Bank of Montreal’s capital reserves will increase in the fourth quarter following a legal victory related to its involvement in a multi-billion-dollar Ponzi scheme in Minnesota.

Bank of Montreal missed analysts’ estimates due to setting aside more money than expected for potentially bad loans, which negatively impacted its U.S. operations and led to a downgrade and a slump in shares.

Markets anticipate the Bank of Canada will implement interest rate cuts at its remaining decisions this year due to a faster-than-expected loosening of the U.S. labor market.

BNN Bloomberg has launched a new and improved digital experience, enhancing its commitment to providing up-to-date investor and business news, market data, and exclusive analysis for its audience.

Nippon Steel Corp.'s new president, Tadashi Imai, is committed to the $14.1 billion acquisition of United States Steel Corp., emphasizing the deal's importance for enhancing US Steel's competitiveness. Imai, who replaced Eiji Hashimoto as president, highlighted Nippon Steel's technological edge and patent portfolio in North America. The acquisition faces political scrutiny from President Joe Biden, who prefers US Steel to remain domestically owned. Biden's stance aligns with the United Steelworkers union and could affect US-Japan relations. A summit on April 10 between Biden and Japan's Prime Minister Fumio Kishida, followed by a US Steel shareholder meeting, will be pivotal for the deal's future.

Nippon Steel's new president, Tadashi Imai, is committed to the $14.1 billion acquisition of US Steel, emphasizing the technological benefits and competitive edge it will bring to the American company. The deal faces political challenges, with President Joe Biden advocating for domestic ownership. Key stakeholders, including the United Steelworkers union and US Steel shareholders, are crucial to the negotiation process. The acquisition aims to leverage Nippon Steel's advanced technology and extensive patents to strengthen US Steel's market position.

Nippon Steel is committed to acquiring U.S. Steel for $14.1 billion, emphasizing its technological capabilities and extensive patents. The Tokyo-based company's president, Tadashi Imai, highlighted the unique high-end steel production technology Nippon Steel can offer. The acquisition faces political challenges, with President Joe Biden advocating for U.S. Steel to remain domestically owned, aligning with the United Steelworkers union ahead of the upcoming presidential election. Key meetings involving Biden and Japan's Prime Minister Fumio Kishida, as well as U.S. Steel's shareholders, are scheduled for early April to discuss the deal's future.

Kobayashi Pharmaceutical Co. is recalling health supplement products containing red yeast after they were linked to five deaths and 114 hospitalizations. The company will spend over 1.8 billion yen on the recall and compensate affected consumers. The recall has also impacted other companies, including FamilyMart and DHC, and has affected people outside Japan. The company is investigating the presence of puberulic acid in the products and expanding its customer service lines to handle inquiries.

In 2024, the author and their family embarked on an 8-day journey to Italy, fulfilling a promise to their son. They traveled from Rome to Florence, using Florence as a base to explore nearby cities like Siena, San Gimignano, and Pisa. The trip included visits to historical sites in Rome, such as the Imperial Fora, where they participated in a walking tour to learn about the area's history.

Relocating to San Francisco in 2019 due to the acquisition of their company by Twitter, Grace Huang and her family faced significant challenges. The move, initially seen as a positive step, turned into a difficult year, especially for their children. The process of enrolling their kids in the San Francisco Unified School District proved to be extremely challenging, contrasting with their previous experiences in Seattle.

Nippon Steel Corp. has justified the 142% premium it's paying for United States Steel Corp., aiming to become a global steel production leader and counter a weak domestic market. The $14.1 billion all-cash acquisition was unexpected, as Nippon Steel was not previously seen as a front runner. The deal, which creates the world's second-largest steel producer, is seen as a bet on US demand growth, potentially fueled by infrastructure spending and clean-tech manufacturing. However, it raises financial and execution risks, and could lead to a stretched balance sheet or require a capital raise. The acquisition has political and labor implications, with US senators and the United Steelworkers union expressing concerns. Nippon Steel aims to honor existing commitments and engage in dialogue with the union. The deal also aligns with Nippon Steel's net-zero emissions by 2050 goal and its interest in green steel technology.

A mother recounts her 9-year-old daughter's experience at a gymnastic meet in September 2023, focusing on the challenges faced during the floor routine, particularly with the back handspring. The narrative highlights the emotional and physical pressures of performing difficult gymnastic skills.

