SoftBank’s record IPO reaches $23.5 bln after extra share sale

SoftBank Group Corp is set to raise 2.65 trillion yen ($23.5 billion) in Japan’s biggest-ever IPO – a share sale widely regarded as finalising the group’s transition from domestic telco to a monolithic global tech investor. Telco unit SoftBank Corp on Monday priced its stock at 1,500 yen apiece, as previously indicated. It also said it will sell all extra shares set aside for excess demand, taking the total just shy of the record $25 billion raised in 2014 by Chinese e-commerce giant Alibaba Gro


SoftBank Group Corp is set to raise 2.65 trillion yen ($23.5 billion) in Japan’s biggest-ever IPO – a share sale widely regarded as finalising the group’s transition from domestic telco to a monolithic global tech investor. Telco unit SoftBank Corp on Monday priced its stock at 1,500 yen apiece, as previously indicated. It also said it will sell all extra shares set aside for excess demand, taking the total just shy of the record $25 billion raised in 2014 by Chinese e-commerce giant Alibaba Gro
SoftBank’s record IPO reaches $23.5 bln after extra share sale Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-12-10  Authors: kazuhiro nogi, afp, getty images
Keywords: news, cnbc, companies, group, stock, shares, sale, corp, share, billion, tech, extra, yen, set, giant, 235, reaches, record, softbanks, bln, softbank, ipo


SoftBank's record IPO reaches $23.5 bln after extra share sale

SoftBank Group Corp is set to raise 2.65 trillion yen ($23.5 billion) in Japan’s biggest-ever IPO – a share sale widely regarded as finalising the group’s transition from domestic telco to a monolithic global tech investor.

Telco unit SoftBank Corp on Monday priced its stock at 1,500 yen apiece, as previously indicated.

It also said it will sell all extra shares set aside for excess demand, taking the total just shy of the record $25 billion raised in 2014 by Chinese e-commerce giant Alibaba Group Holding Ltd, a SoftBank Group portfolio company.

The group, which controls the world’s biggest tech private equity fund at nearly $100 billion, will use the proceeds to invest in startups which have ranged from tiny games makers to U.S. ride-hailing giant Uber Technologies Inc.

“Demand was well above the number of shares on offer,” SoftBank Corp said, declining to disclose by how much.

The stock will debut on the Tokyo Stock Exchange’s first section on Dec. 19.


Company: cnbc, Activity: cnbc, Date: 2018-12-10  Authors: kazuhiro nogi, afp, getty images
Keywords: news, cnbc, companies, group, stock, shares, sale, corp, share, billion, tech, extra, yen, set, giant, 235, reaches, record, softbanks, bln, softbank, ipo


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Dollar dips versus yen as growth concerns shake confidence

The dollar fell against the yen on Thursday as growing investor aversion to riskier assets hit equities and pushed down U.S. Treasury yields. Global equity markets have been shaken and the dollar fell this week after an inversion in a part of the U.S. Treasury yield curve triggered market concerns about economic growth. U.S. Treasury yields fell, pressuring the dollar. “Lower Treasury yields are driving the dollar lower against the yen. The euro lost 0.42 percent to 127.85 yen, the Australian do


The dollar fell against the yen on Thursday as growing investor aversion to riskier assets hit equities and pushed down U.S. Treasury yields. Global equity markets have been shaken and the dollar fell this week after an inversion in a part of the U.S. Treasury yield curve triggered market concerns about economic growth. U.S. Treasury yields fell, pressuring the dollar. “Lower Treasury yields are driving the dollar lower against the yen. The euro lost 0.42 percent to 127.85 yen, the Australian do
Dollar dips versus yen as growth concerns shake confidence Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-12-06  Authors: matt cardy, getty images
Keywords: news, cnbc, companies, growth, dollar, concerns, meeting, lower, treasury, versus, dips, confidence, yields, fell, yen, yield, week, shake, market


Dollar dips versus yen as growth concerns shake confidence

The dollar fell against the yen on Thursday as growing investor aversion to riskier assets hit equities and pushed down U.S. Treasury yields.

The U.S. currency dropped 0.45 percent to 112.68 yen, handing back its modest gains made overnight.

Global equity markets have been shaken and the dollar fell this week after an inversion in a part of the U.S. Treasury yield curve triggered market concerns about economic growth.

