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December 22, 2024
 

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BANKS

Barclays has been a top target for British climate protestors in recent years because of the volume of its lending to the fossil-fuel industry.
BUSINESS / Companies
Dec 19, 2024
Why Barclays is one of the main targets of U.K. climate activists
Barclays has provided more bonds and loans to fossil fuel companies than any European rival over the past three years.
MUFG Bank CEO Junichi Hanzawa (left) and other senior officials bow in apology at a news conference in Tokyo's Chiyoda Ward on Monday.
JAPAN / Crime & Legal
Dec 16, 2024
MUFG Bank apologizes for theft of ¥1 billion in valuables from deposit boxes
The manager accused of the thefts allegedly used backup keys to access the boxes.
Customers queue at a bank ATM in Lagos. Roughly 93% of total currency in circulation sits outside of banks.
BUSINESS / Tech
Dec 16, 2024
Nigeria’s dying ATMs leave a cash-shaped hole filled by agents
Roughly 93% of total currency in circulation — or 4 trillion naira ($2.6 billion) — sits outside of banks as of September.
Mitsubishi UFJ, Mizuho and Sumitomo Mitsui are enjoying record earnings and they are determined to fund overseas expansion.
BUSINESS / Companies
Dec 10, 2024
Japan's megabanks are flush with cash and hunting overseas deals
The primary focus is on the U.S. and India, respectively the world’s largest economy and the fastest-growing.
Masato Kanda, former vice finance minister for international affairs, will start his role as Asian Development Bank's president in February.
BUSINESS / Economy
Dec 6, 2024
Incoming ADB chief Kanda keeping eye on U.S. policy as Trump return looms
Any changes in tariffs, taxes and immigration restrictions in the U.S. could have a major impact on Japan and other Asian economies, he notes.
PayPay Bank is competing for funds as rates rise.
BUSINESS / Companies
Dec 5, 2024
PayPay Bank paying big to attract deposits, with offer of 2% on dollars and yen
The offer is many times the rates advertised by competing banks and applies to yen deposits of up to ¥5 million, with no limit for dollar deposits.
Rakuten Group is targeting the sale of as much as $550 million of subordinated notes with price talk for the deal at around 8.375%.
BUSINESS / Companies
Dec 4, 2024
Rakuten targets its lowest-cost junk bond sale since 2021
The e-commerce giant is targeting the sale of as much as $550 million of subordinated notes that can be called after five years.
Resona's loan balance for SMEs was up 4.9% by the end of September from a year earlier, compared with just 1.1% growth in the 12 months through September 2023.
BUSINESS / Companies
Dec 2, 2024
Resona says inflation is boosting SME loan demand and pay hikes
SMEs make up the bulk of Resona's client base, giving the bank insight into the state of firms that account for most of the employment in Japan.
Rakuten Group is considering the sale of hybrid perpetual notes that can be called after five years.
BUSINESS / Companies
Dec 2, 2024
Rakuten plans return to dollar bond market with hybrid notes
Rakuten’s liquidity has improved but an increased reliance on the dollar bond market may indicate weakened domestic funding access.
Mitsubishi UFJ Financial Group took a 15% stake in WealthNavi earlier this year.
BUSINESS / Companies
Nov 29, 2024
MUFG considering bid for Japanese robo-adviser WealthNavi
MUFG took a 15% stake in WealthNavi earlier this year
The Adani Group headquarters in Ahmedabad, India
BUSINESS / Companies
Nov 29, 2024
Japanese banks stick with Adani as Jefferies and Barclays review ties
Gautam Adani and others have been charged with plotting a $250 million scheme to bribe India government officials to win solar energy contracts.
The U.S. federal prosecutors' indictment of Indian billionaire Gautam Adani over an alleged bribery plot last week has sent ripples across the globe.
BUSINESS / Companies
Nov 26, 2024
Japan’s SBI follows Nomura in disclosing Adani funds exposure
The moves underscore how U.S. federal prosecutors’ indictment of Indian billionaire Gautam Adani over an alleged bribery plot has sent ripples across the globe.
Hong Kong's main financial district in October 2023. U.S. lawmakers say the city "has shifted from a trusted global financial center to a critical player in the deepening authoritarian axis” of China, Iran, Russia and North Korea.
ASIA PACIFIC / Crime & Legal
Nov 26, 2024
Hong Kong a ‘global leader’ in financial crime, U.S. lawmakers say
The city's shift from a trusted global financial center raises questions on whether longstanding U.S. policy toward it is appropriate, they say.
Itochu has tapped Daiwa Securities Group and the founding Ito family has hired SMBC Nikko Securities as financial advisers for their ¥9 trillion ($58.4 billion) proposal to take Seven & I Holdings private, people with knowledge of the matter have said.