Suntory Spirits is set to increase its output by 2027 following a ¥10 billion renovation of its Yamazaki and Hakushu distilleries to meet the surging global demand for Japanese whisky. The company has already invested over ¥60 billion in the past decade to enhance production capacity, including the expansion of storage facilities. Nobuhiro Torii, the great-grandson of Suntory's founder, indicated that the benefits of the increased capacity would be realized around 2027 due to the maturation time required for whisky.

Denso Corp. fuel pumps have been implicated in the recall of millions of vehicles worldwide due to engine part issues. Approximately 2.7 million vehicles in Japan and over 10 million internationally, including those from Toyota Motor Corp. and Honda Motor Co., have been recalled since 2020. The defect could potentially cause engines to stall while driving.

Global demand for liquefied natural gas (LNG) is expected to outpace current supply projects, according to Kenichi Hori, president of Mitsui & Co. Hori emphasized the long-term role of gas in the energy transition, echoing sentiments from major exporters like Chevron and Shell. The competition for LNG has intensified post-Russia's invasion of Ukraine, with Europe and emerging nations seeking long-term deals. Mitsui is diversifying its energy portfolio, investing in renewable energy, ammonia, hydrogen, and e-methanol projects. Ensuring diverse supply sources is crucial for Japan's energy security, with significant projects in the US, Middle East, and Africa.

Grace Huang discusses the optimization of the 4% rule for Safe Withdrawal Rates (SWR) in retirement portfolios, questioning whether annual or quarterly withdrawals yield a better SWR. The article proposes that quarterly withdrawals may allow more of the portfolio to remain invested and compound, potentially leading to a better SWR. Huang's book 'Optimizing the 4% Rule' is available on Amazon and covers various aspects of financial independence portfolio design.

Seven & i Holdings Co. experienced its largest intraday stock decline in over two years after its full-year profit forecast fell short of analyst estimates. The company is considering strategic options following pressure from activist fund ValueAct Capital Management LP to abandon its conglomerate structure. The stock fell as much as 7.5% in Tokyo trading, while the benchmark Topix Index saw a modest rise.

Investors in Japan's trading houses are set to question executives on their plans for closer collaboration with Warren Buffett, whose company, Berkshire Hathaway Inc., has increased its stakes in these firms. The meetings will address topics such as Buffett's future investment plans, surging share prices, continued investments in Russia, and the push for more female representation in senior management. The trading houses, including Mitsubishi Corp., Itochu Corp., Marubeni Corp., Mitsui & Co., and Sumitomo Corp., are expected to provide insights into their strategies and responses to these key issues.

Kobayashi Pharmaceutical Co. is set to spend over $12 million on a recall of health supplements containing red yeast, linked to five deaths and 114 hospitalizations. The company will compensate affected consumers and is investigating the presence of the poisonous substance puberulic acid in the products. The recall has impacted other companies, including FamilyMart and DHC, and has affected consumers outside Japan, such as in Taiwan. Kobayashi's stock has dropped 16% since the recall announcement.

Investors in Japan's trading houses are set to question executives on their plans for closer collaboration with Warren Buffett, whose company, Berkshire Hathaway, has increased its stakes in these firms. Key topics include the potential for higher stakes by Buffett, surging share prices, continued investments in Russia amidst potential sanctions, and the push for more female representation in senior management. The meetings provide a rare opportunity for shareholders to engage directly with top executives and vote on measures.

Japanese trading houses favored by Warren Buffett posted strong earnings last quarter despite a drop in commodity prices and China's disappointing economic rebound. The five major trading firms—Mitsubishi Corp., Mitsui & Co., Sumitomo Corp., Marubeni Corp., and Itochu Corp.—all exceeded net-income estimates for the first quarter of Japan's fiscal year. Mitsubishi and Mitsui are considering additional shareholder returns, while Itochu plans a share buyback. The results contrast with energy majors like Exxon Mobil and Shell, which missed estimates due to falling gas prices and weak oil-refining margins. The trading houses' diverse portfolios, including convenience stores and salmon farming, contributed to their strong performance.

