Nippon Steel to Offer $5,000 Bonus to US Steel Employees If Takeover Succeeds

Local media in the United States reported that President Joe Biden plans to block Nippon Steel's acquisition of US Steel, citing national security concerns. Following this report, Nippon Steel announced that it would provide a one-time bonus to US Steel employees if the acquisition is completed.

Nippon Life Insurance says it will acquire Resolution Life Group Holdings for 8.2 billion dollars. It's the largest takeover by a Japanese insurer. Bermuda-based Resolution runs insurance businesses globally, including the US, Europe and Australia. (NHK)

The company operating the major medical hair removal chain Alicia Clinic has been declared bankrupt by the court.

The Cabinet Office announced the revised GDP figures for the July-September period of 2024, showing a 0.3% increase in real terms compared to the previous three months. On an annualized basis, the growth rate was adjusted upward to 1.2%, from the initial estimate of 0.9%.

A luxury real estate expo, one of the largest in Asia, has begun in Shanghai, drawing significant attention to Japanese properties such as tower apartments from wealthy buyers.

Last week, the Nikkei Stock Average extended its gains for four consecutive days from the start of the week, briefly surpassing the 39,600-yen mark, demonstrating steady progress.

Winter bonuses in Japan this year are largely unchanged from last year, with a growing number of companies reporting no increase in average payouts.

Thousands of users of the popular messaging app LINE experienced a privacy breach, with private photos saved in the app’s album feature being inadvertently displayed to strangers. Approximately 135,000 people were affected by the incident.