Headlines

Japan's bankruptcy cases rose in January as companies struggled with rising labour costs in a tight job market, a private survey showed on Monday, a sign of how increasing pay was hitting smaller firms, Reuters reported. Separate data showed real wages fell 0.1% in December from a year earlier, much slower than a 1.6% drop in November, as inflation eased and workers saw a steady gain in bonuses. Bankruptcy cases rose 5.6% in January to 887 from a year earlier, the highest level for the month in 13 years, a survey by private think tank Tokyo Shoko Research shows.

The South Korean SMEs and Startups Agency (KOSME) said on Feb. 8 that it will fully roll out the Small and Medium-Sized Corporations Crisis-Overcoming Alert Service to proactively prevent management crises at small and medium-sized corporations, Chosun.biz reported. The service was presented as a key task in a briefing by agencies under the Ministry of SMEs and Startups on the 12th of last month.

The Il-san mixed-use cultural complex "One Mount" has effectively entered the path to bankruptcy. It comes 1 year and 6 months after the court opened rehabilitation proceedings. If bankruptcy is finalized, there is concern that lessors who purchased units and commercial tenants may not be able to recover their investment funds and deposits, Chosun.biz reported. According to legal sources, the Seoul Bankruptcy Court on Feb. 5 decided to discontinue rehabilitation proceedings for One Mount.

South Korea's financial market watchdog said on Monday local exchange Bithumb's unintentional giveaway of more than $40 billion in bitcoin to customers raises the need for tougher regulations to address the vulnerabilities of cryptocurrencies, Reuters reported. The cryptocurrency exchange said on Saturday it had accidentally given away the bitcoin to customers as promotional rewards, triggering a sharp selloff on the exchange.

The future of Eddie Bauer’s Canadian stores is hinging on whether the company can find a buyer, the Canadian Press reported. The apparel retailer announced on Monday that it is looking to sell the 220 stores it has across Canada and the U.S. after filing for bankruptcy protection south of the border. It said a similar filing was impending in Canada, where its website listed 31 stores, predominantly in Ontario. Eddie Bauer LLC said locations on both sides of the border will remain open, but host liquidation sales as the court processes get underway and the company seeks a potential buyer.

Chinese automaker BYD has filed a lawsuit against the U.S. government challenging President Donald Trump's bid to use ​sweeping authority to impose tariffs, and requesting a refund for ‌all levies it paid since last April, court documents show, Reuters reported. The lawsuit, the first by a ‌Chinese carmaker over U.S. tariffs, follows similar complaints by thousands of global companies with U.S. operations challenging Trump's use of the International Emergency Economic Powers Act (IEEPA) to impose border taxes. In the lawsuit filed at the U.S.

India’s central bank kept its policy rate unchanged as a U.S.-India trade deal eased a key economic headwind, for now, the Wall Street Journal reported. The Reserve Bank of India on Friday voted unanimously to hold its policy repo rate at 5.25%, pausing after December’s rate cut. The RBI also voted to keep its monetary policy stance neutral. “Amidst heightened geo-political tensions and elevated uncertainty, the Indian economy is in a good spot with strong growth and low inflation,” and the monetary policy committee considers the current policy rate “appropriate”, RBI Gov.

Bank of France Governor Francois Villeroy de Galhau will stand down in June, more than a year before the end of his term, allowing President Emmanuel Macron to name his replacement before a 2027 presidential election that the far-right could win, Reuters reported. Villeroy has been a consistent voice for lower interest rates in the European Central Bank's governing council, although analysts expect his successor to adopt a similar stance.

President Trump spent much of last year courting foreign investment in U.S. factories, promising to replace jobs lost to the global economy. The rise of a Chinese automotive glass plant in the Ohio heartland shows the risks when America’s biggest rival sets up shop, the Wall Street Journal reported. Ohio’s governor, along with state and federal lawmakers, welcomed Fuyao when the Chinese glassmaking giant took over a closed General Motors factory a decade ago. The project, supported by Ohio taxpayers, was hailed as a step to reviving a battered Rust Belt region. Now, many feel duped.