Nippon Steel Corp. is defending its 142% premium acquisition of United States Steel Corp. for $14.1 billion, aiming to strengthen its global position amid a weak domestic market. The deal, which makes Nippon Steel the world's second-largest steel producer, is seen as a strategic move to capitalize on rising US infrastructure spending. However, it poses financial risks and may require a capital raise. The acquisition has drawn opposition from US senators and concerns from the United Steelworkers union. Analysts highlight both the potential benefits and risks, including the impact on Nippon Steel's balance sheet and the broader steel industry's shift towards green technology.

Warren Buffett's recent visit to Tokyo saw him meeting with executives from Japan's top trading houses at the Four Seasons Hotel. The discussions centered on the firms' strategic pivot away from fossil fuels and towards more diversified investments. Buffett's Berkshire Hathaway, which has significant stakes in these companies, stands to benefit from both the firms' diversification and any potential recovery in commodity prices. The meetings underscored Buffett's confidence in Japan's economic potential and the trading houses' future growth. Executives left the meetings optimistic about future collaborations.

ValueAct Capital Management LP has expressed doubts about the independence and effectiveness of Seven & i Holdings Co.'s strategic review. The activist investor has called for the Tokyo-based retailer to respond to its questions and urged the company to pursue bold structural reforms with urgency. ValueAct is pushing for Seven & i to narrow its business focus to improve its valuation.

The article discusses four innovative home designs aimed at enhancing climate resiliency. It highlights a floating house by Ichijo Co. in Japan, a heat-regulating house by Colorado Earth in Castle Rock, Colorado, a hurricane-resistant home by Deltec Homes in North Carolina, and a fire-resistant home in Paradise, California, built using guidelines from the Insurance Institute for Business and Home Safety (IBHS). These designs address various climate threats such as floods, heatwaves, hurricanes, and wildfires, and are becoming increasingly important as climate impacts drive up home insurance premiums.

Welcia Holdings Co., Japan’s largest drugstore chain, is significantly increasing its duty-free counters in anticipation of the return of Chinese group tours, planning to expand from 260 to 1,000 stores. This move follows China easing its ban on group tours, which is expected to boost Japan’s economy by ¥200 billion. However, there are concerns about whether Chinese tourists will return in large numbers due to economic uncertainties. Other companies like Isetan Mitsukoshi Holdings Ltd. and Tsuruha Holdings Inc. are also preparing for potential increases in tourists, with the latter expressing concerns about staffing. The total number of foreign visitors to Japan is recovering, though Chinese visitor numbers remain below pre-pandemic levels.

The article discusses the benefits and considerations of investing in 401(k) and Roth IRA retirement accounts, emphasizing the importance of understanding investment options. The author shares personal experiences and highlights survey data from CNBC Your Money, revealing that many employees are unaware of their retirement plan investments. The text promotes the author's book, 'Optimizing the 4% Rule,' as a resource for financial independence.

Global demand for liquefied natural gas (LNG) is expected to exceed current supply projections, posing challenges for the energy transition. Kenichi Hori, president of Mitsui & Co., emphasized the need for diverse supply sources and highlighted the company's investments in renewable energy and other low-carbon initiatives. The competition for LNG has intensified due to geopolitical tensions, particularly following Russia's invasion of Ukraine. Mitsui is exploring various energy pathways, including renewable energy, ammonia, hydrogen, and e-methanol, to transition to a low-carbon future.

Global demand for liquefied natural gas (LNG) is expected to outpace current supply projects, according to Kenichi Hori, president of Mitsui & Co. Hori emphasized the long-term role of gas in the energy transition, especially in light of intensified competition for LNG following Russia's invasion of Ukraine. Mitsui is diversifying its energy portfolio with investments in renewable energy, ammonia, and hydrogen, alongside traditional fossil fuels. The company is also focusing on increasing female representation in its global management. Hori highlighted the importance of diversifying supply sources for Japan's energy security, mentioning projects in the US, Middle East, and Africa.

Kyoto, once the capital of Japan for over a thousand years, is rich in history and cultural heritage. The city offers a unique blend of historical significance and modern tourism, with many visitors donning traditional kimonos. The author highlights the informative and enjoyable experience provided by a tour guide from Localized Japan, which enhanced their understanding of the city's history and culture.

