Word: nikkei
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...began to seem as if Granville might be right. Stock markets opened to a selling avalanche. Tokyo, which because of the time-zone difference is seven hours ahead of Western Europe and 13 hours in front of New York, felt the onslaught first. By the close of trading, the Nikkei-Dow Jones average, which represents 225 stocks on the exchange, had crashed 300 points, 4.1%, the biggest such drop on record...
...Tuesday, Wall Street's defiance of Granville was heard round the world. The Tokyo Stock Exchange rebounded as breathlessly as it had earlier slumped and had its best day in history; the Nikkei-Dow Jones shot up 321 points. In London, institutional investors bought heavily and lifted the Financial Times's industrial ordinary index 24.3 points by midmorning, a record climb...
...next year, Tanaka made his first trip to the Tokyo House of Detention; acquitted of the bribery charges against him, he soon resumed his rise-to Postal Minister, Finance Minister, and, at 54, the youngest Prime Minister in postwar Japanese history. By the reckoning of the Tokyo economic daily Nikkei Sangyo Shimbun, Tanaka spent no less than $34 million in 1972 in the form of loans and cash gifts to fellow members of the Liberal Democratic Party to secure his selection as party president-and hence automatically as Prime Minister...
Zaibatsu & Politics. Tokyo's business journal was born 86 years ago, just after the country itself burst from feudalism with a bang that startled the world. Nikkei's own progress to distinction was by no means as swift. A creation of one of the zaibatsu, or business cartels, that dominated Japan's early industrialization period, Nikkei struggled for years against public apathy. Its proprietors, the Mitsui interests, finally tired of their experiment in 1901, sold the paper to its staff (it remains a staff-owned paper today). When Japan attacked Pearl Harbor in 1941, Nikkei...
...Japan's postwar boom quickened a new national interest in business and financial affairs, and Nikkei at last began to grow. On the sound premise that politics and business are inseparable, Naoji Yorozu, 60, who joined the staff in 1927 and became president in 1956, improved the paper's political coverage−with such success that it is today among the best in Japan. The paper sorted out a recent Cabinet reshuffle with such concise and almost clairvoyant accuracy that it was able to name the next Foreign Minister before any other Tokyo paper...