DIRS.INFO The most relevant business & tech news

☆ Oil prices hover near 10-month high on supply concerns
▼ + stars: | 2023-09-13 | by ( ) www.cnbc.com time to read: +2 min

Oil prices are expected to increase in the second half of 2023, according to the International Energy Forum. Oil prices edged higher on Wednesday, hovering at a new 10-month high hit the previous day, as expectations of tighter global supply and fears of supply disruption in Libya outweighed concerns of slower demand in some countries such as China. The news of OPEC member Libya shutting four of its eastern oil export terminals due to a deadly storm also lent support to oil prices, he added. The EIA, meanwhile, said global oil inventories were expected to decline by almost a half million bpd in the second half of 2023, causing oil prices to rise with Brent averaging $93 per barrel in the fourth quarter. But U.S. crude oil, distillate and gasoline stockpiles rose last week, according to market sources citing American Petroleum Institute figures on Wednesday.

Persons: LCOc1, Satoru Yoshida, Yoshida, Brent Organizations: International Energy, Brent, U.S, West Texas, OPEC, U.S . Energy, Rakuten Securities, Libya, of, Petroleum, American Petroleum Institute Locations: Libya, China, Saudi Arabia, Russia, OPEC

☆ Japan foreign minister Hayashi to meet Ukraine counterpart - ministry
▼ + stars: | 2023-09-09 | by ( ) www.reuters.com time to read: +1 min

Japan's Foreign Minister Yoshimasa Hayashi speaks during a press conference with Egyptian Foreign Minister Sameh Shoukry (not pictured) in Cairo, Egypt September 5, 2023. REUTERS/Mohamed Abd El Ghany/file photo Acquire Licensing RightsTOKYO, Sept 9 (Reuters) - Japanese Foreign Minister Yoshimasa Hayashi will meet his Ukrainian counterpart Dmytro Kuleba in Kyiv on Saturday, the Japanese foreign ministry said. In his talks with Kuleba, Hayashi will reiterate Japan's firm support of Ukraine and address its involvement in the international community to end Russia's invasion of Ukraine as soon as possible, the ministry said in a statement. Hayashi is accompanied by executives of Japanese firms, including Hiroshi Mikitani, founder and chief executive Rakuten Group (4755.T), the ministry said. Japan's Prime Minister Fumio Kishida made a surprise visit to Kyiv to meet Ukrainian President Volodomyr Zelenskiy in March.

Persons: Yoshimasa Hayashi, Sameh Shoukry, Mohamed Abd El Ghany, Dmytro Kuleba, Kuleba, Hayashi, Hiroshi Mikitani, Fumio Kishida, Volodomyr Zelenskiy, Junko Fujita, Nobuhiro Kubo, Michael Perry Organizations: Japan's, Egyptian Foreign, REUTERS, Rights, Ukrainian, Rakuten Group, Thomson Locations: Cairo, Egypt, Kyiv, Ukraine

☆ Rakuten CEO touts Viber's ability to counter Russian 'fake news'
▼ + stars: | 2023-09-09 | by ( Max Hunder | ) www.reuters.com time to read: +2 min

Hiroshi Mikitani, CEO of Rakuten, attends the annual Allen and Co. Sun Valley media conference in Sun Valley, Idaho, U.S., July 10, 2019. REUTERS/Brendan McDermid/File Photo Acquire Licensing RightsKYIV, Sept 9 (Reuters) - Hiroshi Mikitani, the founder and chief executive of Rakuten Group (4755.T), on Saturday touted the ability of his company's Viber messaging platform to counter Russian propaganda. "Unlike other social media, we've made it crystal clear we're going to block all these fake news and propaganda of Russia," Mikitani told Reuters in a Zoom interview during a visit to Kyiv. Viber, which launched in 2010 and was acquired by Rakuten in 2014, has a 98% market penetration rate in Ukraine. Asked if the app had faced attempts to breach it by Russia, he said there had not been any breaches.