In early 2023, the U.S. financial system faced turmoil due to the sudden collapse of Silicon Valley Bank, leading to widespread panic and a stock market decline. The Federal Reserve's intervention to protect depositors sparked mixed reactions, with some viewing it as necessary and others as overreach. The article also explores historical instances like the Panic of 1907 and the Great Depression when the Fed did not intervene, highlighting the consequences of such inaction.

Sogo & Seibu's labor union plans to strike if Seven & i Holdings proceeds with the sale of the department store unit to Fortress Investment Group. Employees will stop working unless the Tokyo-based retail giant cancels a board meeting scheduled for August 31 to finalize the sale. Labor union officials are set to meet with Seven & i representatives to discuss the matter.

Welcia Holdings, Japan’s largest drugstore chain, is significantly increasing the number of stores with duty-free counters, anticipating the return of Chinese group tours after more than three years. The company plans to expand duty-free services to 1,000 stores from the current 260, expecting tourists to visit beyond Japan’s major cities.

Japanese trading houses, which are favored by Warren Buffett, reported strong earnings last quarter despite a drop in commodity prices and China's economic rebound. The five major firms, Mitsubishi Corp., Mitsui & Co., Sumitomo Corp., Marubeni Corp., and Itochu Corp., all exceeded net-income estimates. Mitsubishi and Mitsui are considering additional shareholder returns, while Itochu plans a share buyback. Buffett's Berkshire Hathaway increased its stake in these companies to over 8.5%. The trading houses' diverse portfolios, including convenience stores and salmon farming, helped them perform better than energy majors like Exxon Mobil and Shell, which missed estimates due to falling gas prices and weak oil-refining margins.

Grace Huang shares her experiences traveling to Osaka and nearby cities, highlighting Osaka's distinct culture, humor, and history of innovation. She notes the invention of conveyor belt sushi by Yoshiaki Shiraishi, the creation of Cup Noodles by Momofuku Ando, and the concept of capsule hotels. The article also mentions a visit to the Cup Noodles Museum and the city's free walking tours.

The author shares her first-time experience traveling to Tokyo, Japan, expressing admiration for the city's unique offerings. She highlights a local walking tour that covered New and Old Tokyo, focusing on food, culture, history, and religion. Key sites visited include the Kanda Myojin Shrine for Shintoism and Yushima Seidō for Buddhism, with detailed descriptions of their significance and practices.

A sushi restaurant chain, Akindo Sushiro, is suing a teen for 67 million yen (RM2.21 million) after a viral video showed him licking communal bottles and plates, causing significant financial losses and a drop in the company's shares. The incident, termed 'Sushi Terrorism,' led to a wave of copycat pranks. The chain has implemented measures to prevent tampering and is seeking compensation for the costs. Other major sushi chains are also considering preventive technologies.

Safety is a core value at Manheim, guiding the creation of workplaces that inspire, empower, and protect employees. The company emphasizes sustainable safety practices, employee feedback, and participation. Key elements include understanding human error, listening to subject matter experts, and engaging employees in safety culture. Manheim collaborates with the National Auto Auction Association and its Safety and Security Committee to develop training and programs, continuously investing in a culture of safety to benefit the auto auction industry.

As of May 2023, the ongoing standoff on the debt ceiling negotiation between the White House and U.S. Congress is causing significant concern and stress among the general public, who feel powerless in the process. The article explores the broader implications of the U.S. dollar on the lives of American citizens.

Institutional Shareholder Services (ISS) has advised shareholders of Seven & I Holding Co. to vote against the retailer's four director nominees, including CEO Ryuichi Isaka, due to past underperformance and poor capital allocation. Instead, ISS supports a rival proposal from activist fund ValueAct Capital Management LP, whose nominees are seen as bringing valuable board experience and shareholder perspective.

Seven & I Holdings' directors assert that their strategy, focused on food procurement and retail sales, is optimal for long-term shareholder value, countering ValueAct Capital Management's criticism. The activist fund, in a detailed presentation, accused the management of failing to deliver value and called for new board members and a new president. The debate is set to continue until the annual general meeting on May 25, where shareholders will decide on the proposed changes.

Japanese executives from elite firms met with Warren Buffett at the Four Seasons Hotel in Tokyo to pitch their companies. Buffett's visit underscores his significant investment interest in Japan, with Coca-Cola playing a role in his investment strategy.

