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REUTERS/Maxim Shemetov/File PhotoTOKYO, March 17 (Reuters) - Japan's major companies have concluded their annual labour talks with average wage hikes of 3.8% for the coming fiscal year, the largest raise in about three decades, trade union confederation Rengo said on Friday. The preliminary survey of 805 unions affiliated with Rengo showed the average hike rate of 11,844 yen ($89) per month, according to the labour organisation. "Many unions received in full or exceeded their demand for wage hikes," Rengo chief Tomoko Yoshino told a news conference. Those businesses have often struggled to pass on rising costs to their customers. It's unclear whether the rising wage trend will be sustainable, let alone create the "virtuous cycle" of stronger economic growth and 2% inflation long sought by Japan's central bank.

☆ Japan's big firms offer largest pay rises in decades
▼ + stars: | 2023-03-15 | by ( Tetsushi Kajimoto | ) www.reuters.com time to read: +4 min

The Rengo umbrella labour group has called for a 5% pay increase. The JERC survey showed that excluding seniority-based pay, base compensation that boosts fixed labour costs accounts for just 1.08%. "We need to focus on base pay. Workers from Japan's largest group of trade unions last week struck early agreements for hefty wage hikes. Unions have historically tended to settle for relatively meagre pay hikes around 2% in recent years, as unions are inclined to cooperate with management in keeping job security rather than aggressively demanding pay rises.

"Credit Suisse remains committed to our investment banking & capital markets clients throughout the APAC (Asia Pacific) region," the company told Reuters in response to a query. Credit Suisse's restructuring plan includes creating a separate unit for its investment bank under the CS First Boston brand. Reuters was not immediately able to ascertain whether the few remaining staff at Credit Suisse's Japanese investment banking division would be shifted to the new unit. Credit Suisse also runs wealth management, equity research, securities trading and asset management businesses in Japan. Some of the major deals that Credit Suisse advised on in Japan included Hitachi Ltd's (6501.T) $9.6 billion acquisition of U.S. software company GlobalLogic Inc.

☆ The AI craze has sent some stocks soaring up to 300%. This list of over 74 stocks across 5 categories features the top picks from the sector's leading fund managers.
▼ + stars: | 2023-02-08 | by ( Laila Maidan | ) www.businessinsider.com time to read: +11 min

These 74 stocks are picked by AI ETF managers. What she believes is unique about her fund is its heavy focus on quantum computing technology, making up 41.22% of the fund. While big data is used for different technologies, it enables AI to work with massive data sets in its machine-learning process. TipRanks, a financial technology website that uses AI to analyze financial data, created a stock list for what they deem are the best AI stocks based on popularity. TipRanks' list of nine of the best AI stocks have large market caps and are likely to remain relevant for a long time.

☆ Nissan and Hitachi look to charge elevators with EV batteries
▼ + stars: | 2023-01-27 | by ( ) www.reuters.com time to read: +1 min

[1/2] 2023 Nissan Pathfinder is unveiled at the 2022 New York International Auto Show, in Manhattan, New York City, U.S., April 13, 2022. In what appears to be an early attempt in earthquake-prone Japan to make wider use of EV batteries, Nissan and Hitachi Building Systems Co Ltd are focused on keeping elevators running when the power supply is disrupted. The V2X system uses the CHAdeMO charging standard supported by Nissan, an Hitachi Building Systems executive said. That allows it to also draw power from larger Nissan EVs, such as the Ariya and Leaf models. Tatsunori Takahashi, a director in the domestic business management division of Hitachi Building Systems, said he hopes the firm will start providing the system to apartment buildings from the financial year starting in April.

☆ Artificial intelligence and machine learning are helping companies provide even better service for customers
▼ + stars: | 2023-01-27 | by ( Sponsor Post | Created Hitachi With Insider Studios | ) www.businessinsider.com time to read: +7 min

By harnessing Hitachi's advanced expertise in artificial intelligence (AI) and machine learning (ML), the partners took their existing model and expanded it into a predictive model they called Proactive Diagnostics. The Guided Repair solution is now being used by more than 9,700 Penske fleet maintenance technicians in more than 880 locations. Using machine learning, the Proactive Diagnostics solution monitors fleet vehicles and tracks anomalies that indicate future potential failures." The Proactive Diagnostics solution provides data archived over days and weeks to give Penske that predictive power so it can act on its knowledge. With its enhanced capacity for analysis, Proactive Diagnostics enables Penske to compare fault codes and search for patterns that signal a potential failure.