Persons: Hiroshi Mikitani, Brendan McDermid, we've, Mikitani, Yoshimasa Hayashi, Viber, Rakuten, Max Hunder, Mike Harrison Organizations: Allen, Co, Sun, REUTERS, Rights, Rakuten, Saturday, Reuters, Access, Thomson Locations: Sun Valley , Idaho, U.S, Russia, Kyiv, Ukraine

☆ Japan Foreign Minister Hayashi to Meet Ukraine Counterpart - Ministry
▼ + stars: | 2023-09-08 | by ( Sept. | At P.M. | ) www.usnews.com time to read: 1 min

TOKYO (Reuters) - Japanese Foreign Minister Yoshimasa Hayashi will meet his Ukrainian counterpart Dmytro Kuleba in Kyiv on Saturday, the Japanese foreign ministry said. In his talks with Kuleba, Hayashi will reiterate Japan's firm support of Ukraine and address its involvement in the international community to end Russia's invasion of Ukraine as soon as possible, the ministry said in a statement. Hayashi is accompanied by executives of Japanese firms, including Hiroshi Mikitani, founder and chief executive Rakuten Group, the ministry said. Japan's Prime Minister Fumio Kishida made a surprise visit to Kyiv to meet Ukrainian President Volodomyr Zelenskiy in March. (Reporting by Junko Fujita and Nobuhiro Kubo; Editing by Michael Perry)

Persons: Yoshimasa Hayashi, Dmytro Kuleba, Kuleba, Hayashi, Hiroshi Mikitani, Fumio Kishida, Volodomyr Zelenskiy, Junko Fujita, Nobuhiro Kubo, Michael Perry Organizations: Ukrainian, Rakuten Group, Japan's Locations: TOKYO, Kyiv, Ukraine

☆ Lyft threatens to leave Minneapolis if the city raises the minimum wage for drivers, because prices could double and 'only the most wealthy could still afford a ride'
▼ + stars: | 2023-08-18 | by ( Kai Xiang Teo | ) www.businessinsider.com time to read: +4 min

The Minneapolis city council has advanced a bill that could raise the minimum wage for rideshare drivers. "Prices could double, and only the most wealthy could still afford a ride," said Lyft. The Minneapolis city council's move to hike the minimum wage for rideshare drivers has Lyft threatening to exit the city if the bill becomes law. Rival rideshare company Uber also lashed out against the law. To be sure, data from Rakuten Intelligence shows a 92% rise in Uber and Lyft ride costs between 2018 and 2021.

Persons: Uber, Lyft, Jacob Frey, vetoing, Marianna Brown Organizations: Morning, CNN, Democratic, Associated Press, CBS News Minnesota, Rakuten Intelligence Locations: Minneapolis, City, —

☆ Rakuten shares jump as mobile losses narrow
▼ + stars: | 2023-08-14 | by ( Anton Bridge | ) www.reuters.com time to read: +2 min

REUTERS/Miho UranakaTOKYO, Aug 14 (Reuters) - Rakuten Group (4755.T) shares surged on Monday morning after the e-commerce giant reported narrowing losses at its cash bleeding mobile unit last week alongside assurances that it can cover its debt burden for the next financial year. Rakuten has taken to publicly listing its more successful units to generate cash, listing its internet banking business - Rakuten Bank (5838.T) - in April and applying to list its securities business in July. Last week, Rakuten also announced plans to consolidate its payments and points businesses and fold them into Rakuten Card, its credit card and loans unit. Rakuten also committed to taking on no additional gross debt, instead using equity-related financing to reduce its debt burden. The group has a total of 1.9 trillion yen ($13.11 billion) in debt, with 406 billion yen due in 2024 and a further 430 billion yen in 2025, according to Refinitiv data.

