Dollar sinks to 114 yen level in New York
January 6, 2006The U.S. dollar fell to a two-and-a-half-month low against the yen on Friday in New York after the release of a smaller-than-expected rise in U.S. nonfarm jobs in December earlier in the day. At 5 p.m., the dollar was quoted at 114.40-50 yen, down from the Friday's 5 p.m. quote of 116.08-11 yen in Tokyo. It fell as low as 114.22 yen at one point, the lowest level since mid-October.
Dow closes at highest level since 2001
January 6, 2006The Dow ended at its highest level since June 2001 on Friday, bolstered by speculation that the Federal Reserve Board's credit tightening will end soon as well as expectations for strong earnings at major U.S. companies. The Dow Jones Industrial Average gained 77.16 points, or 0.71 percent, to end at 10,959.31.
Matsushita to build world's biggest plasma panel plant
January 6, 2006Matsushita Electric Industrial Co. will build the world's largest plasma panel factory in terms of production capacity in Amagasaki, Hyogo Prefecture, to meet surging demand for flat-panel televisions, company officials said Saturday. The new plant, which will go on line in the summer of 2007, will eventually have an annual output capacity of 6 million panels, they said. Construction is expected to start this summer.
Japan, China to hold informal talks Monday in Beijing
January 6, 2006Japan and China are scheduled to hold informal talks Monday in Beijing to discuss various issues involving their countries, particularly a dispute over gas development in the East China Sea, Japan's Foreign Ministry said Friday. Japan will be represented by Asian and Oceanian Affairs Bureau Director General Kenichiro Sasae and China by Cui Tiankai, who heads the Chinese Foreign Ministry's Asian Affairs Department.