Japan and the European Union agreed on a free trade pact on Thursday to create the world’s biggest open economic area and signal resistance to what they see as U.S. President Donald Trump’s protectionist turn.
Concluded in Brussels on the eve of meetings with Trump at a summit in Hamburg, the "political agreement" between two economies accounting for a third of global GDP is heavy with symbolism. The deal will rival the size of NAFTA, the free trade accord that the US has with Canada and Mexico – currently the largest one in the world.
Nomura picked Frankfurt as the headquarters for its European Union operations after the UK leaves the bloc, Bloomberg reported.
Japan’s biggest brokerage will start preparations this month to form a base in the German financial centre, one of the people said, asking not to be identified as the matter is confidential. The decision will necessitate regulatory approval along with securing the requisite office space before transferring fewer than 100 employees from London to the city, according to the person.
Japanese transportation service group Yamato said Tuesday it will pay about 47,000 employees 19 billion yen ($175 million) in unpaid overtime for the past two years.
The delivery company admitted that many of its drivers had to work long hours, including overtime without pay, a chronic situation due to a surge in parcel delivery demand in line with rapid growth in the e-commerce industry.
Toshiba on Tuesday warned its survival was at risk as the struggling Japanese industrial giant reported a loss of $4.8 billion in long-overdue financial results.
The company, a colossus of corporate Japan with 188,000 employees globally, had been threatened with expulsion from the Tokyo Stock Exchange unless it met the extended deadline of Tuesday to file its accounts.
On April 1, a new law went into effect in Japan allowing for the country’s first officially recognized bitcoin exchange. The creation of a bitcoin exchange has been a long time coming in Japan.
The law was originally drafted in May of 2016 and amended Japan’s Payment Services Act (PSA) in four ways. First, the law officially recognizes and defines virtual currencies. Second, it allows the official registration of virtual currency exchanges. Third, it requires that virtual currency exchanges submit certain disclosures and undergo periodic audits. And finally, it forces virtual currency exchanges to submit to regulatory supervision by requiring them to maintain books and records, file audit reports, and submit to on-site examinations among others.
Panasonic Corporation President Kazuhiro Tsuga has instructed his employees in Japan to limit their overtime work to 80 hours or less per month, on January 31 with the instruction, which was effective from that day.
Company officials said the directive is aimed at reminding staff that they should concentrate on efficiency rather than working long hours.
Apart from the call to leave work by 8 p.m., the directive also recommends limiting overtime to a maximum of 80 hours a month for all staff, including managers, department heads and division chiefs.
Even though the European single currency edged higher against the Japanese Yen on Wednesday, it was unable to maintain trade above the 122.00 mark, with the resistance cluster there pushing the exchange rate down again. As a result, this cluster caused the EUR/JPY cross to make a U-turn and begin moving towards the 121.20 psychological support. Technical indicators, however, are unable to confirm the possibility of the negative outcome, as they keep giving bullish signals. In this case the 121.60 handle should be considered as a possible support, as it kept the Euro from sliding down for a whole week now, suggesting trade could close above this area.
After experienced some high volatility, the US Dollar suffered another leg down on Wednesday, but managed to remain above the immediate support, namely the weekly S1. Moreover, Donald Trump said nothing to support USD bulls yesterday, causing bears to take over. This USD/JPY weakness is likely to persist today, with the immediate support area around 115.00, namely the weekly S1 and the Bollinger band, being incapable of limiting the losses. Instead, attention should be paid to the second demand cluster, located at 113.50 and formed by the weekly S2 and the monthly S1.
For qualified investors / professional clients only
In order to proceed, you must confirm that you are a qualified investor based in Switzerland
The information contained in this section have been compiled or arrived at based upon information obtained from sources believed to be reliable and in good faith, but is not guaranteed as being accurate, nor is it a complete statement or summary of the securities, markets or developments referred to in the document.
Before investing in a product please read the latest prospectus carefully and thoroughly and note that funds mentioned herein may not be eligible for sale in all jurisdictions or to certain categories of investors The information mentioned herein is not intended to be construed as a solicitation or an offer to buy or sell any securities or related financial instruments. Past performance is not a reliable indicator of future results. The performance shown does not take account of any commissions and costs charged when subscribing to and redeeming units. Commissions and costs have a negative impact on performance. If the currency of a financial product or financial service is different from your reference currency, the return can increase or decrease as a result of currency fluctuations. This information pays no regard to the specific or future investment objectives, financial or tax situation or particular needs of any specific recipient. The details and opinions contained in this document are provided without any guarantee or warranty and are for the recipient's personal use and information purposes only