Adding to the jitters on Thursday was the arrest in Canada of a top executive of Chinese tech giant Huawei Technologies, fanning fears of a flare-up in tensions between China and the United States just as the two sides are supposed to be resuming trade negotiations.

MSCI’s broadest index of Asia-Pacific shares outside Japan was down 1.93 percent and Japan’s Nikkei lost more than 2 percent.

U.S. Treasury yields fell, pressuring the dollar.

“Lower Treasury yields are driving the dollar lower against the yen. It is difficult to pinpoint how much funds investors have transferred from equities to bonds in the recent risk aversion and it is too early to call a bottom for Treasury yields,” said Yukio Ishizuki, senior currency strategist at Daiwa Securities.

The 10-year Treasury yield last stood at 2.8829 percent.

Signals from the Federal Reserve last week that it may be nearing an end to its three-year rate hiking cycle have helped trigger the slide in Treasury yields.

The spread between the two-year and five-year Treasury yields inverted this week and the two-year/10-year spread was at its flattest in more than a decade amid a sharp fall in long-term rates.

A flatter curve is seen as an indicator of a slowing economy, with lower longer-dated yields suggesting a potential recession down the road.

“The dollar could remain under pressure until this month’s Fed meeting as long-term Treasury yields may not be able to mount a rebound until the market sees the Fed’s stance on policy and the economy,” said Junichi Ishikawa, senior FX strategist at IG Securities in Tokyo.

“The recent reaction to the U.S. yield curve inversion appears a little hysterical, but the dollar will not be given the all clear sign until the Fed meeting is hurdled.”

Fed policymakers are still widely expected to raise interest rates again at their Dec 18-19 meeting, but the market focus is on how many rate hikes will follow in 2019.

The yen, often sought in times of market unrest, made strides against other peers as well.

The euro lost 0.42 percent to 127.85 yen, the Australian dollar slumped 1.02 percent to 81.44 yen and the pound fell 0.55 percent to 143.33 yen.

The euro was little changed at $1.1346 after retreating from this week’s high of $1.1419 scaled on Tuesday.

The Australian dollar, sensitive to swings in risk sentiment, was down 0.58 percent at $0.7226.

The Aussie was already on a shaky footing after shedding nearly 1 percent the previous day on weaker-than-expected third quarter Australian gross domestic product data.

The pound was a shade lower at $1.2723.

Sterling had sunk to a 17-month low of $1.2659 at one point on Tuesday after parliamentary setbacks for Prime Minister Theresa May.

— CNBC contributed to this report.


Company: cnbc, Activity: cnbc, Date: 2018-12-06  Authors: matt cardy, getty images
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Japanese prosecutors reportedly will arrest Carlos Ghosn on fresh claim, prolonging custody

Tokyo prosecutors plan to arrest Carlos Ghosn on a fresh claim of understating his income, the Sankei newspaper reported on Tuesday, in a move that could keep the former chairman of Nissan Motor in detention until the end of the year. If authorities approve the maximum detention for that case, Ghosn and Kelly would remain in custody until Dec. 30, the paper said. The Tokyo prosecutors’ office declined to comment on the report. In Japan, crime suspects can be kept in custody for 10 days and that


Tokyo prosecutors plan to arrest Carlos Ghosn on a fresh claim of understating his income, the Sankei newspaper reported on Tuesday, in a move that could keep the former chairman of Nissan Motor in detention until the end of the year. If authorities approve the maximum detention for that case, Ghosn and Kelly would remain in custody until Dec. 30, the paper said. The Tokyo prosecutors’ office declined to comment on the report. In Japan, crime suspects can be kept in custody for 10 days and that
Japanese prosecutors reportedly will arrest Carlos Ghosn on fresh claim, prolonging custody Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-12-04  Authors: getty images
Keywords: news, cnbc, companies, reportedly, carlos, dec, ghosn, yen, kelly, crime, suspects, fresh, japanese, custody, arrest, claim, tokyo, prosecutors, prolonging, detention


Japanese prosecutors reportedly will arrest Carlos Ghosn on fresh claim, prolonging custody

Tokyo prosecutors plan to arrest Carlos Ghosn on a fresh claim of understating his income, the Sankei newspaper reported on Tuesday, in a move that could keep the former chairman of Nissan Motor in detention until the end of the year.

