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Tesco has officially put the for sale signs on its loss-making Japanese business, abandoning an eight-year effort to break into the East Asian nation’s tough retail market and emphasising Chief Executive Philip Clarke’s commitment to investor returns. The decision by the UK’s biggest supermarket group and the third-largest retailer in the world comes as a [...]
(Read More)9th Aug 11
Japan current account surplus falls in June
by Natasha Redman
Japan’s current account surplus plunged more than anticipated in June as the country’s exports continued to suffer from the after effects of the natural disasters. The surplus in June was 526.9bn yen (£4.1bn), a fall of 50.2 per cent from a year earlier, revealed the latest data. However, figures highlighted that the export decline rate [...]
(Read More)29th Jul 11
Retail sales on the up in Japan
by Harry Oldfield
Japan’s retail sales figures have increased for the first time since the devastating earthquake and tsunami in March. The latest official data states that retail sales went up by 1.1 per cent in June compared with the previous year, suggesting that the economy is starting to recover. The increase comes after three months in succession [...]
(Read More)25th May 11
Sony woes continue as £2bn losses announced
by Harry Oldfield
Electronics giant Sony is expected to suffer full-year losses of 269bn yen (£2bn), the company’s second worst performance since it was created, after a tax charge made the group slash its forecasts. The losses are set to pile further pressure on its troubled chief executive Sir Howard Stringer during a year when Sony has suffered [...]
(Read More)17th May 11
Japan consumer confidence index falls further in April
by Katie Naylor
The mood of Japanese consumers deteriorated further last month, found a survey, as the fallout resulting from the devastating tsunami and earthquake continued to weigh down on sentiment. There was a fall of 33.1 in the consumer confidence index, down from March’s figure of 38.6, the Cabinet Office stated. If the reading is under 50, [...]
(Read More)25th Mar 11
Three Fukushima reactor workers sent to hospital
by Harry Oldfield
Three of the engineers working to save the Fukushima nuclear reactors have gone to hospital after being exposed to massive levels of radiation. Three of the workers from the Fukushima Dai-Ichi nuclear power plant were sent to hospital after they were exposed to radioactivity that hit levels 10,000 times that considered the safe limit. The [...]
(Read More)25th Mar 11
Earthquake hits Burma
by Harry Oldfield
An earthquake has struck Burma close to the borders of Thailand and Laos leaving more than 60 people dead, according to latest reports. The US Geological Survey said the quake had a magnitude of 6.8 and the epicentre was 70 miles to the north of Chiang Rai, a city in the north of Thailand. The [...]
(Read More)25th Mar 11
British Airways cancels Tripoli services
by Sally Davies
British Airways has announced that it will be suspending all services to Tripoli, Libya’s capital, because of the political unrest. BA said it would not be resuming services until after the summer at the earliest between Heathrow and Tripoli and that the carrier would continue to keep a close eye on developments within the country. [...]
(Read More)25th Mar 11
Fukushima workers hospitalised after radiation exposure
by Harry Oldfield
Three of the workers who have been battling to restore operations at the Fukushima Daiichi power plant in Japan have been hospitalised after coming into contact with contaminated water. The accident occurred after the workers failed to measure radioactivity levels before commencing work. Two of the men, who were not wearing protective boots, had to [...]
(Read More)24th Mar 11
Tokyo killer receives death sentence over stabbings
by Harry Oldfield
A Japanese man who confessed to murdering seven people by stabbing some and driving over others in Tokyo in 2008 has been sentenced to death. Tomohiro Kato had driven his car into pedestrians at a central shopping area. Three of them died. The 28-year-old then stabbed people walking by, killing four and injuring several others, [...]
(Read More)