Day: June 9, 2020

JR East raises another $3.8bn as ridership slump continues

TOKYO — East Japan Railway has raised 410 billion yen ($3.8 billion) in April and May to shore up finances as ridership continues to hemorrhage due to the novel coronavirus outbreak, the rail operator serving Tokyo said Tuesday.

The company, also known as JR East, tapped its bank overdraft arrangement to the tune of 260 billion yen and borrowed an additional 150 billion yen, President Yuji Fukasawa told reporters.

JR East has already raised 365 billion yen from commercial papers and corporate bonds, with total fundraising since March reaching 775 billion. The operator said it has reached its cash goals

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Japan’s NHK apologizes for offensive cartoon on US protests

TOKYO (Kyodo) — Japan’s public broadcaster NHK apologized Tuesday for a short animation it used on a weekly news program on the background to the ongoing Black Lives Matter protests in the U.S. following accusations it presented racist stereotypes.

The clip, lasting 1 minute and 20 seconds, also made no reference to the death in police custody of George Floyd, an African American, on May 25 in Minnesota as the event that sparked the protests, instead focusing on economic grievances.

NHK took down the video from the show’s Twitter account Tuesday afternoon, saying, “Due to criticism from viewers that the

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Aviva is first investor to hit out at HSBC in Hong Kong row

One of the UK’s largest investors has criticised HSBC and Standard Chartered for backing China’s controversial new security law for Hong Kong that could stifle its freedom. 

The London-listed banks were last week condemned by democracy campaigners for supporting the law, which criminalises anti-government movements in Hong Kong. Both Britain and the US have called it a violation of Beijing’s obligations to the territory. 

Breaking the silence among the banks’ UK investors, Aviva’s investment chief David Cummings said the fund giant was “uneasy” that the banks had publicly backed the legislation “without knowing the details of the law or how

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