Ghosn has been detained in Tokyo since his Nov. 19 arrest on suspicion of conspiring with former Nissan Representative Director Greg Kelly to understate his compensation by about half of the actual 10 billion yen ($88 million), over five years from 2010. Tokyo authorities on Friday extended their detention until the maximum Dec. 10 for the alleged crime.

Citing unnamed sources, the Sankei daily said prosecutors plan to arrest Ghosn and Kelly on Dec. 10 for the same crime covering the period from 2015 to 2017, during which the suspects allegedly understated Ghosn’s income by about 4 billion yen. If authorities approve the maximum detention for that case, Ghosn and Kelly would remain in custody until Dec. 30, the paper said.

The Tokyo prosecutors’ office declined to comment on the report.

Ghosn has been unable to respond to the allegations, which public broadcaster NHK has said he has denied. Calls to Ghosn’s lawyer, Motonari Otsuru, at his office went unanswered.

In Japan, crime suspects can be kept in custody for 10 days and that can be extended for another 10 days if a judge grants prosecutors’ request for extension. At the end of that period, prosecutors must file a formal charge or let the suspect go.

However, they can also arrest suspects for a separate crime, in which case the process starts over again. This process can be repeated, sometimes keeping suspects detained for months without formal charges and without bail.


Company: cnbc, Activity: cnbc, Date: 2018-12-04  Authors: getty images
Keywords: news, cnbc, companies, reportedly, carlos, dec, ghosn, yen, kelly, crime, suspects, fresh, japanese, custody, arrest, claim, tokyo, prosecutors, prolonging, detention


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Dollar weakens as US-China trade truce revives demand for riskier currencies

Riskier currencies such as the Australian dollar and New Zealand dollar rallied by more than 0.5 percent each, while safe haven currencies such as the yen and the Swiss franc traded weaker in early Asian trade, signalling a clear risk-on move in the financial markets. “The trade truce is definitely risk positive for the markets…we expect dollar safe haven buying to fade and riskier currencies such as the Aussie and Kiwi dollar to scale higher,” said Rodrigo Catril, senior currency strategist a


Riskier currencies such as the Australian dollar and New Zealand dollar rallied by more than 0.5 percent each, while safe haven currencies such as the yen and the Swiss franc traded weaker in early Asian trade, signalling a clear risk-on move in the financial markets. “The trade truce is definitely risk positive for the markets…we expect dollar safe haven buying to fade and riskier currencies such as the Aussie and Kiwi dollar to scale higher,” said Rodrigo Catril, senior currency strategist a
Dollar weakens as US-China trade truce revives demand for riskier currencies Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-12-03
Keywords: news, cnbc, companies, weakens, currency, revives, marketsthe, versus, riskier, trade, uschina, dollar, currencies, traded, weaker, truce, demand, value, yen


Dollar weakens as US-China trade truce revives demand for riskier currencies

The dollar fell across the board on Monday as investor demand for riskier assets rose after China and the U.S. agreed to a cease-fire in a trade dispute that has shaken global markets.

The White House said on Saturday that President Donald Trump told China’s President Xi Jinping at the G-20 talks in Argentina that he would not boost tariffs on $200 billion of Chinese goods to 25 percent on Jan. 1 as previously announced.

China and United States will try to bridge their differences via new talks aimed at reaching a deal within 90 days.

Riskier currencies such as the Australian dollar and New Zealand dollar rallied by more than 0.5 percent each, while safe haven currencies such as the yen and the Swiss franc traded weaker in early Asian trade, signalling a clear risk-on move in the financial markets.

“The trade truce is definitely risk positive for the markets…we expect dollar safe haven buying to fade and riskier currencies such as the Aussie and Kiwi dollar to scale higher,” said Rodrigo Catril, senior currency strategist at NAB.

Catril noted that crosses such as the Aussie/yen and kiwi/yen are likely to see further upside as currency traders react to the temporary truce between the world’s two largest economies.

The dollar index, a gauge of its value versus six major peers, traded down 0.13 percent at 97.14.

The dollar lost 0.54 percent versus the offshore yuan, its steepest percentage fall since Oct. 1, to quote at 6.9134.