☆ Why a human-centric approach to digital transformation is more likely to be successful for your business
▼ + stars: | 2023-01-23 | by ( Sponsor Post | Created Hitachi With Insider Studios | ) www.businessinsider.com time to read: +7 min

Having a clear alignment between your technical objectives and your company's culture is essential for success — in fact, organizations that take a human-centric approach to digital transformation are 2.6 times more likely to see success. 1Five common business blockers to cultural changeThere are several common stumbling blocks that may significantly impede your progress along the path to digital transformation. How can companies overcome these stumbling blocks to enable and encourage cultural change in support of digital transformation? The right technology can make all the difference in fostering the cultural shift necessary for successful digital transformation. Because, in the end, digital transformation is all about your people; a journey begun for your people and achieved by your people.

☆ 5 key takeaways from Climate Week NYC 2022
▼ + stars: | 2023-01-17 | by ( Sponsor Post | Created Hitachi With Insider Studios | ) www.businessinsider.com time to read: +5 min

The importance of addressing climate change has never been greater. No single business or organization can tackle climate change on its own. On the first day of Climate Week NYC, industry experts gathered to discuss what's stopping us from getting climate action done. Helping small and medium-sized customers optimize their climate efforts allows companies with the resources and reach of Hitachi to extend climate action beyond their current offerings. Discover how Hitachi is getting it done by driving climate action through its sustainable technologies and solutions.

☆ Hitachi and Petrofac to work on TenneT offshore power conversion stations
▼ + stars: | 2023-01-13 | by ( ) www.reuters.com time to read: 1 min

AMSTERDAM, Jan 13 (Reuters) - TenneT, the Dutch-German electricity grid operator, has struck an agreement for Hitachi Energy (6501.T) and Petrofac (PFC.L) to work on two 2 gigawatt (GW) conversion stations it is planning in the North Sea, the company said on Friday. Financial terms were not disclosed, but TenneT said it expects to award full framework contracts this quarter. TenneT is building the conversion stations to collect electricity from offshore wind farms and send it onshore efficiently. The company has been engaged to connect about two thirds of the 65 GW in offshore wind capacity targeted by Germany, the Netherlands, Denmark and Belgium by 2030. (This story has been refiled to fix the typo in Hitachi in the headline)Reporting by Toby Sterling Editing by David GoodmanOur Standards: The Thomson Reuters Trust Principles.

☆ Rising commodities prices could be a tailwind for Caterpillar and these industrial names
▼ + stars: | 2023-01-13 | by ( Seema Mody | ) www.cnbc.com time to read: +2 min

The outlook for the global mining industry is strong going into 2023, aided by higher commodity prices, Denise Johnson, group president at Caterpillar , told CNBC. Palladium, copper and gold prices are hitting new highs this week as investors eye China's reopening and anticipate a recovery in demand for these commodities. U.S. industrial names that could get a lift from miners' increased capex spend include Caterpillar and Kennametal , according to Jefferies. International names that may also benefit include Komatsu, Hitachi Construction Machinery, Weir Group, Epiroc and Sandvik, the firm noted. Bank of America analysts upgraded Caterpillar to a buy rating on Friday, citing China's reopening and increased infrastructure spending.

☆ ABB gets $1.4 bln after completing power grids sale to Hitachi
▼ + stars: | 2022-12-28 | by ( ) www.reuters.com time to read: 1 min

ZURICH, Dec 28 (Reuters) - ABB (ABBN.S) has completed the sale of its remaining 19.9% stake in the power grids business it sold to Hitachi (6501.T), the Swiss engineering and technology group said on Wednesday. Hitachi has exercised a call option that was agreed when it bought 80.1% of the business - now called Hitachi Energy - in December 2018. Through the divestment, ABB has realised a net positive cash inflow of approximately $1.425 billion in the fourth quarter 2022, it said. Reporting by John Revill; Editing by Kirsten DonovanOur Standards: The Thomson Reuters Trust Principles.