Japanese executives from elite firms met Warren Buffett at the Four Seasons Hotel in Tokyo to discuss accelerating their trading houses' move beyond commodities. Buffett, who has significant investments in these companies, engaged in detailed discussions about their businesses, economic views, and future plans, showing eagerness to collaborate.

Astellas Pharma, a Japanese pharmaceutical company, has agreed to acquire Iveric Bio for approximately $5.9 billion. The acquisition, funded through cash and debt, offers Astellas a potential treatment for blindness and eye diseases, reducing its reliance on its prostate cancer drug Xtandi. The deal is seen as a strategic move to enter a large market with unmet medical needs. Analysts have mixed views on Astellas' history with mergers and acquisitions but see this deal as less likely to incur losses. Astellas plans to finance the acquisition through bank loans and commercial paper issuance, with no changes to its dividend policy.

Ajinomoto, primarily known for its food products, is considering building a new factory to increase production of its specialized semiconductor material, Ajinomoto Build-Up Film (ABF). CEO Taro Fujie mentioned that the company might invest more than the planned ¥25 billion ($186 million) if needed, with a decision expected within a few years. ABF, developed in the 1970s, is essential for connecting chips to circuit boards and has positioned Ajinomoto as a dominant supplier. The company's stock has surged by 21% this year, with analysts projecting a 19% revenue increase for the fiscal year ending in March.

Nippon Paint Holdings Co. plans to pursue overseas acquisitions financed by borrowing in Japan, where interest rates are low. Co-president Yuichiro Wakatsuki believes borrowing costs will remain low even if the Bank of Japan's new governor, Kazuo Ueda, ends the central bank's ultra-loose monetary policy. Wakatsuki, who joined Nippon Paint in 2019, previously advised Singapore's mogul Goh Cheng Liang's Wuthelam Holding Pte., which took a majority stake in Nippon Paint in 2021.

Seven & I Holdings is considering strategic options, including spinoffs and public listings, to enhance shareholder returns following pressure from activist fund ValueAct Capital Management. A new committee of outside board members will recommend and execute changes. The company aims to improve cash flow, payouts, and growth in its convenience-store business, with ValueAct urging a focus on 7-Eleven to boost its global value.

Suntory Beverage and Food's new CEO, Makiko Ono, aims to drive growth through acquisitions worth up to $5.4 billion, focusing on health-related drinks in the U.S., Asia, and other regions. The strategy leverages changing consumer behaviors post-pandemic, with increased demand for energy drinks, tea, and canned coffee.

Suntory Beverage and Food Ltd.'s new CEO, Makiko Ono, aims to drive growth through mergers and acquisitions, targeting up to ¥700 billion ($5.4 billion) in opportunities over the next few years. Ono, who has extensive experience in foreign acquisitions, plans to leverage changes in consumer behavior post-Covid to expand the company's health-related product offerings.

Investcorp Holdings, the Middle East's largest alternative asset manager, plans to expand its team in Japan, aiming to hire up to 20 staff in Tokyo by the end of the year. The firm is targeting investments in businesses valued between $100 million to $400 million and is considering a dedicated Japan fund or integrating the stakes within a pan-Asian fund. The Tokyo office was opened last month, and Investcorp manages approximately $50 billion globally.

Takeda Pharmaceutical Co. is selling its dengue vaccine, Qdenga, at a significantly reduced price in emerging markets such as Indonesia and Brazil to ensure access for those most vulnerable to the disease. In Indonesia, the vaccine will cost about one-third of its European price, with a recommended retail price of $80 for a two-shot course, compared to $238 in Germany. The vaccine targets a wider population than the rival Sanofi's Dengvaxia and has been approved in several countries, including the EU and the UK. Takeda aims to incorporate Qdenga into public immunization programs and is planning to produce 100 million doses annually. The company's CEO, Christophe Weber, emphasizes the importance of affordability for widespread access, despite the price potentially remaining out of reach for many in rural areas.

Takeda Pharmaceutical has decided to sell its dengue vaccine, Qdenga, at a significantly reduced price in emerging markets such as Indonesia and Brazil to ensure access for those most at risk of the disease. The price in Indonesia will be about one-third of its European cost, according to CEO Christophe Weber.