Persons: Miho Uranaka, Jefferies, Rakuten, Anton Bridge, Jacqueline Wong Organizations: REUTERS, Rakuten, Rakuten Bank, Thomson Locations: Yokohama, Kanagawa, Japan, Miho Uranaka TOKYO

☆ Rakuten to combine credit card and mobile payments business -NHK
▼ + stars: | 2023-08-10 | by ( ) www.reuters.com time to read: 1 min

The logo of Rakuten is pictured at the headquarters of Rakuten in Tokyo, Japan, May 15, 2019. REUTERS/Sam NusseyTOKYO, Aug 10 (Reuters) - Japan's Rakuten Group (4755.T) will combine its credit card and mobile payment businesses and is considering listing its card business, public broadcaster NHK reported on Thursday. This would be the e-commerce group's latest attempt to shore up its finances after racking up enormous losses since 2020 on its beleaguered attempt to establish Japan's fourth major mobile network carrier. Reporting by Anton Bridge; Editing by Jamie FreedOur Standards: The Thomson Reuters Trust Principles.

Persons: Sam Nussey TOKYO, Anton Bridge, Jamie Freed Organizations: REUTERS, NHK, Thomson Locations: Rakuten, Tokyo, Japan

☆ Japan's struggling Rakuten to combine credit card and mobile payments business
▼ + stars: | 2023-08-10 | by ( Anton Bridge | ) www.reuters.com time to read: +2 min

REUTERS/Sam NusseyTOKYO, Aug 10 (Reuters) - Japan's Rakuten Group (4755.T) will fold its payments and points businesses into its credit card unit, it said on Thursday, a move that could set the struggling e-commerce company up to eventually list the card business. It has turned to listing some of its units - including its popular internet banking business, Rakuten Bank (5838.T) - to generate cash. The company said on Thursday it plans to consolidate its payments and points businesses and fold them into Rakuten Card, its credit card and loans unit. Rakuten Card will become the "driving force" behind its integrated payments business and may form strategic partnerships with other companies as well as "raising its own capital as necessary", Rakuten said in a statement. Users accumulate points by using Rakuten credit cards, shopping and insurance services.

Persons: Sam Nussey TOKYO, Rakuten, Tareq Amin, Anton Bridge, Jamie Freed, David Dolan, Gerry Doyle Organizations: REUTERS, Rakuten Bank, Rakuten, Public, NHK, Refinitiv, Thomson Locations: Rakuten, Tokyo, Japan

☆ Rakuten Group developing services with OpenAI
▼ + stars: | 2023-08-02 | by ( ) www.reuters.com time to read: 1 min

TOKYO, Aug 2 (Reuters) - Japan's Rakuten Group (4755.T) is working with the company behind ChatGPT, OpenAI, to develop services using AI, CEO Hiroshi Mikitani announced on Wednesday. The companies will soon sign a basic agreement, he said. Reporting by Anton Bridge; Editing by Jacqueline WongOur Standards: The Thomson Reuters Trust Principles.

Persons: Hiroshi Mikitani, Anton Bridge, Jacqueline Wong Organizations: Thomson Locations: TOKYO

☆ Uber CEO balks after a reporter tells him the cost of his 2.9-mile Uber ride: 'Oh my God. Wow.'
▼ + stars: | 2023-08-01 | by ( Sarah Jackson | ) www.businessinsider.com time to read: +3 min

The price of an Uber ride can catch you off guard — even if you're the company's CEO. Uber prices have surged in recent years due to inflation and a pandemic-era driver shortage. Wired editor-at-large Steven Levy took a 2.95-mile Uber ride from downtown New York City to the West Side to meet Uber CEO Dara Khosrowshahi. When asked to estimate the cost of the ride, Khosrowshahi put it at "twenty bucks." When Levy first tried to book an Uber ride for the interview, the price was $20 higher, he said.

Persons: —, Dara Khosrowshahi, Steven Levy, Uber, Khosrowshahi, Levy, it's, Lyft, Uber's Organizations: CNBC, Rakuten Intelligence, UCLA Labor Center Locations: New York City

The timing of the listing was still unclear as money-losing PayPay needs to first demonstrate a clear path to profitability, the source said. SoftBank has previously set a PayPay listing as a goal, with one executive saying in November it was worth just under 1 trillion yen ($7.17 billion). Representatives for PayPay and SoftBank Group's (9984.T) domestic telecoms business, SoftBank Corp (9434.T), said they would not comment on speculation. PayPay is owned by SoftBank Corp, its internet business, Z Holdings (4689.T), and the group's second Vision Fund. PayPay booked a loss before interest, taxes, depreciation and amortisation of 11.9 billion yen in the year ended March, compared to a loss of 43.2 billion yen a year earlier.