☆ 23 major brands suspected of illegally sourcing products made by forced labor in China
▼ + stars: | 2022-12-17 | by ( Jacob Zinkula | ) www.businessinsider.com time to read: +9 min

And more ...Mary Meisenzahl/InsiderThese companies have also been suspected of having direct or indirect ties to Chinese forced labor in the aforementioned reports. Bosch"Bosch is committed to ensuring that its products are not produced wholly or in part by forced labor. "Compliance with human rights, labor rights and environmental standards is a top priority at PUMA and has been specified in our Codes of Conduct for over 20 years." As stated in our Business Conduct Guidelines, we reject all forms of oppression, forced labor and participation in human rights violations. We will continue to respect human rights and take a strong stand against forced labor."

☆ Ukraine keeps patching up its power grid. But Russia’s barrage could force more Ukrainians to flee as winter bites
▼ + stars: | 2022-12-10 | by ( Tim Lister Olga Voitovych Victoria Butenko | Tim Lister | Olga Voitovych | ) edition.cnn.com time to read: +10 min

The result is a grinding battle of attrition: Barrages of Russian missiles fly across Ukraine, and Ukrainian power engineers work for days in freezing temperatures to restore power. “By the nature of the attacks we see that Russian missiles are directed by Russian power engineers,” says Tymoshenko. 15 gigawatts of Ukraine’s power capacity have been taken out, compared to the pre-war capacity of 56 gigawatts (GW) of power, according to Ukrenergo. Tymoshenko told CNN that Ukraine’s power system has been part of the continental network since March after synchronization of the systems. “And this, of course, will encourage us to further technological development of the power system after victory,” he says.

☆ Thales-Hitachi rail signal deal delayed as UK raises competition concerns
▼ + stars: | 2022-12-09 | by ( ) www.reuters.com time to read: +2 min

Dec 9 (Reuters) - Britain's competition watchdog is concerned Japan's Hitachi (6501.T) acquisition of France's Thales (TCFP.PA) railway signalling business may result in higher fares for passengers, it said on Friday. As a result, Thales (TCFP.PA) expects the sale to close in the second half of next year, compared to the previous plan to finalise the deal in early 2023. Britain's principal customer for mainline signalling, Network Rail, is putting in place a tendering process for its next major signalling procurement, the Competition and Markets Authority (CMA) said. A deal between Hitachi and Thales could eliminate a credible competitor from the new tendering process, it said. It said both companies were committed to working with all regulatory bodies to ensure the deal closed as quickly as possible.

☆ Komatsu CEO: no immediate plan to withdraw from Russia
▼ + stars: | 2022-12-05 | by ( ) www.reuters.com time to read: +2 min

Komatsu has a manufacturing plant in Yaroslavl, Russia. But various developments could take place as we go forward," Komatsu Chief Executive Hiroyuki Ogawa told reporters in an online interview. "There may come a time when we will need to decide whether or not to withdraw (from Russia). Russia and other countries in the Commonwealth of Independent States (CIS) accounted for 7% of Komatsu's heavy machinery sales in the year to end-March 2022. "I don't necessarily think demand in the next business year will be good when compared with this year's," Ogawa said.

☆ Swiss engineering group ABB fined $4.3 mln
▼ + stars: | 2022-12-02 | by ( ) www.reuters.com time to read: +1 min

[1/2] The logo of Hitachi ABB is seen at an office building in Zurich, Switzerland September 10, 2020. REUTERS/Arnd Wiegmann/File PhotoZURICH, Dec 2 (Reuters) - Swiss engineering and technology group ABB (ABBN.S) has been fined 4 million Swiss francs ($4.3 million) by the country's Attorney General in connection with a bribery case in South Africa. The company agreed to pay 2.5 billion rand ($144.51 million) in punitive reparations to South Africa within 60 days from Dec. 1, the NPA's statement said. This is in addition to 1.6 billion rand ($92.48 million)the company paid back to South African state power utility Eskom in 2020. ABB was found guilty of improper payments and other compliance issues at the Kusile power station after a wide-scale investigation into state corruption concluded in June 2022.