BUSINESS / Companies
Nov 25, 2024
Nomura, Daiwa and other advisers win coveted Seven & I buyout roles
The multitude of financial advisers reflects the complexity of any potential buyout, as well as the lucrative fees if consummated.
Mitsubishi UFJ Financial Group is investigating the incident and consulting with the police.
JAPAN / Crime & Legal
Nov 22, 2024
MUFG fires worker over ¥2 billion theft from clients’ safe deposit boxes
The theft by a front-line employee responsible for managing the safe deposit boxes took place at two branches in Tokyo over 4½ years.
People walk near the entrance of the venue of the United Nations climate change conference COP29, in Baku, Azerbaijan, on Monday.
BUSINESS / Economy
Nov 20, 2024
Development banks seek private money for climate change fight
Development banks committed to increasing their lending to poorer countries to $120 billion a year by 2030.
Kazuto Oku in Tokyo on Tuesday
BUSINESS / Economy
Nov 19, 2024
Norinchukin loss to exceed $9.7 billion as bank dumps foreign bonds
Traders and investors are closely watching how Norinchukin plans to reallocate its $304 billion investment portfolio.
Japan’s megabanks have resumed trading activities with Nomura Holdings, people with knowledge of the matter said.
BUSINESS / Companies
Nov 18, 2024
Nomura's trading clients return after market manipulation probe
Many of the firms returned to Nomura after the brokerage explained measures it is taking to prevent a recurrence of the breach, sources said.
Mizuho Financial CEO Masahiro Kihara during a news conference in Tokyo on Nov. 14
BUSINESS / Companies
Nov 14, 2024
Japan’s biggest banks raise profit goals, unveil buybacks
Mitsubishi UFJ Financial Group, Sumitomo Mitsui Financial Group and Mizuho Financial Group now project a combined ¥3.7 trillion ($24 billion) in profit this fiscal year.
Asian banks are shifting focus from trade financing to wealth management and capital markets to offset potential losses from U.S. tariffs and capitalize on growing regional and global wealth.
COMMENTARY / World
Nov 13, 2024
The wealthy will shield Asian banks from Trump tariffs
Asian banks are shifting focus from trade financing to wealth management and capital markets to offset potential losses from U.S. tariff.
Nippon Steel alleges undue White House influence on doomed deal review
U.S. President Joe Biden delivers remarks on the economy at the Brookings Institution in Washington on Dec. 10.
Record 78% of people in Japan feel anxious, government survey finds
The public opinion survey on people's lives, conducted by the Cabinet Office, found that 28.1% of respondents think that their standard of living is at a lower-middle level among the general public — the highest percentage to give that response in 35 years.
Police raided suspect's home to arrest him after fatal Kitakyushu stabbing
Broken window glass is seen at Masanori Hirabaru's house in Kitakyushu's Kokuraminami Ward.
Taiwan lawmakers brawl over bills that would 'damage democracy'
Lawmakers from the Democratic Progressive Party and opposition party Kuomintang brawl in parliament in Taipei on Friday.
Mother hopes for reunion with daughter ensnared by Tokyo host clubs
The Kabukicho district in Tokyo, where the daughter of a woman in her 60s fell deeply into the host club culture.
Japanese officials inspect Yokota Air Base over PFAS concerns
The Yokota Air Base in western Tokyo in September 2019. An inspection of the base by Japanese government officials on Friday came amid public pressure to investigate suspected links between the use of PFAS-containing firefighting foam by the U.S. base and contamination of soil and groundwater in western Tokyo.
Crime numbers rise in Japan for second straight year
A police officer stands in front of the residence of a man alleged to have stabbed two junior high school students in Kitakyushu.
A year of Oscar wins and a quiet push for diversity
Ryusuke Hamaguchi’s “Evil Does Not Exist,” released in Japanese theaters in April, sharply dramatizes the clash between rural and urban values. The film won five awards at the 2023 Venice Film Festival, including the second-place Silver Lion prize.
Curiosity didn’t kill the meme: Why cats still rule Japanese YouTube
A screen shot from YouTube user @lagelda shows the simplicity of going viral in Japan in 2024: A cat dancing to EDM in front of a green screen.
With rare Asia carrier deployment, France seeks greater interoperability
The flight deck of the French Navy's Charles de Gaulle aircraft carrier during a stop at Changi Naval Base in Singapore in May 2019

Podcast

One of the many entrances to the Kabukicho neighborhood in Tokyo’s Shinjuku Ward.
Kabukicho: Tokyo’s ‘stadium of desire’

Longform

Yasuyuki Yoshida stirs a brew in a fermentation tank at his brewery in Hakusan.
The quake that shook Noto's sake brewing tradition
By Alex K.T. Martin

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