climbed the ranking from 15th and ninth the previous year, according to the Japan National Tourism Organization.
Italy’s Florence ranked third in the poll.
The magazine highlighted Tokyo’s variety encompassing modern skyscrapers, historic temples and shrines, adding it …