Japan

Berkshire Hathaway's stock has done well during a turbulent year. This weekend, shareholders will seek reassurances from Warren Buffett to ensure that they are in good hands despite the tariff chaos disrupting corporate America. The 94-year old billionaire will celebrate 60 years of running the conglomerate he created, which now has a value of $1.15 trillion, at Saturday's annual gathering in Omaha, Nebraska. Buffett will spend four-and-a half hours answering shareholder questions. These typically center around Berkshire’s operating businesses, the markets, the economy and life lessons. Berkshire Hathaway Energy is one of the many businesses that Berkshire Hathaway operates. Other...

Alimentation Couche-Tard and Japan's Seven & i have signed a non-disclosure (NDA) agreement that will allow the Canadian company to access the Japanese retailer's data in order to pursue a $47 Billion acquisition. The deal represents progress in the takeover negotiations for Couche-Tard. It operates Circle-K convenience store in Canada and in the United States, and has been trying since August to acquire Seven & i. Seven & i, the operator of 7-Eleven, said that the terms and conditions of the agreement would remain confidential. The agreement includes a clause that protects the target companies against hostile takeovers. Couche-Tard said...

SK Innovation Co Ltd, the owner of South Korea’s largest oil refiner SK Energy swung into an unexpected operating loss during the first quarter due to lower oil prices. However, the company forecasts a recovery in the refining margins for the second quarter. The company reported an operating loss for the third quarter ended March 31 of 45 billion won (32 million dollars), a sharp drop from the 625 billion won profits it recorded a year earlier. According to LSEG SmartEstimate, analysts had estimated a profit of 393 billion won. "Operating Income declined despite improving earnings from the Battery Business,...

Mao Saigo, a Japanese player, won the Chevron Championship after beating four other players in a sudden-death playoff. The 23-year old won his first major after being tied with Ryu Haeran of South Korea after three rounds. However, a few late mistakes led to a score of two over par on Sunday. She sank a birdie on the par five 18th hole to keep herself in it. She joined China's Yin Ruoning and South Korean Kim Hyo Joo as well as Thailand's Ariya Jutanugarn, and Lindy Duncan from the United States, in the playoff. In a televised statement, she said:...

Seven & I Holdings is the owner of 7-11 convenience stores. It said that it expected to have to look closely at its supply chain in order reduce costs, as U.S. customers grappled with the impact of U.S. Tariffs. Stephen Dacus, the new CEO of the Japanese retail conglomerate, told reporters that he believes they will be faced with a more challenging retail environment. Retailers will face a difficult challenge as tariffs are imposed or in the process of being imposed by President Donald Trump to reshape world trade. U.S. consumer confidence declined in April, and 12-month inflation expectations soared...

Hazeltree, a data and technology firm, said that shortsellers had targeted a broader range of equity sectors before President Donald Trump announced his "Liberation Day", or April 2, tariff announcement. They also raised negative bets against a group of large tech stocks. Super Micro Computer was the most popular security. It knocked oil and gas producer Chevron from the top spot it held for two months. Prior to this, tech stocks dominated the top 10 list of most-shorted U.S. Large Caps. Hazeltree reported that only five of the top 10 stocks most shorted in March were tech shares, compared to...

New Zealand and Australia announced on Thursday that they were each working with other countries on a potential joint response to bolster free trade in the face of a barrage U.S. Tariffs. Christopher Luxon, the New Zealand Prime Minister, said that he spoke with leaders from Singapore, Vietnam, and Malaysia as well as with the head of the executive of the European Union about international trade. Luxon, in a speech he gave on Thursday, floated the idea that members of the European Union and Comprehensive and Progressive Agreement for Trans-Pacific Partnership(CPTPP) could work together. The global trade system has been...

Seven & i Holdings, a Japanese company, reported on Wednesday that its fourth-quarter profits dropped by 15%. This could make it more difficult for the company to fend of a hostile takeover bid from Alimentation Couche-Tard in Canada. The earnings of the 7-Eleven convenience store operator came in slightly better than expected, but it was the fourth consecutive quarter that profits declined. Inflation has increased the price of materials in Japan and utility costs. The country also lags behind its competitors in terms of attracting customers who are price-conscious. Executives noted that the uncertainty surrounding President Donald Trump's proposed tariffs...