☆ TerraPower, PacifiCorp to study 5 more advanced nuclear reactors
▼ + stars: | 2022-10-27 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Lucas Jackson/File PhotoWASHINGTON, Oct 27 (Reuters) - TerraPower LLC, Bill Gates' advanced nuclear reactor company, and power company PacifiCorp said on Thursday they will undertake a study to evaluate deploying up to five additional Natrium reactors in the U.S. West by 2035. The Wyoming Natrium reactor, being developed by TerraPower and GE Hitachi Nuclear Energy, will get about half of its funding from the U.S. government. The joint study on the additional reactors will evaluate the potential for advanced reactors to be located near current fossil-fueled generation sites, enabling PacifiCorp to repurpose existing power generation and transmission assets in California, Washington, Oregon, Utah, Wyoming, and Idaho, the companies said. Some nonproliferation experts say the more highly enriched fuel expected to be used by advanced reactors could become an attractive target for militants looking to convert it for use in a crude nuclear weapon. Advanced reactor proponents say the plants are safer and create less waste.

☆ Canada backs nuclear power project with C$970 mln financing
▼ + stars: | 2022-10-25 | by ( Ismail Shakil | ) www.reuters.com time to read: +2 min

The nuclear power project, which is being developed by utility Ontario Power Generation (OPG) in Darlington, will be the first commercial grid-scale SMR in the Group of Seven wealthy nations (G7), according to the minister's spokesperson. read more"We are doing this because nuclear energy – as a non-emitting source of energy – is critical to the achievement of Canada's and the world's climate goals," Wilkinson will say. "Nuclear power is one source that can help in reaching our climate targets while addressing growing future demand." About 15% of Canada's electricity comes from nuclear power, according to the World Nuclear Association. The reactors are designed by GE-Hitachi Nuclear Energy, an alliance between General Electric Co (GE.N) and Japan's Hitachi Ltd , and could power about 300,000 homes after completion, OPG says.

☆ 6 critical areas where sustainable companies should invest their time, resources, and money
▼ + stars: | 2022-10-24 | by ( Sponsor Post | Created Hitachi With Insider Studios | ) www.businessinsider.com time to read: +2 min

Following this, Hitachi released their "Hitachi Sustainability Report 2022." The "Hitachi Sustainable Report 2022" highlights the specific measures the company is taking to promote sustainable management under the newly strengthened sustainability management structure. Within, Hitachi clarifies six critical issues (material topics) in sustainable management considering global initiatives and the expectations and needs of stakeholders. 6 critical issues in sustainable managementHitachiFor a recap of Hitachi's presence at Climate Week NYC, click here. To view the comprehensive report, see Hitachi's Sustainability Report 2022.

☆ ABB reports record margin in Q3 as demand stays strong
▼ + stars: | 2022-10-20 | by ( John Revill | ) www.reuters.com time to read: +3 min

SummarySummary Companies Company says component supply problems easing furtherSays customer activity at a high levelExpects to reach operating profit margin goal one year earlyZURICH, Oct 20 (Reuters) - ABB (ABBN.S) posted its highest-ever quarterly profit margin during the third quarter as the engineering and technology company said customer demand remained strong. The maker of industrial drives and electric ship motors said on Thursday its core operating profit margin increased by 1.5 percentage points to 16.6%, the highest since the Swiss company was founded in 1988. The profit margin improvement brought the year to date figure to 15.5%, and meant ABB is likely to achieve its target of hitting 15% this year - one year early. "We delivered high order growth, a strong top-line development and a historically high margin," Chief Executive Bjorn Rosengren said in a statement. Rosengren's strategy has led to selling non-core businesses, like the mechanical power transmission business Dodge, and also spinning off its turbocharging business Accelleron to shareholders.

