Monday 22 January 2018

Japanese big in China

TOYOTA and Honda reported record sales in China last year as they recovered from 2012 -- when a territorial dispute led to a backlash against Japanese brands in the world's biggest car market.

Toyota's deliveries in China rose 9.2pc to 917,500 in 2013, while Tokyo-based Honda's sales rose 26pc to 756,882 vehicles, the companies said in statements yesterday. While political disputes between Asia's two-largest economies resurfaced last year, Japanese automakers avoided the type of economic fallout they saw in 2012, when diplomatic tensions led to violent protests and a boycott of Japanese products.

NEW BLACKBERRY ROLE

STRUGGLING smartphone maker BlackBerry has hired a former Sony Ericsson executive to head its loss-making devices business, a job needing a heavy dose of salesmanship to win back companies and consumers lured away by larger rivals.

Ron Louks took the position of president of devices and emerging solutions, BlackBerry said in a statement yesterday.

SERVICE INDUSTRY DIP

SERVICE industries in the US expanded at a slower pace than forecast in December as orders contracted for the first time since 2009, showing uneven progress in the biggest part of the economy.

The Institute for Supply Management's non-manufacturing index decreased to a six-month low of 53 in December from 53.9 in the prior month, a report from the Tempe, Arizona, group showed.

REFINANCE CHALLENGE

THE world's biggest economies will need to refinance $7.43trn (€5.4trn) of sovereign debt in 2014 as bond yields begin to climb from record lows, threatening to raise borrowing costs while nations struggle to bring down elevated budget deficits.

The amount of bills, notes and bonds coming due for the Group of Seven nations plus Brazil, Russia, India and China is little changed from 2013 after dropping from $7.6trn in 2012, according to data compiled by Bloomberg.

LAW FIRM'S IRISH ROLE

INTERNATIONAL law firm Maples and Calder has been ranked by Monterey Insight as the number one provider of legal services to Irish funds, in terms of the total number of funds advised, for the first six months of last year.

Monterey is an independent fund industry research company that provides the independent survey of service providers for all investment funds serviced in Ireland, Luxembourg, Jersey and Guernsey.

Irish Independent

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