Japanese Uber Eats delivery staff offend workers …

Japanese Uber Eats delivery staff offend workers …


On Friday, the Labor Policy Council of the Ministry of Labor approved a proposal to allow bicycle-based delivery staff on Uber Eats and similar service platforms to participate in workers’ accident compensation insurance programs under a special compensation system.

The insurance program covers the medical costs of those injured at work and leaves compensation.

Such workers and freelance information technology engineers will be able to participate in insurance programs under a special system from September after the ministry amends relevant ordinances.

According to the Japan Food Delivery Association, there are about 90,000 bicycle delivery staff in Japan. Delivery workers who work as sole proprietors may not be fully compensated if they are involved in an accident such as a traffic accident during work.

Starting in September, these workers will be able to take out accident compensation insurance after applying and paying their premiums.

Regarding criticisms of poor driving by some delivery personnel, officials from the association said at a meeting of a subgroup of the ministry council on Friday that they plan to raise the safety awareness of delivery personnel through related seminars.

There are about 200,000 freelance IT engineers in the country, and some are suffering from mental illness, complaining of stress from long working hours and other health problems.

The meeting also revealed plans that scooters using scooters who are allowed to participate in insurance programs under special compensation schemes based on relevant notices should be able to participate under the revised Ministerial Ordinance. Was made.

Worker insurance is for employers, but due to a special system, it also covers those who work without belonging to a specific organization.

In general, the government is strengthening the protection of freelancers. In April, actors, animators and judo therapists were added to the list of people who can enroll in a worker insurance program under special compensation schemes.

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The dollar has fallen to around 110 yen in Tokyo

The dollar has fallen to around 110 yen in Tokyo


The dollar fell to about 110.00 yen in a transaction in Tokyo on Friday following the fall in US interest rates.

The dollar at 5 pm fell from 110.59 yen on Thursday to 110.00 yen. The euro went from $ 1.1954 to $ 1.1915 and from 132.20 to 131.07.

The dollar moved weakly around 110.20 yen in the morning against the backdrop of falling long-term interest rates in the United States.

According to Japanese bankers, the greenback fell to about 110.00 yen in the afternoon, and the yen’s appreciation against the euro in short-term buying weighed heavily.

The· Nikkei Stock Average falls The dollar sale was also fueled.

The Bank of Japan’s decision to maintain Friday’s large-scale easing policy had little impact on the dollar-yen pair, a securities firm official said.

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The dollar has fallen to around 110 yen in Tokyo

Nikkei erases profits as the Fed continues to tighten …


Benchmark Nikkei 225 stocks wiped out previous rises to end on Friday with a slight decline as concerns remain strong about US monetary policymakers’ new hawkish forecasts.

The Nikkei average of the 225 selected issues listed in the first section of the Tokyo Stock Exchange fell 54.25 points (0.19%) to 28,964.08, abandoning 272.68 points on Thursday and extending its losing streak to three days. did. The major market gauge closed below 29,000 for the first time since June 11.

The Topix index for all first section issues closed at 1,946.56, down 17.01 points (0.87%), following a 12.29 point drop the previous day.

The Nikkei performed well in the morning thanks to aggressive buying of component technology issues driven by the rebound in the high-tech Nasdaq Composite Index in the US market on Thursday, driven by lower long-term interest rates.

Meanwhile, lower US interest rates have led to the sale of financial stocks that Topix is ​​vulnerable to, such as banking groups.

But tech buying isn’t strong enough to drive Nikkei further north, the Federal Reserve Board of Governors has begun negotiations to reduce quantitative easing, and the Federal Open Market Committee has proposed a faster-than-expected rate hike. By doing so, sentiment remained weak. Meeting until Wednesday.

Stocks also faced selling to square positions and fixing profits ahead of the weekend, pushing Nikkei down to near the closing price the day before the afternoon.

According to brokers, the Bank of Japan’s announcement on Friday that the central bank would continue its easing policy had little impact on the market.