The safe-haven yen weakened to 113.68 on Monday, with the greenback gaining 0.2 percent, reflecting the prevailing risk-on mood. The euro gained 0.34 percent on the yen to 128.89, briefly hitting an intra-day high of 129.37, its highest level since Nov. 9.

The euro changed hands gained 0.16 percent to $1.1333 amid heavy dollar selling.

However, some analysts warned many issues had to be resolved for risk sentiment to stay positive in the medium term.

“Ultimately, it remains a high order for China to fulfil the U.S. demands on structural issues…at a time when the major issues that the U.S. has raised represent a challenge to China’s rise, a long-lasting and meaningful de-escalation remains very challenging,” said Daniel Been, head of currency research at ANZ.

Apart from trade, investor focus will also return to the U.S. monetary policy, with the Federal Reserve expected to raise interest rates by 25 basis points later in December, which would be its fourth rate hike this year.

“The developments over the weekend will give the Fed some more confidence to raise rates in 2019,” said Michael McCarthy, chief market strategist at CMC markets.

The dollar had come under pressure last week when the market took comments by Federal Reserve Chair Jerome Powell as hinting at a slower pace of rate hikes.

Powell is scheduled to testify before a congressional Joint Economic Committee later this week.

The British pound traded weaker versus the dollar at $1.2740 losing around 0.1 percent of its value. Sterling has posted losses for three consecutive weeks as traders bet that British Prime Minister Theresa May will not be able to pass her Brexit deal through parliament on Dec. 11.


Company: cnbc, Activity: cnbc, Date: 2018-12-03
Keywords: news, cnbc, companies, weakens, currency, revives, marketsthe, versus, riskier, trade, uschina, dollar, currencies, traded, weaker, truce, demand, value, yen


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SoftBank sets indicative IPO price for mobile unit

SoftBank chalked up another first in Japan on Friday, setting a single indicative price of 1,500 yen for its telco IPO rather than the usual range, pegging the share sale at 2.4 trillion yen ($21.16 billion) in the country’s biggest-ever listing. The price was unchanged from the estimate that SoftBank Corp, the domestic telecommunications subsidiary of Japan’s SoftBank Group Corp, announced when it launched the initial public offering (IPO) earlier this month. The IPO is aimed at providing the g


SoftBank chalked up another first in Japan on Friday, setting a single indicative price of 1,500 yen for its telco IPO rather than the usual range, pegging the share sale at 2.4 trillion yen ($21.16 billion) in the country’s biggest-ever listing. The price was unchanged from the estimate that SoftBank Corp, the domestic telecommunications subsidiary of Japan’s SoftBank Group Corp, announced when it launched the initial public offering (IPO) earlier this month. The IPO is aimed at providing the g
SoftBank sets indicative IPO price for mobile unit Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-30  Authors: tomohiro ohsumi, getty images
Keywords: news, cnbc, companies, indicative, unchanged, estimate, yen, unit, group, ipo, softbank, sale, corp, mobile, price, usual, sets


SoftBank sets indicative IPO price for mobile unit

SoftBank chalked up another first in Japan on Friday, setting a single indicative price of 1,500 yen for its telco IPO rather than the usual range, pegging the share sale at 2.4 trillion yen ($21.16 billion) in the country’s biggest-ever listing.

The price was unchanged from the estimate that SoftBank Corp, the domestic telecommunications subsidiary of Japan’s SoftBank Group Corp, announced when it launched the initial public offering (IPO) earlier this month.

The IPO is aimed at providing the group with funds to pay down debt and place big bets on innovations that Chief Executive Masayoshi Son predicts will drive future tech trends.

Reasons for sticking with the first estimate were not immediately clear. Brokerages initially expressed concern over whether there would be sufficient demand for the IPO given the size of the sale but have since reported strong interest.


