China has now accepted the battle will be lengthy and hard-fought – with the potential to create serious difficulties for its own people. This week it confirmed that the quest for technological supremacy was, more specifically, China’s new Long March. The Long March is a major event in Chinese history, […]
forces
Heavy regulation forces ‘final salary’ pensions transfer advocate to close business
Financial advisors offering pension transfers are being chased out of the market by mounting costs and heavy regulation at a time when savers can receive record amounts of cash for ditching “final salary” pension schemes. Tideway Investment Group, a financial advice firm, which has been a strong defender of the […]
Boeing slump forces Toray to slash US carbon fiber jobs
TOKYO — Japanese materials maker Toray Industries will reduce staffing at its U.S. carbon fiber business by 25% in response to the lack of demand from client Boeing, Nikkei learned Tuesday. The job cuts will occur at Toray Composite Materials America, a subsidiary based in Washington state that employs hundreds […]
Pandemic forces 1.5 million people to delay retirement
Millions of workers approaching retirement could be forced to delay their plans as a result of the financial troubles caused by coronavirus. Pension savers have been urged not to withdraw large amounts of cash from their investment pots as they risk locking in the steep losses made by markets over […]
Goodbye Ghosn: Coronavirus forces Nissan to ditch brash doctrine
TOKYO — A total of 20,000 people who work for Nissan Motor in Europe and the U.S. are being laid off, as demand for its cars evaporates under the coronavirus pandemic. The mass layoffs are the first such cuts since the global financial crisis of 2008. Back then, the hard-nosed CEO Carlos Ghosn pulled […]