By Reuters Staff
1 Min Read
TOKYO, March 12 (Reuters) - Japan Post Holdings Co and mobile phone operator Rakuten Inc have decided to form a capital alliance, public broadcaster NHK said on Friday.
The report drove shares in Rakuten up 7% and Japan Post up 2% in early afternoon trade in Tokyo. (Reporting by Chang-Ran Kim; Editing by Clarence Fernandez)
British shares fell on Friday, as data showed that the economy shrank by 2.9% in January, while drugmaker AstraZeneca fell after scaling back its vaccine supply forecast to the European Union.
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TOKYO (Reuters) - Japanese e-commerce firm Rakuten Inc said on Friday it would sell an 8.32% stake to postal and banking giant Japan Post Holdings Co Ltd, deepening a logistics tie-up in the face of competition from rivals such as Amazon.com Inc.
FILE PHOTO: The logo of Rakuten is pictured at the headquarters of Rakuten in Tokyo, Japan, May 15, 2019. REUTERS/Sam Nussey
Rakuten, which plunged to an operating loss in 2020, is under pressure on multiple fronts as it battles Amazon in e-commerce and takes on Japan’s cash-rich telcos with its own mobile network.
“Rakuten is the best partner for us, as it has advanced digital technology,” Japan Post Holdings Chief Executive Hiroya Masuda told a news conference.
Business software maker Oracle Corp's cloud division reported quarterly revenue that missed analysts' estimates, on increased competition from Amazon.com Inc and Microsoft Corp for cloud services due to remote working.
Number of active clients up 60% to new record IG had ‘unprecedented spike in new client demand’ (Adds share move, details on targets)
March 11 (Reuters) - Online trading platform IG reported a surge in third-quarter revenue on Thursday, thriving on the retail frenzy in stock markets this year that propelled shares in some beaten-down U.S. stocks higher.
IG, which gives retail investors leveraged access to more than 17,000 financial markets through its platform and mobile apps, said the number of active clients leapt 60% in the three months to Feb. 28 from a year ago to a record 230,100.
“The group saw an unprecedented spike in new client demand, largely in response to heightened news flow relating to certain listed U.S. stocks,” IG said in a statement on Thursday.