Persons: SoftBank, SoftBank Group's, Kirk Boodry, Son, PayPay, Sam Nussey, Miho Uranaka, Scott Murdoch, David Dolan, Muralikumar Organizations: Companies, Z Holdings, PayPay, SoftBank Corp, Vision Fund, SoftBank, Syla Technologies, Rakuten Bank, SBI Sumishin, Bank, Astris Advisory, Mobile Marketing, Cambridge, Thomson Locations: . New York, Tokyo, New York, U.S, Astris Advisory Japan, Japan, England

"Oil prices are expected to stay in a range of about 3 dollars above and below $70 for WTI in the near term," Satoru Yoshida, a commodity analyst with Rakuten Securities. Oil prices had risen early in the week following Saudi Arabia's pledge over the weekend for deep output cuts, but they pared gains after rising U.S. fuel stocks and weak Chinese export data. Yoshida said factors such as fears over tighter supply and higher demand as the United States enters driving season which could drive prices higher were being offset by worries over a slow pickup in China's fuel demand. "Crude prices didn't get any favours from China as their economic recovery has disappointed," OANDA analyst Edward Moya said. While a Reuters poll of economists showed the U.S. Federal Reserve could skip a rate hike at its June 13-14 meeting, the absence of similar signals from other major central banks was weighing on the oil demand outlook, Moya added.

Persons: Satoru Yoshida, Saudi Arabia's, Yoshida, Edward Moya, Moya, Yuka Obayashi, Shri Navaratnam Organizations: Saudi, Brent, U.S . West Texas, WTI, Rakuten Securities, U.S . Federal, Thomson Locations: SINGAPORE, United States, Iran, U.S, United, China

In April and May, domestic outflows totalled around 2 trillion yen ($14.81 billion) for individual investors and over 2.2 trillion yen for Japanese institutions. While foreign investors are excited about the prospect of a new era of growth in corporate Japan, domestic investors are eager to catch any profits they can, sticking to a strategy born out of decades of fleeting rallies. Reuters Graphics"It has been a trend that retail investors sell stocks at a peak. This time short-term investors sold stocks as they were cautious about the sharp gains of the Nikkei," said Shoichi Arisawa, general manager of the investment research department at IwaiCosmo Securities. "Long-term investors also sold stocks because they were saddled with losses after the Nikkei made a range-bound move for a long time."

Persons: Shoichi Arisawa, Masayuki Kubota, Kubota, Warren Buffet, Ohara, Ankur Banerjee, Junko Fujita, Rocky Swift, Gaurav Dogra, Tom Westbrook, Sam Holmes Organizations: Nikkei, Reuters, IwaiCosmo Securities, Rakuten Securities, Tokyo Stock, Reuters Graphics, Bank of Japan, Gaurav, Thomson Locations: TOKYO, SINGAPORE, Japan, Tokyo, Singapore, Bengaluru

☆ Global audience demand for streaming Asian movies, series grows with hits like 'Squid Game'
▼ + stars: | 2023-05-28 | by ( Lillian Rizzo | ) www.cnbc.com time to read: +3 min

But investment in Asian, especially Korean, content is still high. "Some might think that supply outstripping demand globally could mean a slight pullback in investment could be on the table. The behemoth streaming service said it plans to invest $2.5 billion over the next four years to produce more Korean shows and movies. While global demand for Korean-language TV shows has increased since early 2020, it has still been outpaced by the supply of the content. Meanwhile, that demand has stagnated in comparison to other Asian language TV series, specifically Japanese and Chinese, according to Parrot.

