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Olympus Corp ex-officials charged in scandal
Prosecutors said Wednesday they had charged scandal-hit Olympusand three former senior executives over a huge loss cover-up at the company that rocked confidence in corporate Japan. It came as the 20-day detention period of former presidentTsuyoshi Kikukawa, named as a key player in a scheme to shift $1.7 billion of losses…
Olympus meets filing deadline to avoid delisting
Scandal-hit Olympus on Wednesday filed its delayed earnings report to the Tokyo Stock Exchange, avoiding an automatic delisting that would have wiped out the value of the 92-year-old company. Shortly after the Tokyo bourse closed for the day, the company revealed it had lost 32.3 billion yen ($414 million) in the first half…
Moody’s cuts Japan debt rating
Major ratings agency Moody’s Investors Service downgraded Japan’s sovereign debt rating by one notch Wednesday, putting fresh pressure on the country’s political leaders to repair its finances. Moody’s said it was cutting Japan’s government bond rating to Aa3 from Aa2, citing the “large budget deficits and the build-up in Japanese…
Tokyo shares up on Obama’s debt deal announcement
Tokyo shares rose 1.71 percent on Monday after US President Barack Obama announced that he and top lawmakers had reached an 11th-hour deal to avert a potentially disastrous debt default. At 0100 GMT the Nikkei 225 index at the Tokyo Stock Exchange rose 167.29 points to 10,000.32. The dollar briefly…
Japanese emperor addresses nation
SENDAI, Japan (AFP) – Japan’s emperor gave a rare address to a jittery nation on Wednesday as a nuclear emergency deepened and millions struggled in desperate conditions after last week’s quake and tsunami disaster. The television appearance by Emperor Akihito emphasised the gravity of the crisis gripping Japan after the…
Japan’s nuclear crisis deepens, emperor addresses nation
SENDAI, Japan — Japan’s Emperor Akihito delivered a rare address to a jittery nation in dread of nuclear catastrophe Wednesday as millions struggled in desperate conditions after quake and tsunami disasters. The television appearance by the emperor emphasised the severity of the crisis gripping Japan in the wake of the…
Japan scrambles as reactor container ‘damaged’
SENDAI, Japan – The container around an overheating nuclear reactor appears to be damaged, Japan’s government said Tuesday, raising the chance that dangerous radiation could leak from the quake-hit plant. The announcement came as engineers scrambled to keep the temperature of three reactors under control after they were hit by…
Tokyo stocks drop 5% in first opening since quake
Tokyo shares fell 5.2 percent on Monday in their first opening since Friday, when Japan was struck by the biggest earthquake in its history and a devastating tsunami. The Nikkei index of the Tokyo Stock Exchange fell 540.39 points, a 4 percent drop, shortly after opening to 9,714.04. The Bank of Japan has injected 7 trillion…
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