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November 22, 2024
 

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BANKS

The Singapore skyline
BUSINESS / Economy
Oct 6, 2023
The rich are flocking to Singapore as bankers stick with Hong Kong
From Singapore’s earliest years as an independent state, it has aimed to be one of the key locales through which the world’s money flows.
Four major Japanese banks have announced they will raise their 10-year fixed housing loan rates for the third consecutive month in October.
BUSINESS
Sep 30, 2023
Four major Japanese banks to raise housing loan rates in October
The hikes come as Japanese government bond yields rise after the Bank of Japan effectively raised its 10-year JGB yield cap to 1% from 0.5% in July.
MUFG Bank is aiming to foray into space by investing in startups.
BUSINESS / Companies
Sep 27, 2023
MUFG Bank among firms to lead $290 million Sierra Space fundraising
Sierra Space is among a handful of space industry players attempting to build a private space station.
Charles Wang Zhonghe, a senior banker at Nomura Holdings, has reportedly been barred from leaving China in a move connected to a long-running investigation of a top dealmaker in the country.
BUSINESS
Sep 25, 2023
Senior Nomura banker barred from leaving China, report says
The exit ban on the chair of investment banking for China at the bank's Hong Kong arm is linked to an investigation of a top dealmaker in the country.
Kioxia's Kitakami plant in Kitakami, Iwate Prefecture. Western Digital and Kioxia initially aimed to reach a decision on a merger in August, but discussions have dragged on as the companies tried to iron out details.
BUSINESS / Companies
Sep 20, 2023
Banks prepare ¥2 trillion funds for Kioxia-Western Digital merger
The moves towards a refinancing commitment would mark a step forward in the merger, which has faced months of delays.
Fuji TV quoted tech journalist Yo Mikami as saying there is a chance that the suspect opened one of the victim's eyelids so he could unlock the smartphone.
JAPAN / Crime & Legal
Sep 15, 2023
Two men arrested in Tokyo over alleged theft using Face ID
A 27-year-old Tunisian man allegedly used the victim’s smartphone to send ¥500,000 to the bank account of his 25-year-old friend.
Fumitaka Nakahama, Head of Mitsubishi UFJ Financial Group's global corporate and investment banking business, speaks in an interview in Tokyo on Sept. 7.
BUSINESS / Companies
Sep 13, 2023
MUFG battles private equity and startups to hire U.S. bankers
MUFG is plowing more resources into the American market in a bid to grow alongside established powerhouses.
Banks have surged more than 50% over the past year on speculation gains in prices and wages will become sustainable enough for the Bank of Japan to end years of rock bottom rates.
BUSINESS / Economy
Sep 12, 2023
Top fund managers pile into Japanese banks on BOJ tightening bets
Fund managers are piling into Japanese banks on the possibility the Bank of Japan is preparing to end its ultraeasy monetary policy.
Pedestrians in front of the Shinsei Bank headquarters in Tokyo in October 2021
BUSINESS / Companies
Sep 8, 2023
SBI Shinsei Bank to go private to repay public funds
By going private, SBI Shinsei Bank will free itself from the shackles of stock prices and be able to pay back the public funds "at some point."
The AI initiative is part of Morgan Stanley's strategy to drive its wealth division, where net revenue surged 16% to a record in the second quarter and new client assets grew $90 billion.
BUSINESS / Tech
Sep 8, 2023
Morgan Stanley to launch AI chatbot to woo wealthy
The bank will roll out a generative artificial intelligence bot this month, developed with the makers of ChatGPT, OpenAI
Mizuho Financial Group has been expanding its presence in the United States to tap the world’s biggest fee pool, becoming one of the four global investment banks leading Arm's IPO.
BUSINESS / Companies
Sep 8, 2023
Mizuho's SoftBank ties boost Wall Street ambitions via Arm IPO
The bank has been expanding its presence in the U.S. to tap the world’s biggest fee pool, even as deals slump globally following the pandemic.
The Financial Services Agency said in its annual policy guidance that overseas real estate is among the credit risks to watch this year and that it will assess major banks' "situation of loans” made in this sector.
BUSINESS
Aug 30, 2023
Japan regulator to evaluate banks’ commercial property exposure
Commercial real estate has become one of the highest-profile asset classes hit by rapid rate hikes.
The BOJ’s monetary easing has kept the benchmark yield on 10-year JGBs below 1% for over a decade, and most traders have never experienced a major surge in rates that would put them at risk of large writedowns.
BUSINESS
Aug 16, 2023
Traders who survived the 1980s become must-have hires in Japan
With the benchmark yield on 10-year JGBs below 1% for over a decade, most traders have never experienced a surge in rates that would put them at risk.
