Tag Archives: Japan

‘Strong Dollar’ Is Lie Told in New Currency War

English: President Barack Obama meets with U.S...

English: President Barack Obama meets with U.S. Treasury Secretary Timothy Geithner aboard Air Force One March 31, 2009, on their way to attend the G-20 Summit in London. Français : Dans son bureau à bord d’Air Force One, le président Barack Obama discute avec le secrétaire au Trésor Timothy Geithner le 31 mars 2009 en route pour assister au sommet du G20 à Londres. Sur les fauteuils, les blousons présidentiels “Air Force One” et accroché à coté du hublot le Sceau du Président des États-Unis.
(Photo credit: Wikipedia)

By William Pesek – Jack Lew’s first act once he becomes U.S. Treasury secretary will be to tell a lie.

On Day One as Timothy Geithner’s successor, Lew is bound to say “I support a strong dollar” to reassure markets that there will be no change in long-standing U.S. policy. Nothing could be further from the truth, though, as the yen trades at 2 1/2-year lows and the world considers a response to Japan’s blitz on money markets. more> http://tinyurl.com/adzqpno


ECB saves euro, lets economy hang

By James Saft – Mario Draghi has saved the euro, for the time being, but seems less inclined to help the economies in which it is used.

With central banks in the U.S. and Japan easing aggressively, that leaves the euro liable to continue its recent gains, making countries in the currency area less able to export their way out of their problems. more> http://tinyurl.com/ctlelwz

The yen gets it in the end

By James Saft – What happens when an over-valued currency meets a political leader seemingly bent on imposing his vision on a battered central bank?

Watch Japan, soon-to-be Prime Minister Shinzo Abe and the yen in 2013 to find out.

Bold macroeconomic planning this all may well be, and no one can argue that the BOJ, which gained independence to set policy in 1998, has covered itself in glory, but the implication is that Japan in 2013 will be an interesting and potentially explosive experiment in how to approach the issues of debt, demographics and deflation which trouble not just Japan but large swaths of the rest of the world. more> http://tinyurl.com/bccczdf

Japan’s Softbank offers to buy 70 percent of US operator Sprint for $20 billion

Dan Hesse, President & CEO Sprint Nextel C...

Dan Hesse, President & CEO Sprint Nextel Corporation during his keynote presentation at CTIA WIRELESS (Photo credit: TechShowNetwork)

By Jay Alabaster – Japan‘s Softbank said Monday (Oct 15) it has reached a deal to acquire a 70 percent stake in U.S. mobile operator Sprint Nextel for US$20 billion, forming one of the world’s largest telecom operators.

The companies said the deal would allow aggressive Softbank to expand into the U.S. market and become a global force, with the new, combined entity becoming the third-largest operator in the world by revenue. The deal will also provide $8 billion in new capital to Sprint for its network and to shore up its finances.

“It’s going to open up opportunities for us both internally and externally that we haven’t had since I have been here at Sprint,” Sprint CEO Dan Hesse said at a news conference in Tokyo. more> http://tinyurl.com/8p4r2pq

Investors opt for gold ahead of U.S. “fiscal cliff”

By Eric Onstad – Investors are going for gold as their top commodities choice in what looks like a turbulent fourth quarter for the sector, planning for the possibility of a “fiscal cliff” that could shrink the U.S. economy and spur more money printing.

Previous bouts of quantitative easing (QE) have sent commodity markets soaring with other risk assets, but commodities have recently broken away from tracking equities as investors question the impact of the third round of U.S. bond-buying along with other programs in Europe, Japan and China. more> http://tinyurl.com/9jsa2f2

IT staff, engineers among top 10 toughest jobs to fill in US

By Michael Cooney – Forty-nine percent of US companies are having a hard time filling what workforce management firm ManpowerGroup calls mission-critical positions within their organizations with IT staff, engineers and “skilled trades” among the toughest spots to fill.

Across the globe, employers having the most difficulty finding the right people to fill jobs are located in

Talent shortages are least problematic in Ireland and the Netherlands, ManpowerGroup found. more> http://tinyurl.com/cq36epx

Renesas outsources top-end chips to TSMC as shake-out looms

By Mari Saito – Japan‘s Renesas Electronics will outsource its top-end chips to Taiwan Semiconductor Manufacturing Co to survive cut-throat global competition after falling behind in investment and as it grapples with a costly restructuring.

The company’s escalating troubles follow the February bankruptcy filing of Elpida Memory Inc, Japan’s last producer of dynamic random access memory (DRAM) chips used in personal computers. Elpida is in talks with U.S. firm Micron Technology about a buyout plan. more> http://tinyurl.com/bqbmau8