☆ Rakuten shares slump 6% on expected $2.2 bln new share issuance
▼ + stars: | 2023-05-16 | by ( ) www.reuters.com time to read: +1 min

The Japanese e-commerce and fintech company's board could meet as early as this week to decide on the capital raising, which is expected to raise roughly 300 billion yen ($2.2 billion), sources told Reuters on Monday. Prospects of a share dilution led on Monday to the biggest one-day drop in three years. "Whenever there is a large sale of new equity, that is dilutive but it also forces decisions about whether to hold. Some will be upset and will sell," said analyst Travis Lundy of Quiddity Advisors, who publishes on Smartkarma. Rakuten said in a statement it was not true that any such decision had been made.

☆ Exclusive: Japan's Rakuten plans new share issue to raise around $2.2 bln -sources
▼ + stars: | 2023-05-15 | by ( Miho Uranaka | ) www.reuters.com time to read: +3 min

The public offering is expected to raise roughly 300 billion yen ($2.2 billion) but the amount could change depending on Rakuten's share price, which will influence the pricing of its new equity issuance. Additionally, Rakuten plans to issue shares to founder and CEO Hiroshi Mikitani and a fund controlled by the entrepreneur, the person said. A Rakuten spokesperson said it was not something it could comment on. Rakuten shares erased gains and tumbled, closing down 9% after the Reuters report. The group has some 400 billion yen in bonds due by 2024 and a further 430 billion yen in 2025, Refinitiv data showed.

Our experts answer readers' credit card questions and write unbiased product reviews (here's how we assess credit cards). The Platinum Card® from American Express offers up to $100 in credits at Saks Fifth Avenue each year. The Amex Platinum Saks credit is worth up to $50 at Saks Fifth Avenue from January to June, and another $50 July to December. Here's how to use the Amex Platinum Saks credit for maximum savings. For example, Rakuten occasionally offers up to 15% cash back (or 15 Amex Membership Rewards points per dollar, depending on your earning preferences).

☆ Rakuten Bank’s Explosive Market Debut Is Justified
▼ + stars: | 2023-04-21 | by ( Jacky Wong | ) www.wsj.com time to read: 1 min

Rakuten Bank’s listing ceremony at the Tokyo Stock Exchange on Friday. Photo: Kiyoshi Ota/Bloomberg NewsWhat banking crisis? For the initial public offering of Japan’s largest internet bank, shares are flying out of the door. Shares of Rakuten Bank , controlled by one of Japan’s largest e-commerce companies, jumped 38% on their first day of trading Friday after the bank raised $627 billion from its IPO, the biggest public offering in the country since 2018.

☆ Rakuten Bank shares face glut of buy orders in Tokyo debut after $625 mln IPO
▼ + stars: | 2023-04-21 | by ( ) www.reuters.com time to read: +1 min

TOKYO, April 21 (Reuters) - Shares of Rakuten Bank Ltd (5838.T) were untraded with a glut of buy orders in their market debut on Friday, after the internet bank raised $625 million in Japan's largest initial public offering (IPO) in more than four years. Shares were flooded with buy orders at 1,470 yen, Tokyo Stock Exchange data showed, a 5% premium to the IPO price of 1,400. Rakuten Bank priced its IPO at the top of its downsized range this month, raising around 83.3 billion yen ($625 million), excluding a "greenshoe" option of additional shares. Rakuten amended its IPO prospectus after investors pushed for details on the risks from its exposure to money-losing parent Rakuten Group Inc (4755.T), Reuters reported on Thursday citing two people with knowledge of the matter. The IPO marks a much-needed cash boost for e-commerce firm Rakuten Group, which has seen four years of losses from the costly build-out and struggles of its mobile phone business.

☆ Exclusive: In Rakuten Bank's downsized IPO, investors pushed for details on troubled parent, sources say
▼ + stars: | 2023-04-20 | by ( Miho Uranaka | ) www.reuters.com time to read: +3 min

Rakuten Bank declined to comment beyond what it has already disclosed. Rakuten Group directed Reuters to Rakuten Bank. Rakuten Bank also disclosed a 63.2 billion yen investment in securitised assets related to the struggling mobile business. It later priced the IPO at the top of the scaled-back range, valuing the bank at 238 billion yen. Demand from overseas investors was so strong at the lowered price that bankers ultimately increased the portion of IPO available to overseas investors, filings showed.