☆ This startup helps Microsoft and P&G make their products more sustainable. Check out the 14-slide pitch deck Makersite used to raise $17.5 million.
▼ + stars: | 2022-10-18 | by ( Tasmin Lockwood | ) www.businessinsider.com time to read: +3 min

A startup that helps companies build more sustainable products just raised $17.5 million. We got an exclusive look at the 14-slide pitch deck it used to raise the Series A round. A German startup that enables companies to assess the sustainability of their products before going to market just landed 18 million euros (around $17.5 million) in its first institutional raise. Makersite uses AI to create software-based replicas of product designs using technology known as digital twins. Check out the 14-slide pitch deck Makersite used to raise the fresh funds below.

☆ U.S. VP Harris to meet with Japanese chip firms -official
▼ + stars: | 2022-09-27 | by ( Trevor Hunnicutt | ) www.reuters.com time to read: +2 min

Register now for FREE unlimited access to Reuters.com RegisterU.S. Vice President Kamala Harris speaks to the media during her visit to Zojoji Temple on the day of the state funeral for slain former Prime Minister Shinzo Abe, in Tokyo, Japan September 27, 2022. REUTERS/Leah Millis/PoolTOKYO, Sept 27 (Reuters) - Vice President Kamala Harris will meet on Wednesday in Japan with heads of semiconductor-related businesses as the Biden administration works to boost U.S. chips manufacturing, according to a senior administration official. Register now for FREE unlimited access to Reuters.com RegisterU.S. President Joe Biden has prioritised building high-tech chips in an effort to preserve high-paying American jobs and counter the rising market dominance of China, who he views as Washington's key strategic competitor. Those shortages have worsened U.S. consumer price inflation, which topped 8% on an annual basis in August. Register now for FREE unlimited access to Reuters.com RegisterReporting by Trevor Hunnicutt; Additional reporting by Daniel Leussink; Editing by Louise HeavensOur Standards: The Thomson Reuters Trust Principles.

☆ UPDATE 1-U.S. VP Harris to meet with Japanese chip firms -official
▼ + stars: | 2022-09-27 | by ( Trevor Hunnicutt | ) www.reuters.com time to read: +1 min

(Adds names of companies, background on chips shortage)TOKYO, Sept 27 (Reuters) -Vice President Kamala Harris will meet on Wednesday in Japan with heads of semiconductor-related businesses as the Biden administration works to boost U.S. chips manufacturing, according to a senior administration official. She is also expected to tout the benefits of those companies moving manufacturing hubs away from a dependence on single, low-cost countries like China to prevent disruptions. President Joe Biden has prioritised building high-tech chips in an effort to preserve high-paying American jobs and counter the rising market dominance of China, who he views as Washington’s key strategic competitor. Those shortages have worsened U.S. consumer price inflation, which topped 8% on an annual basis in August. (Reporting by Trevor Hunnicutt; Additional reporting by Daniel Leussink; Editing by Louise Heavens and Mark Porter)

Banknotes of Japanese yen are seen in this illustration picture taken September 22, 2022. Almost a quarter of Japanese manufacturers' production is carried out overseas, according to the latest trade ministry data. The weak yen drives up the cost of acquiring businesses overseas, although that could be less of a concern for many cash-rich Japanese firms. At the same time, the weak yen makes Japanese companies cheaper targets for foreign buyers. For retailers, the weak yen has been particularly painful, as it drives up costs, including for energy and food.

☆ 5G will advance payments and mobile commerce
▼ + stars: | 2021-04-23 | by ( Jim Davis | ) www.businessinsider.com time to read: +5 min

5G tech will likely bring about positive changes to the retail industry. The following is a preview of one Ecommerce & Retail report, the How 5G will Change Retail. 5G technology could bring about positive changes to the retail industry. Shekel Brainweigh has developed an autonomous retail store format with AI-enabled smart shelf systems that count inventory by weighing items on shelves. We forecast that US mobile payment volume will rise from $705.28 billion in 2019 to $2.541 trillion in 2025 across mcommerce, proximity mobile payments, and mobile peer-to-peer (P2P) payments.

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