January 26, 2020

Olympus Chairman Resigns Over Scandal

TOKYO (Reuters) – Japan’s scandal-hit Olympus Corp said its chairman and president Tsuyoshi Kikukawa has stepped down due to a series of media reports on the company’s problems and a plunge in its share price.

Shuichi Takayama, a managing director of the company, was appointed to replace him as president.

Kikukawa had taken over as Olympus’s chief executive after the company abruptly fired its British CEO, Michael Woodford, on Oct 14.

Shares of the camera and endoscope maker fell 7.6 percent on Wednesday and have lost more than half their value since Woodford was sacked.

The company is scheduled to hold a news conference at 1730 JST (09:30 BST).

(Reporting by Chikafumi Hodo; Editing by Edmund Klamann)

Article source: http://feeds.nytimes.com/click.phdo?i=cc96f8a4a1286593ae2e5f3fc22fe82c

Business Briefing | COMPANY EARNINGS: McDonald’s Sales Rise but Fall Short of Forecasts

McDonald’s reported a lower-than-expected rise in worldwide August sales at established restaurants, citing a steep drop in Japan and a lull in new product introductions in the United States. McDonald’s said sales at restaurants open at least 13 months rose 3.5 percent globally. Analysts surveyed by Thomson Reuters were looking for an increase of 4.3 percent. Same-restaurant sales rose 3.9 percent in the United States, just shy of analysts’ 4.0 percent expectation. In Europe, the company reported an increase of 2.7 percent, missing analysts’ estimate of a 4.7 percent increase. McDonald’s reported a 0.3 percent decline in Asia/Pacific, the Middle East and Africa, while Wall Street had forecast a rise of 3.5 percent.

Article source: http://feeds.nytimes.com/click.phdo?i=a1fb9605e7475c346dbff69693e14bdd

Business Briefing | Regulatory News: Japan Looks at Raising Fuel Economy

Opinion »

Flying? Increasingly for the Birds

Dick Cavett on airport security — the good, the bad and the ugly.

Article source: http://feeds.nytimes.com/click.phdo?i=92f250675148facfc47e4af02b40ac6b

Mutual Funds Report: Second Quarter


This Time, Japan’s Gloom Runs Deeper

Japan’s earthquake, tsunami and nuclear crisis have made the clouds over its economy darker than usual — and any silver lining harder to find.

Article source: http://feeds.nytimes.com/click.phdo?i=37d5546ce532edd84fc49e700fc71244

Japan Plans to Unlink Nuclear Agency From Government

Opinion »

Fixes: In Iran, a Brotherhood of Doctors and Patients

Two brothers pioneered a needle exchange program to improve the health of others, even in prison.

Article source: http://feeds.nytimes.com/click.phdo?i=e63dcff46c0f7fe6f40ef205764f9f55

Japan Plans Nuclear Regulatory Reform

Opinion »

Fixes: In Iran, a Brotherhood of Doctors and Patients

Two brothers pioneered a needle exchange program to improve the health of others, even in prison.

Article source: http://feeds.nytimes.com/click.phdo?i=e63dcff46c0f7fe6f40ef205764f9f55

Japan’s Central Bank Keeps Key Rate at Near Zero

Opinion »

Fixes: Publishers as Partners in Literacy

A program, which makes books affordable for poor children, helps in ways that libraries and book bins can’t.

Article source: http://feeds.nytimes.com/click.phdo?i=43569a2736f237def359ca22b87861be