☆ Oil gains for 3rd day on Kurdish supply concerns, easing banking fears
▼ + stars: | 2023-03-29 | by ( ) www.cnbc.com time to read: +2 min

Oil wells are seen at an oil facility by the Highway 5 near Bakersfield in California, United States on November 27, 2022. Brent crude futures rose 42 cents, or 0.5%, to $79.07 a barrel at 0046 GMT. A drawdown in U.S. crude oil inventories last week also lent support. U.S. crude oil inventories fell by about 6.1 million barrels in the week ended March 24, according to market sources citing American Petroleum Institute figures on Tuesday. Analysts had expected U.S. crude oil stockpiles to have risen last week, while distillate and gasoline inventories were seen down.

Rakuten Kobo Clara 2E The Kobo Clara 2E offers a variety of features that avid readers will love, like a waterproof design and a comfortable power button. At this price point, the Kobo Clara 2E is rivaled only by the 8GB Kindle Paperwhite. Sarah Saril/InsiderThe Kobo Clara 2E makes a great companion for reading in different environments with its adjustable brightness and color temperature. On the plus side, the Kobo Clara 2E boasts great battery life, and it lives up to the manufacturer's promise. Listen to Kobo Audiobooks with a Bluetooth speaker or headphonesListening to audiobooks on the Kobo Clara 2E is as simple as connecting via Bluetooth.

☆ Exclusive: Japan's Rakuten plans IPO of bank unit, offering seen at $755 mln -sources
▼ + stars: | 2023-03-22 | by ( ) www.reuters.com time to read: +1 min

The Tokyo Stock Exchange is likely to approve the listing of Rakuten Bank Ltd as early as Wednesday, the people said, declining to be identified because the information is private. Rakuten will sell some of its stake in the offering and Rakuten Bank will issue new shares, for a total of around 100 billion yen ($755 million), the people said. The deal is expected to value the bank, Japan's largest online lender by number of accounts, at around 300 billion yen ($2.3 billion), one of the people said. Rakuten and Rakuten Bank did not respond to requests for comment. A spokesperson for the Tokyo exchange declined to comment.

☆ Dogs Win the Super Bowl Ad Lineup, Surveys Show
▼ + stars: | 2023-02-13 | by ( Patrick Coffee | ) www.wsj.com time to read: +5 min

The winner of USA Today’s annual Super Bowl Ad Meter was a commercial for dog-food delivery company Farmer’s Dog Inc. that tracked one chocolate Lab’s relationship with its owner from puppyhood to old age. The USA Today rankings had some overlap with other results. Research by Ace Metrix, a unit of TV ad measurement firm iSpot.tv Inc., crowned Jeep’s Super Bowl commercial as the most likable of the night. Jeep had the game’s most likable ad, according to Ace Metrix. “In past years, we’ve seen the majority of Super Bowl conversation generated in the weeks leading up to the Big Game,” a Mars spokeswoman said.

☆ The 2023 Super Bowl Ads Will Feature Booze, Betting and Jesus
▼ + stars: | 2023-02-10 | by ( Megan Graham | Patrick Coffee | ) www.wsj.com time to read: +10 min

The Super Bowl ads on Sunday are poised to promote an unusual mix of alcohol brands, gambling and Jesus. The Super Bowl still regularly draws an audience of around 100 million people, making it TV’s biggest event of the year and advertising’s biggest night. Planters’ Super Bowl ad features comedians mocking Mr. Peanut. The ads are likely to strike a lighter tone than the occasionally somber messages of Super Bowl ads in recent, highly politicized years or the early pandemic, said Anjali S. Bal, an associate professor of marketing at Babson College. Many Super Bowl advertisers have again released their ads well before Super Bowl Sunday to increase their chances of being seen.

Search resuls for: "Rakuten"

25 mentions found