“Some players have stepped up their sales as long-term US interest rates have stopped rising as a sign that the US economic recovery is nearing its end,” said Kazuo Kamiya, a strategist at Nomura Securities.

Masahiro Kamiya, chief market strategist at Sumitomo Mitsui DS Asset Management, pointed out that economically sensitive circular stocks sold as significantly as the day before.

In the first section of the TSE, the 83 issues remained unchanged, but the decliners outnumbered the winners from 1,570 to 540.

In terms of deficit finance, insurer Dai-ichi Life plunged 5.68% and banking group Sumitomo Mitsui Banking Corporation fell 2.57%.

Shipping company NYK and steelmaker JFE fell 7.69% and 4.67%, respectively, during periodic sales.

Exporters such as automakers withdrew as the dollar fell against the yen.

Meanwhile, popular semiconductor-related issues include silicon wafer maker Shin-Etsu Chemical up 1.48% and passive component maker Taiyo Yuden up 1.45%.

Eisai surged 5.92% after announcing an exclusive partnership agreement with US pharmaceutical company Bristol Myers Squibb for antineoplastic drugs from a Japanese drug company.

In index futures trading on the Osaka Exchange, the Nikkei 225 September major contract fell 70 points to close at 28,930.

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The Bank of Japan is taking a new step on climate and expanding its COV …

The Bank of Japan is taking a new step on climate and expanding its COV …


The Bank of Japan has spared major policy measures and has surprised investors by adding measures to other central banks to help mitigate climate change.

With Friday’s decision, the Bank of Japan was also able to postpone the expiration of its pandemic lending measures by six months and spend more time on Japan’s vaccine drive. The move was expected by most economists and was seen as a tweak around the margins of the policy toolkits that are mostly used.

Haruhiko Kuroda funded climate-friendly companies for bank lending after suggesting in an interview last month that central banks may be looking at ways to help fight global warming. A new initiative to offer begins.

The move also follows the Bank of England’s announcement last month, shifting corporate bond purchases to the companies most focused on combating climate change under new missions, including environmental sustainability. ..

European Central Bank Governor Christine Lagarde has also expressed support for the European Union’s efforts towards a transition to a green economy.

“The Bank of Japan has shown its willingness to address climate change issues,” said Takeshi Minami, an economist at the Norinchukin Research Institute. “As private sectors begin to take action, they are following global trends, which is different from monetary easing.”

Friday’s decision brings the Bank of Japan closer to some of its climate peers, even if monetary policy is moving in a different direction.

The Bank of Japan supported negative interest rates and asset purchase plans, while the Federal Reserve Board of Governors, the Australian Reserve Bank, and other central banks were approaching stimulus restraints.

Kuroda and colleagues remain cautious for the foreseeable future, given Japan’s stubborn slump in inflation as the world resumes from a pandemic, in contrast to the rise in prices seen elsewhere. Probability is high.

Another report on Friday showed that Japan’s price hike was just approaching a positive territory in May, despite soaring gasoline prices.

Kyohei Morita, an economist at Credit Aglycol Securities Asia BV, said, “We hope they will take advantage of this climate change effort to stay alert from the failure of inflation.” Stated. “This doesn’t bring them closer to their distant price target, and they probably know it.”

“The Bank of Japan is missing out on opportunities. The faster-than-expected extension of COVID-related support programs shows its determination to keep props under the economy,” said Yuki Masushima, an economist at Bloomberg Economics. It was. “The new climate-related financing program also shows that it seeks to manage long-term risks affecting post-COVID policy approaches.”

The Bank of Japan said it will begin operating a new climate change facility later this year and will provide details at next month’s meeting.

“Banks believe that supporting the private sector’s efforts to address the issue from a central bank’s perspective will help stabilize the macro economy in the long run,” he said in a statement.