Company: cnbc, Activity: cnbc, Date: 2018-11-30  Authors: tomohiro ohsumi, getty images
Keywords: news, cnbc, companies, indicative, unchanged, estimate, yen, unit, group, ipo, softbank, sale, corp, mobile, price, usual, sets


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Nissan probe reportedly finds ousted chairman Ghosn failed to disclose $80 million in deferred pay

Ousted Nissan chairman Carlos Ghosn failed to disclose more than $80 million in deferred pay, the Wall Street Journal reported, citing an unnamed person familiar with the company’s investigation. He has since been ousted as chairman of automakers Nissan and Mitsubishi but remains chairman and CEO of Renault. In 2010, Japan changed the law to require companies to disclose the salaries of executives who earn more than 100 million yen, now worth about $880,000, according to the paper. Ghosn made ab


Ousted Nissan chairman Carlos Ghosn failed to disclose more than $80 million in deferred pay, the Wall Street Journal reported, citing an unnamed person familiar with the company’s investigation. He has since been ousted as chairman of automakers Nissan and Mitsubishi but remains chairman and CEO of Renault. In 2010, Japan changed the law to require companies to disclose the salaries of executives who earn more than 100 million yen, now worth about $880,000, according to the paper. Ghosn made ab
Nissan probe reportedly finds ousted chairman Ghosn failed to disclose $80 million in deferred pay Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-29  Authors: amelia lucas, philippe wojazer
Keywords: news, cnbc, companies, reportedly, nissan, journal, company, pay, failed, yen, chairman, finds, familiar, disclose, million, ousted, told, probe, ghosn


Nissan probe reportedly finds ousted chairman Ghosn failed to disclose $80 million in deferred pay

Ousted Nissan chairman Carlos Ghosn failed to disclose more than $80 million in deferred pay, the Wall Street Journal reported, citing an unnamed person familiar with the company’s investigation.

A Nissan probe found that Ghosn accumulated about $82 million in IOUs from Nissan over a period of nine years without any plan for how the compensation would be paid, people familiar with the matter told the Journal. While the company committed to pay him that money, there was no plan set in place for how he would collect the money after retirement.

Japanese prosecutors arrested Ghosn on Nov. 19 for allegedly under-reporting his income. He has since been ousted as chairman of automakers Nissan and Mitsubishi but remains chairman and CEO of Renault.

In 2010, Japan changed the law to require companies to disclose the salaries of executives who earn more than 100 million yen, now worth about $880,000, according to the paper.

Ghosn made about 1.75 billion yen ($15.45 million) the year before, the Journal wrote, citing the person familiar with the investigation.

Instead of facing potential public backlash for his high salary, Ghosn instructed his staff to pay him only $7.8 million and then pay him the rest, roughly $7.5 million, later, the Journal reported.

Nissan told investors Ghosn earned 735 million yen, or $6.5 million today, for its most recent fiscal year that ended March 31. But he deferred most of his pay until after his retirement, bringing his total compensation that year to almost $22 million, according to the Journal, citing the person familiar with the investigation.

Under Nissan’s corporate governance rules, Ghosn, as chairman of the automaker, could decide his own salary. In the following years, he increased the deferred pay rapidly without telling fellow board members — or reflecting that same rate of increase in the pay he reported to the Japanese government, according to the Journal.

Nissan is also examining Ghosn’s alleged misuse of company funds for private purposes, including buying and renting apartments and houses, a source familiar with the matter told the WSJ.

Nissan said it could not confirm the Journal report because the investigation is still ongoing.

“We can, however, say that, following a whistleblowing report, Nissan has been conducting an internal investigation spanning multiple months into the conduct of Mr. Ghosn and Mr. [Greg] Kelly,” Nissan spokesman Nick Maxfield said in an email. “The internal investigation revealed evidence of significant underreporting of compensation, as well as misuse of company assets for personal purposes.”

Maxfield said that the company shared the results of its probe with Tokyo prosecutors and subsequently the board. A unanimous vote removed Ghosn as chairman and Kelly from the post of representative director.

Read more about what the Nissan probe discovered at the Wall Street Journal.


Company: cnbc, Activity: cnbc, Date: 2018-11-29  Authors: amelia lucas, philippe wojazer
Keywords: news, cnbc, companies, reportedly, nissan, journal, company, pay, failed, yen, chairman, finds, familiar, disclose, million, ousted, told, probe, ghosn


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Whether it’s a hollow truce or a handshake agreement, the G-20 will likely hurt the yuan

“This is about much, much more than just a trade surplus,” said Jonathan Pain, author and publisher of the weekly Pain Report. “We are at the early stages of a long drawn out economic war between America and China.” Michael Every, head of financial markets research Asia-Pacific at Rabobank, characterized the likely upshot of G-20 as “can-kicking at best.” Every said long positions, or bullish bets, on the U.S. dollar and short yuan, or bets the Chinese currency would fall, made sense under such


