December 19, 1998 |
General Motors Corp. said Friday it will increase its control of struggling Japanese truck and diesel engine maker Isuzu Motors, a move that illustrates both the quickening pace of the auto industry's global consolidation and uncertain times in the Japanese industry. GM, the world's largest auto maker, will raise its ownership of Isuzu to 49% from 37.5% with an investment of $456 million.
September 18, 1998 |
Amid worrisome news that several prominent Japanese high-tech companies are beating a retreat from U.S. shores, Japan's largest trading company said Thursday that it is joining Atlantic Richfield Co. in a $200-million project to build the West Coast's first polypropylene plant in Carson. Other Japanese trading firms are expected to follow Itochu Corp. into the United States even as they shut down projects at home and in hard-hit Southeast Asia, according to Arco officials and others.
July 14, 1998 |
U.S. investors hoping that Japan's election surprise on Sunday would be a watershed for Asia's battered financial markets came away disappointed on Monday. While stocks rallied 1.7% in Tokyo, they fell in most other Asian markets. But the yen didn't collapse, as some experts predicted. And on Wall Street, stocks closed mixed in mostly dull trading--suggesting confusion rather than worry or relief. In trading early today, most Asian markets rose modestly, while the yen was stable at about 141.
March 17, 1998 |
Miki Nakamura returned last month from a trip to Japan and, despite what the country's poor economy might suggest, it's still an opportune time for U.S. companies to develop business relationships in the region, she said. "Because the economy is bad, people tend to save their money more, but that doesn't mean they won't buy anything," said Nakamura, director of the USA-Japan Trade Expansion Center in Pensacola, Fla. "There's a change of lifestyle there.
November 26, 1997 |
For Americans, the main point to keep in mind about Asia's deepening financial crisis is that it couldn't have come at a better time. In a way, the United States is lucky. Privately, Clinton administration officials tell themselves that things could be worse--much worse. Why? Because the Nightmare Scenario that has haunted Washington over the last decade doesn't seem nearly so scary as it once was. The worrisome story line went like this: Japan suddenly stops buying U.S.
February 8, 1997 |
The Japanese lender that controls Pebble Beach has held recent negotiations to sell the legendary seaside golf resort to an American development group for at least $500 million, said a leading Japanese real estate specialist on Friday.