The Bank of Japan’s new program may help Prime Minister Yoshihide Suga get a little closer to his ambitious goal of becoming carbon-neutral by the middle of the century, while some globals feel that the environment should remain. It can also lead to criticism from central bankers. For government policy.

“Everyone expected the Bank of Japan to do something about climate change at some point, but the announcement in June was earlier than expected,” said Yoshimasa Maruyama, an economist at SMBC Nikko Securities. “They revealed that their stance on climate change is a bit closer to the ECB than the Fed.”

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Toshiba’s largest shareholder, Effissimo, wants to change afterwards …

Toshiba’s largest shareholder, Effissimo, wants to change afterwards …


Toshiba’s largest shareholder, Effissimo Capital Management Pte, told group management Thursday after an independent investigation found that a Japanese conglomerate had colluded with the government for influencing foreign activist investors. Called for improved “defective” governance.

Effissimo, a Singapore-based activist fund, said the corporation’s foundation itself was in jeopardy in its first official statement since lawyers concluded earlier this month that Toshiba’s shareholders’ meeting was not fair. Said that he sounded a warning bell.

When this year’s shareholders’ meeting was held on June 25, Effissimo decided to remove two outside directors from the list of candidates awaiting shareholder approval, but the current Toshiba board of directors Was accused of being “invalid”.

The research report “provides a calm insight into dysfunctional corporate governance,” Effissimo, which holds a 10% stake in Toshiba, said in a statement.

According to the survey, Toshiba sought assistance from the Japanese Ministry of Industry prior to the July 2020 shareholders’ meeting to block proposals from activist shareholders, including Effissimo.

Since Toshiba is involved in national defense and nuclear power, it is considered important for national security, so the government tried to use a law that could restrain foreign investors. Effissimo was found.

Following the announcement of the findings on June 10th, Toshiba will change the slate of candidates for board and drop two current members on its audit committee. The company’s own research concluded that last year’s shareholders were okay. ‘Meeting.

Toshiba, commonly known as Toshiba, acknowledged that efforts to rely on foreign investors with government support are problematic in terms of governance and compliance.

Nevertheless, Chairman Osamu Nagayama opposes the call for resignation from some investors, saying that rebuilding the board of directors is a priority.

Effissimo said the removal of only two candidates indicates that Toshiba does not want to hold board members accountable.

“This latest follow-up only adds to Toshiba’s list of outstanding governance and compliance shortcomings that Toshiba’s board of directors will not continue to remedy. Therefore, the current board of directors believes it will be ineffective. “We will continue to be” constructively “involved with Toshiba,” Effissimo said.

Toshiba plans to identify the root cause of the incident with the participation of a third party, but the Ministry of Economy, Trade and Industry has so far denied the possibility of conducting its own investigation.

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Ship delays worse than China’s Suez are set to expand trade …

Ship delays worse than China’s Suez are set to expand trade …


The global shipping industry is already exhausted by inflationary pressures and a pandemic shock that is increasing delays in delivery, and faces the greatest challenges of its stamina.

One of China’s busiest ports was put back into operation a few days later when it announced in late May that it would not accept new export containers due to the outbreak of COVID-19. But as the partial closure prolongs, it makes trade routes even more groaning and raises record fares even higher.

Yantian Port currently states that it will return to normal by the end of June, as it took weeks for the vessel’s schedule and supply chain to recover from the vessels blocking the Suez Canal in March. Southern China clears while fallout spreads to ports around the world.

“This trend is a concern and constant congestion is becoming a global issue,” AP Maersk A / S, the world’s number one container ship, said in a statement Thursday.

Flexport Inc. According to Nerijus Poskus, Vice President of Marine Strategy and Carrier Development, the situation in southern China is another situation “in a series of disasters that plague the global supply chain.” Supply chain.

He estimates that it will take six to eight weeks for the salt pans to clear up.

This schedule is a problem as retailers and other importers replenish their warehouses prior to the New Year’s shopping rush, as it exacerbates the turmoil during the late summer period of peak demand from the United States and Europe.