“This is about much, much more than just a trade surplus,” said Jonathan Pain, author and publisher of the weekly Pain Report. “We are at the early stages of a long drawn out economic war between America and China.” Michael Every, head of financial markets research Asia-Pacific at Rabobank, characterized the likely upshot of G-20 as “can-kicking at best.” Every said long positions, or bullish bets, on the U.S. dollar and short yuan, or bets the Chinese currency would fall, made sense under such
Whether it’s a hollow truce or a handshake agreement, the G-20 will likely hurt the yuan Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-27  Authors: sri jegarajah, -patrick bennett, macro strategist at cibc capital markets, -sean callow, senior currency strategist at westpac
Keywords: news, cnbc, companies, hollow, hurt, weekly, bets, currency, agreement, chinese, yuan, truce, g20, long, yen, pain, war, handshake, likely


Whether it's a hollow truce or a handshake agreement, the G-20 will likely hurt the yuan

“This is about much, much more than just a trade surplus,” said Jonathan Pain, author and publisher of the weekly Pain Report. “We are at the early stages of a long drawn out economic war between America and China.”

Michael Every, head of financial markets research Asia-Pacific at Rabobank, characterized the likely upshot of G-20 as “can-kicking at best.” The Chinese president “can’t deliver on anything the U.S. wants and needs. Hence no deal,” he said.

Every said long positions, or bullish bets, on the U.S. dollar and short yuan, or bets the Chinese currency would fall, made sense under such a scenario. He also said the Japanese yen will likely rise “if risk really accelerates too rapidly.”

National Australia Bank’s currency strategist Rodrigo Catril is expecting a “hollow truce” — where the U.S. agrees to temporarily hold off on further tariff action and both sides agree to talks at a future date to diffuse tensions on a more permanent basis.


Company: cnbc, Activity: cnbc, Date: 2018-11-27  Authors: sri jegarajah, -patrick bennett, macro strategist at cibc capital markets, -sean callow, senior currency strategist at westpac
Keywords: news, cnbc, companies, hollow, hurt, weekly, bets, currency, agreement, chinese, yuan, truce, g20, long, yen, pain, war, handshake, likely


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Dollar steady in safe-haven trade, sterling gains slightly on Brexit deal news

European Union leaders sealed a Brexit pact on Sunday calling it the ‘best possible’ deal that Britain could have got. The yen traded with a strong bias in early Asian trade on Monday. This interest rate differential between U.S. and Japanese bonds makes the dollar a more attractive bet than the yen. Analysts also believe another factor supporting the dollar is Japanese investors remaining heavily invested in U.S. and other foreign assets. The New Zealand dollar lost 0.3 percent to trade at $067


European Union leaders sealed a Brexit pact on Sunday calling it the ‘best possible’ deal that Britain could have got. The yen traded with a strong bias in early Asian trade on Monday. This interest rate differential between U.S. and Japanese bonds makes the dollar a more attractive bet than the yen. Analysts also believe another factor supporting the dollar is Japanese investors remaining heavily invested in U.S. and other foreign assets. The New Zealand dollar lost 0.3 percent to trade at $067
Dollar steady in safe-haven trade, sterling gains slightly on Brexit deal news Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-26  Authors: matt cardy, getty images
Keywords: news, cnbc, companies, gains, versus, safehaven, brexit, deal, traded, safe, president, steady, slightly, yen, rate, dollar, japanese, traders, sterling, trade


Dollar steady in safe-haven trade, sterling gains slightly on Brexit deal news

The dollar rose versus its major peers on Monday, as investors sought shelter in safe haven currencies as fears of a global growth slowdown and U.S.-Sino trade tensions grappled risk appetite.

The greenback and the yen, both considered safe haven currencies advanced as traders fear that last week’s capitulation in oil prices suggests that the global economic recovery is losing steam.

The British pound changed hands at $1.2819, gaining 0.05 percent versus the dollar. European Union leaders sealed a Brexit pact on Sunday calling it the ‘best possible’ deal that Britain could have got.

A vote in the British parliament vote is expected to take place just before the next EU summit on Dec. 13-14. Most analysts expect sterling to be subdued till then.