The oil price fell to its lowest level in four years on Wednesday, in the worst five-day loss streak in three year. Several commodities, such as base metals, also tumbled, as the trade conflict between China and the U.S. intensifies. As global recession fears gripped the financial markets, stocks in Asia continued to fall on Wall Street. U.S. president Donald Trump appeared set to impose a whopping 104% duty on Chinese goods. ANZ released a report that said "Crude Oil extended losses amid signs escalation of the trade war." "Copper is down nearly 10% since Trump announced the reciprocal tariffs...

Seven & i Holdings, a Japanese company, announced on Wednesday that its fourth-quarter profits fell by 15%. This is likely to hinder the ability of Alimentation Couche-Tard to takeover Seven & i Holdings. 7-Eleven's operator booked an operating profit of 105.6 bn yen ($726.4m) during the period December-February, which is slightly higher than the average 94.5 bn yen of eight analyst forecasts compiled by LSEG. Its fourth consecutive quarter saw a decline in profits as inflation levels in Japan and North America impacted consumer spending. It has been hit by price-conscious consumers switching to cheaper competitors in its domestic market....

Seven & i Holdings, a Japanese retailer, is expected to report a 24% decline in its quarterly profit on March 28, as the underperformance of its convenience stores hampers its ability fend off a Canadian takeover bid by Alimentation CoucheTard. Seven & i will likely book an operating profit of 94.45 trillion yen (US$639.52 millions) for the period December-February. This is according to a LSEG average of eight analyst predictions. This compares to 124.23 bn yen for the same period last year. 7-Eleven's profits have fallen in recent quarters, as its domestic convenience stores underperformed their competitors. Its North American...

The plan of convenience store giants Couche-Tard & Seven & i to sell thousands of stores in North America, to reduce regulatory concerns before a possible merger, is being tested by rival bidders. According to several antitrust experts and people who are familiar with the situation, it is likely that the two store operators will struggle to attract offers from other convenience stores chains. They may be wary about their own antitrust risks from a potential deal. Seven & i is the owner of the 7-Eleven chain, which operates more than 12,000 convenience stores in the U.S. Sources said that...

Microsoft's Xbox has increased the price of its consoles, controllers and first-party games, as well as other accessories. This follows similar actions by competitors, due to U.S. Tariffs impacting supply chains globally. Xbox announced in a blog on Thursday that it would be raising the prices of its products across the United States as well as Europe, Australia, and the United Kingdom. Xbox Series X, the more powerful console, will now be sold for around $600 in America. This is an increase of about $100. This move comes just a few short weeks after Sony, the maker of PlayStation 5,...

The White House rejected an attempt on Thursday to provide immediate relief to small U.S. businesses from tariffs. It said that these companies would benefit from the tax cuts Congress wants to extend. In a letter sent to the administration of U.S. president Donald Trump, the U.S. Chamber of Commerce asked that small businesses be exempted from tariffs, if they could show it would hurt U.S. workers, and if their products cannot be produced in America or are not easily available. When asked by reporters about the request, Stephen Miller, deputy chief of staff at the White House for policy...

Third Point hedge fund owns "meaningful" stakes in U.S. Steel, and it expects the merger between Nippon Steel of Japan and U.S. Steel to proceed. In a letter, billionaire investor Daniel Loeb said that his firm believes U.S. Steel will "complete a planned merger" with Nippon Steel on the basis of the industrial logic. Third Point's share was not previously disclosed. Investors are now trying to figure out the future of the merger. Loeb said Third Point also sees new opportunities for investment in credit markets which have been shaken by the reaction to Trump's policies. He had increased its...

Sumitomo Corp, a Japanese trading company, forecasted a record-breaking net profit of $4 billion for the current fiscal period and set aside financial buffers to protect against any negative effects of U.S. Tariffs. Sumitomo reported a net profit of 562 billion yen for the fiscal year ending in March. This was up 45.4% compared to a year ago and beat analysts' expectations, which were 554.2 billion. The strong performance in non-mineral resource segments, including real estate, is credited with this. Berkshire Hathaway, Warren Buffett’s company, is a major minority shareholder of Sumitomo, as well as other Japanese trading companies, such...