Usually cheap and invisible to businesses and consumers, more expensive sea freight poses a double-edged threat to the global economy by acting as both a stumbling block to commerce and a potential booster of inflation. It has become. In the United States on Wednesday, Fed policymakers raised inflation expectations, partly because supply wasn’t keeping up with demand, creating a bottleneck.

Drewry Shipping data released Thursday shows disappointment as container prices on several routes continue to rise, including a price increase to $ 11,196 for a 40-foot (12-meter) box from Shanghai to Rotterdam, the Netherlands. There wasn’t. This is about a seven-fold increase over a year ago.

Diverted ship

China’s port conditions are improving, but there is still an average of 16 days waiting on Wednesday, according to a statement separate from Copenhagen-based Maersk, which diverts most ships elsewhere in June. I had time.

However, rerouting by Maersk and other companies will only increase congestion and delays at nearby ports, the statement said.

IM-EX Global Inc. According to Steve Kranig, director of logistics at the United States, some retailers in the United States have told customers looking to buy new furniture made in China that even if they order now, it can take up to 10 months to deliver. I’m starting to notify you. He said the congestion at the ports in Guangzhou and Shenzhen has also affected Southeast Asian assemblers who import raw materials to make armchairs and tables for export to the United States.

“Soon they will be competing with the cargo for the upcoming Christmas season, so I think there will be more delays. With very low inventory, we strive to help large retailers sell their products in time for the holidays. We look forward to launching it, “says Cranig.

The turmoil at Yantian Port could have affected approximately one million 20-foot (6-meter) containers so far. | Reuters

Even without Suez blockages and port delinquency, the world’s transportation system probably suffers from maximum capacity. Exports from China and other Asian countries are at record highs, the US and European economies are reopening, and other markets such as India are buying medicines to support the ongoing outbreak.

China’s trade boom shows no signs of giving up, with May’s third-largest exports and usually in the third and fourth quarters, the largest periods of trade for a particular year.

“In the second half of 2021, there are still many issues that pose challenges to world trade and logistics activities,” said Nick Malo, chief analyst for global trade at the Economist Intelligence Unit in Hong Kong. “The biggest risk is the recurrence of COVID-19, which may seem unavoidable due to new variants, but this includes inconsistencies in supply and demand for container space and major western ports. Also includes existing logistic bottlenecks in. “

Some of the products that could not leave China via the salt pans were diverted to other nearby terminals, such as the terminal operated by Guangzhou Port. The congestion was significantly reduced, but the workers who gave only the family caused regular delays there Hayashi’s name said Thursday.

Still, it’s not enough to make up for the turmoil in the salt pans, which could have affected about one million 20-foot containers so far, according to Bimco’s chief shipping analyst Peter Sand. Shioda processes about 13 million annually.

“Adding another mess to the current emergency clearly makes the growing supply chain even more vulnerable,” he said.

Anchor line

According to Bloomberg’s ship data analysis, there are currently 139 container ships moored off the coast of China, about 50% more than the average from mid-April to early May.

Some products have completely stopped shipping. Chong Junxiong owns a clothing company called Genesis Group Pte. In Singapore, outsourced production to a manufacturer in Dongguan near Shenzhen. COVID-19 not only closed the supplier, but also stopped shipping, so we were unable to receive the delivery.

“The outbreak of COVID has bottlenecks in ports around the world. People don’t work as many or as fast as they did before the pandemic,” said Bjorn Hojgaard, CEO of Anglo-. .. Eastern Univan Group is a company that manages the operation of a fleet of 700 ships worldwide, from tankers to bulk carriers and container ships.

“It will take longer than expected to recover shipments a few months ago, but in the fourth quarter of 2021 and the first quarter of 2022, many parts of the global economy will resume activity. I hope that, and certainly, it is the normalization of some of the challenges we face in transportation. “

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