With Brexit settled for now, currency traders are looking to the upcoming G-20 meeting in Buenos Aires on Nov.30, where President Trump and President Xi are likely to discuss trade.

Investors are hoping a workable deal can out of the summit because if not, Washington’s 10 percent tariff rate on $200 billion of Chinese imports will rise by early next year to 25 percent.

Trump has threatened to impose tariffs on all remaining Chinese imports – about $267 billion more in goods – if Beijing fails to address U.S. demands.

“If there is some sort of truce which comes out of this deal, we will see money coming out of the safe haven dollar,” added Catril.

“This would bode well for the riskier currencies such as the Aussie, kiwi dollar and the Asian emerging market currencies.”

The yen traded with a strong bias in early Asian trade on Monday. The Japanese currency traded within a very tight range of less than 100 pips last week.

The dollar is expected to remain in an uptrend against the yen, with the Fed on a monetary tightening path while the Bank of Japan remains committed to its ultra-loose monetary policy due to low growth and inflation.

This interest rate differential between U.S. and Japanese bonds makes the dollar a more attractive bet than the yen.

Analysts also believe another factor supporting the dollar is Japanese investors remaining heavily invested in U.S. and other foreign assets.

The euro traded marginally lower at $1.1335. The single currency lost 0.7 percent versus the greenback last week as traders reacted to weak economic data out of the common area.

The ongoing tussle between Rome and Brussels over Italy’s free-spending budget, which breaks the European Commission’s fiscal rules, has also put the euro under pressure.

However, Italian Deputy Prime Minister Matteo Salvini hinted on Sunday at the possibility of tweaking the country’s deficit goal for next year, a move that could open a negotiation between Rome and Brussels to avoid a disciplinary procedure against Italy.

There will be increased focus on ECB President Draghi’s appearance at the European parliament on Monday, with markets expecting to take dovish tone given the weakness in recent economic data.

“The ECB’s quantitative easing programme is set to finish up next month and we think the hurdle to extend the programme is exceptionally high,” said Nick Smyth, interest rate strategist at BNZ Markets in a note.

The New Zealand dollar lost 0.3 percent to trade at $06760 as investors took in weaker-than-expected retail sales data.


Company: cnbc, Activity: cnbc, Date: 2018-11-26  Authors: matt cardy, getty images
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Want a free country house in Japan? They’re giving them away

Japan has an increasing number of vacant homes — a problem that’s set to persist because of an aging and shrinking population that has left many towns and villages empty. Akiya is the Japanese term for vacant homes. Properties listed on Tochigi’s “akiya bank”On one website, several homes are free, with the buyer having to pay only taxes and fees such as agent commissions. The free homes also usually require major refurbishment because they are old and run down. But some local governments — such


Japan has an increasing number of vacant homes — a problem that’s set to persist because of an aging and shrinking population that has left many towns and villages empty. Akiya is the Japanese term for vacant homes. Properties listed on Tochigi’s “akiya bank”On one website, several homes are free, with the buyer having to pay only taxes and fees such as agent commissions. The free homes also usually require major refurbishment because they are old and run down. But some local governments — such
Want a free country house in Japan? They’re giving them away Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-22  Authors: yen nee lee, harvey meston, archive photos, getty images
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Want a free country house in Japan? They're giving them away

Japan has an increasing number of vacant homes — a problem that’s set to persist because of an aging and shrinking population that has left many towns and villages empty.

“Japan faces significant economic and social impact effects from demographic (aging) over the next three decades,” Rajiv Biswas, Asia-Pacific chief economist at IHS Markit, wrote in an October note.

Abandoned properties in the world’s third-largest economy are among the least-discussed side effects of the country’s demographic changes. But it’s getting more attention given the increasing number of affordable — and sometimes free — houses put up for sale online on websites called “akiya banks.”

Akiya is the Japanese term for vacant homes. Many of such sites are set up by local governments and communities to better manage the supply and demand for the growing stock of empty houses in their respective towns.

Properties listed on Tochigi’s “akiya bank”

On one website, several homes are free, with the buyer having to pay only taxes and fees such as agent commissions.

“This is usually because the owners cannot take care of the property anymore or do not want to pay the property tax that applies in Japan for a home that they do not use,” said real estate site REthink Tokyo in an October report.

