Tag: Business
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Japan’s Asics to spin off popular Onitsuka Tiger sneaker business; shares rise
TOKYO, June 10 : Japan’s Asics on Wednesday said it will spin off its high-end Onitsuka Tiger business, a key driver behind four straight years of record profit thanks to a tourism boom and a surge in demand for its retro-inspired sports shoes. Under the plan, the nearly 80-year-old Onitsuka Tiger business wi
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Indonesian central bank says governor briefs foreign investors following surprise rate hike
JAKARTA, June 10 : Indonesia’s central bank has briefed investors from Europe, the United States and Asia following its surprise rate hike, senior deputy governor Destry Damayanti told Reuters on Wednesday.On Tuesday, Bank Indonesia raised interest rates by 25 basis points in a rare off-cycle move to 5.50 per
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BOJ set to raise key rate to 1.0% in June, 1.25% by year-end: Reuters poll
TOKYO, June 10 : The Bank of Japan will raise its key interest rate this month and again in the fourth quarter, taking borrowing costs to 1.25 per cent by year-end, as it grows more wary of inflation risks than downside hazards to the economy, a Reuters poll of economists showed.BOJ Governor Kazuo Ueda all…
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Japan’s Asics to spin off Onitsuka Tiger business
TOKYO, June 10 : Japan’s Asics Corp on Wednesday said it will spin off its high-end Onitsuka Tiger business, a key driver behind four straight years of record profit, in a bid to speed up decision-making and boost competitiveness.Asics shares were up 2.7 per cent in late morning trading in Tokyo, compared wit
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OpenAI weighs leasing Ohio data center with Nvidia backing, The Information reports
June 9 : OpenAI is in negotiations to lease a proposed 10-gigawatt data center campus on federal land in Ohio, in a deal that could include financial backing from Nvidia, The Information reported on Tuesday, citing two people with direct knowledge of the discussions.Reuters could not immediately verify the re
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Meta ties up with Ambani’s Reliance for AI data center in India
June 10 : Facebook-parent Meta said on Wednesday that it has tied up with Indian billionaire Mukesh Ambani’s Reliance Industries for an AI-enabled data center in India. Reliance will build a data center with 168 MW capacity in Jamnagar, Gujarat, which Meta will lease, with options to scale, according to the s
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Starbucks mulls options for Japan business, including stake sale, Bloomberg reports
June 9 : Starbucks is weighing options for its Japanese business, including a stake sale, Bloomberg News reported on Tuesday. A stake sale might be valued at ¥400 billion ($2.5 billion) to ¥500 billion, possibly attracting interest from other industry players and private equity firms, the report added, cit
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‘Iconic’ Australian BBQ chain goes out of business after almost 50 years
Barbecues Galore will close dozens of stores across the country with the loss of about 500 jobs.
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Japan wholesale inflation accelerates to fastest in 3 years as energy costs spike
TOKYO, June 10 : Japan’s wholesale inflation accelerated in May at the fastest pace in three years as price pressures from the Middle East war broadened, data showed on Wednesday, adding to the case for further interest rate hikes by the central bank.The Bank of Japan meets next week and is expected to delive
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Nintendo shares slump as games pipeline disappoints market
TOKYO, June 10 : Nintendo’s shares fell 7.5 per cent on Wednesday after the company’s Nintendo Direct presentation of forthcoming games lacked titles from top franchises such as “Super Mario”.The Kyoto-based company’s stock price has been hammered by concerns over a lack of high-profile games to build momentu
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