People walk along Shanghai's main shopping area on March 14. China's economic activity data has been missing forecasts, raising worries that the country is approaching a crunch point.
BUSINESS / Economy
Aug 16, 2023
As China's economy slows, economists ask how much worse it can get
The demise of the country's growth has been mistakenly forecast before. Is this time different?
Cirebon-1, an 11-year-old coal power station in West Java, Indonesia, is set to close early, sparing the planet millions of tons of carbon dioxide.
BUSINESS / Economy
Aug 16, 2023
Indonesian facility shows cutting coal is a hard sell for banks
The early closure of the Cirebon-1 coal plant could be a decarbonization model for Asia, but big banks have been shy about fueling the transition.
Florida's Gov. Ron DeSantis and Sen. Marco Rubio launch the 'Keep Florida Free' tour on primary night. In May, DeSantis signed a sweeping anti-ESG bill he says targets the "woke” bias of the finance industry.
BUSINESS / Economy
Aug 15, 2023
Even as the term is 'weaponized,' bankers still pay heed to ESG
About two-thirds of survey respondents said the anti-ESG movement will force firms to stop using those three letters in conversations with clients.
Both Mizuho Bank and Mizuho Securities USA are currently before the courts regarding discrimination lawsuits from former employees.
BUSINESS
Aug 9, 2023
Ex-Mizuho VP sues bank alleging bias against non-Japanese staff
According to the suit, much of the discrimination surfaced in response to a request for extended paternity leave.
Signage for Sumitomo Mitsui Banking (right) and Mizuho Bank (center) in Tokyo. Two of Japan's mega-banks reported solid quarterly profit on Monday.
BUSINESS
Jul 31, 2023
Japan’s biggest banks beat estimates, adding to BOJ tailwind
Sumitomo Mitsui Financial Group said net income for the quarter ending June 30 was ¥248 billion, while Mizuho Financial Group’s was ¥245.2 billion.
The towers of Canary Wharf, in London, occupied by several major international banks, seen from Greenwich Park in the city
BUSINESS
Jul 31, 2023
Banks voted to limit accounting of capital market emissions
The plan to keep carbon emissions linked to bond and stock sales out of banks' footprints came after wrangling over the issue delayed new standards.
Military personnel patrol a street outside a branch of Ukraine's Sense Bank in central Kyiv in June.
WORLD
Jul 30, 2023
Banks are untold story of Ukraine’s survival, even state banks
Oschadbank CEO says Ukrainian state should keep control of some banks after the war because they’ll be helpful if Russia attacks again
Two of America’s biggest debt holders are dumping Treasurys
The U.S. Treasury building in Washington. Investors in Japan and China sold a pile of U.S. debt in the last quarter, just before the U.S. presidential election.
Tokyo Metro’s overseas efforts begin in earnest with London deal
Tokyo Metro will soon have a role in the running of London's Elizabeth Line, a major train route serving the U.K.’s capital city and environs.
Russia fired experimental ballistic missile at Ukraine, Putin says
Ukrainian firefighters work on a spot following an airstrike in Dnipro on Thursday.
Ex-yokozuna Kitanofuji dies at 82
Yokozuna Kitanofuji enters the ring during the May 1970 grand sumo tournament in Tokyo.
Man charged with murder allegedly made victim date other men for money
A car carrying suspect Ryotaro Masuda, who was indicted for allegedly beating his 25-year-old girlfriend to death, leaves the Shibuya Police Station in Tokyo on Thursday.
The slow-burn success of ‘A Samurai in Time’
A 19th-century warrior gets struck by lightning and wakes to find himself in 21st-century Kyoto in Junichi Yasuda’s surprise hit “A Samurai in Time.”
Around a quarter of Japan married couples in their 20s met through dating apps
A survey released by an organization promoting “Good Couples Day” shows that 24% of couples in their 20s met their marriage partner through a dating app.
'Tokyo Swindlers': Get deep into the minds of real estate con artists
In Ko Shinjo's "Tokyo Swindlers," a group of con artists manipulates real estate giants into falsified deals within the highly competitive, quick market.
Japan, U.K. and Italy discuss inviting more countries to joint fighter project
A new concept model of a next-generation fighter jet to be jointly developed by Japan, Britain and Italy is on display in Farnborough, Hampshire, in July.
Haruki Murakami's 'The City and Its Uncertain Walls' gives deep deja vu
For “The City and Its Uncertain Walls,” translated into English by Philip Gabriel, Haruki Murakami confronts the ghosts who won't leave him alone.

Podcast

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

Longform

Construction takes place on the Takanawa Gateway Convention Center in Tokyo, slated to open in 2025.
A boom for business tourism in Japan?
By Kathryn Wortley

SUSTAINABLE JAPAN

mission sustainability vol.12 : Kose Corp.Kose takes pride in creating beauty in the world
mission sustainability vol.12 : Kose Corp.Kose takes pride in creating beauty in the world

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