The free homes also usually require major refurbishment because they are old and run down. But some local governments — such as the Tochigi and Nagano prefectures — offer subsidies for renovation work on vacant houses.

For vacant homes that are not free, prices can range from 500,000 Japanese yen ($4,428.50) to close to 20 million yen ($177,140) depending on location, age and condition of the house, according to the listings seen by CNBC.


Company: cnbc, Activity: cnbc, Date: 2018-11-22  Authors: yen nee lee, harvey meston, archive photos, getty images
Keywords: news, cnbc, companies, set, vacant, pay, property, usually, country, local, away, homes, free, house, japan, giving, yen, number, theyre


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Japan prosecutors reportedly consider bringing case against Nissan after Ghosn arrest

Japanese prosecutors are considering bringing a case against Nissan Motor after Chairman Carlos Ghosn’s arrest on suspicion of financial misconduct, the Asahi Shimbun daily said on Wednesday. Reuters could not contact Ghosn or Kelly for comment. Ghosn is also chairman and chief executive of Nissan’s French partner Renault, and chairman of Japan’s Mitsubishi Motors, the third partner in the alliance. Shares in Nissan rose 0.6 percent on Wednesday after falling nearly 6 percent a day earlier. Sepa


Japanese prosecutors are considering bringing a case against Nissan Motor after Chairman Carlos Ghosn’s arrest on suspicion of financial misconduct, the Asahi Shimbun daily said on Wednesday. Reuters could not contact Ghosn or Kelly for comment. Ghosn is also chairman and chief executive of Nissan’s French partner Renault, and chairman of Japan’s Mitsubishi Motors, the third partner in the alliance. Shares in Nissan rose 0.6 percent on Wednesday after falling nearly 6 percent a day earlier. Sepa
Japan prosecutors reportedly consider bringing case against Nissan after Ghosn arrest Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-21  Authors: philippe wojazer
Keywords: news, cnbc, companies, comment, arrest, nissan, japan, chairman, bringing, yen, nissans, partner, case, ghosn, prosecutors, consider, company, kelly, reportedly


Japan prosecutors reportedly consider bringing case against Nissan after Ghosn arrest

Japanese prosecutors are considering bringing a case against Nissan Motor after Chairman Carlos Ghosn’s arrest on suspicion of financial misconduct, the Asahi Shimbun daily said on Wednesday.

Ghosn, one of the global car industry’s best-known leaders, was arrested on Monday after Nissan’s internal investigations found he had allegedly engaged in years of wrongdoing, including personal use of company money and under-reporting earnings. The Japanese company plans to remove him as chairman on Thursday.

Prosecutors said Ghosn and Representative Director Greg Kelly conspired to understate Ghosn’s compensation over five years starting in fiscal 2010 as being about half of the actual 10 billion yen ($88.65 million).

The Asahi quoted unnamed sources as saying that the mis-stating meant the company also bore responsibility and that prosecutors were eyeing the possibility of putting together a case against it.

Prosecutors were not immediately able to comment. Nissan declined to comment on the report.

There has been no comment from Ghosn or Kelly on any of the allegations against them, including a report in Japan’s Nikkei business daily on Tuesday that Ghosn had received share price-linked compensation of about 4 billion yen over a five-year period to March 2015 but that it went unreported in Nissan’s financial reports.

Reuters could not contact Ghosn or Kelly for comment.

Ghosn is also chairman and chief executive of Nissan’s French partner Renault, and chairman of Japan’s Mitsubishi Motors, the third partner in the alliance.

Renault on Tuesday tapped its chief operating officer and a senior board member to fill in for Ghosn, but the board refrained from firing him while awaiting for detail on the allegations – a decision that could buy more time for an accelerated, permanent succession process.

Shares in Nissan rose 0.6 percent on Wednesday after falling nearly 6 percent a day earlier.

Separately, the Tokyo District Court has decided that Ghosn and Kelly will be detained for 10 days, Kyodo News reported on Wednesday.


Company: cnbc, Activity: cnbc, Date: 2018-11-21  Authors: philippe wojazer
Keywords: news, cnbc, companies, comment, arrest, nissan, japan, chairman, bringing, yen, nissans, partner, case, ghosn, prosecutors, consider, company, kelly, reportedly


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