Officials have confirmed that more than a dozen senior business leaders, including CEOs, will visit the White House this Wednesday to highlight U.S. investment. A White House official confirmed a Bloomberg News article that President Donald Trump will promote investments in the United States for his first 100-days in office. These include defense, technology, healthcare, consumer products, and investment funds. Trump has tried to promote new investments in spite of concerns from major U.S. companies about new tariffs. Airline companies, automakers, and retailers are concerned about the impact that tariffs will have on U.S. sales and manufacturing. Some large companies...

U.S. Treasury Sec. Scott Bessent said on Sunday that he didn't support President Donald Trump in his assertion that tariff negotiations with China are underway and he didn't know if Xi Jinping, the Chinese president, had spoken to him. Last week, the Trump administration showed a willingness to deescalate tense trade relations between China and the United States that have sparked fears of recession. Trump has confirmed that talks are taking place on tariffs with China, and he and Xi spoke. Beijing denies that trade talks have taken place. Bessent is a key player for the U.S. in trade negotiations...

In an interview published Friday, U.S. president Donald Trump claimed that tariff negotiations with China were underway, but Beijing denied there were any talks taking place. This is the latest of a series conflicting signals about what progress has been made in de-escalating a trade battle threatening to sap growth globally. Trump told TIME that there were talks and that Chinese President Xi Jinping called him. He repeated this assertion to reporters on his way out of the White House to Rome, where he would attend the funeral for Pope Francis. China responded in a statement from its foreign ministry...

China exempted certain U.S. exports from its steep duties in a Friday sign that the trade conflict between the two world's largest economies may be easing. However, Beijing swiftly knocked back U.S. president Donald Trump's claim that negotiations were underway. Business groups claim that China has allowed certain U.S. pharmaceuticals to enter without the 125% duty Beijing imposed on imports of the U.S. earlier this month as a response to Trump’s 145% tariffs. A list of 131 categories of products that are allegedly being considered for exemptions is also circulating in some business and trade groups. The list includes chemicals,...

This week, gold discounts in India reached their highest level in nine years, as record prices discouraged buyers. Premiums in China also rose to an all-time high, leading to increased shipment to the largest bullion buyer in the world. This week, Indian dealers offered a discount The largest discount since July 2016 is up to $80 per ounce, including 6% import duties and 3% sales taxes. The discount last week was up to $74. Prices have increased and jewellery sales are down. Jewellers across the country feel the slowdown as shoppers are not buying the same amount of jewelry they...

A government source who is directly familiar with the situation said on Thursday that India expects steel imports to slow down after temporary tariffs are imposed this week. India, the second largest producer of crude iron and steel in the world, announced a temporary duty or safeguard provision of 12% on certain steel imports. This duty will last for 200 days. India's imports for finished steel products increased for the second consecutive year in fiscal 2025, with shipments reaching an all-time high. This trend has continued as shipments from China and South Korea have also been increasing. The government source...

U.S. Steel and Nippon Steel work closely with the Trump Administration "to secure an important investment", U.S. Steel announced on Thursday after President Donald Trump's remarks dimmed the hopes of a greenlight for the long-sought partnership between the two companies. Trump said that he didn't want U.S. Steel to "go to Japan." This sent its shares down by 7%, amid fears that his comments would signal renewed reservations regarding Nippon Steel's $14 billion offer for the 124 year-old American company. U.S. Steel stated that it was still positive about the agreement. The White House didn't immediately respond to comments. Nippon...

Parks Tau, Minister of Trade, Industry, and Competition, said that South Africa may offer additional incentives to carmakers to cushion the impact on automakers from President Donald Trump’s tariffs. Tau told radio station Power FM that they were currently looking at the possibility of extending the production plan for the automotive industry to be able mitigate the impact on our industry. We're modelling the potential package for the auto industry, but we are also looking at other sectors to see if it is possible within the limits of the country. The Automotive Production and Development Programme (APDP) is a programme...