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TOKYO (Reuters) – Shares in Japan’s big telcos jumped on Tuesday after market leader NTT Docomo announced smaller-than-feared price cuts, alleviating concerns about a profit-dampening price war gucci cufflinks amazon. NTT Docomo shares were up 3.5 percent in early Tokyo trading, with KDDI Corp up 5.6 percent and SoftBank Corp up 2.7 percent. Japan’s big three telcos are under government pressure to reduce carrier fees to help stimulate consumer spending in other parts of the economy. The market entry of Rakuten in October is also likely to increase price pressure..
After market close on Monday, NTT Docomo said it would cut carrier fees by as much as 40 percent gucci cufflinks amazon. Many of its users will not see reductions of that scale and the new price plans, widely seen as complex, do not include handset fees. “We don’t see a large negative impact on (NTT Docomo’s) earnings and see a low probability of other companies responding with large price cuts,” SMBC Nikko analyst Satoru Kikuchi wrote in a note. Despite the jump, shares in SoftBank Corp, which listed in December, continue to trade below their IPO price..
GWANGJU, South Korea (Reuters) – Park Byung-kyu once led Kia Motor’s union in the city of Gwangju, fighting for labor protections against the powerful, family-run chaebol that dominated the economy during South Korea’s rapid industrialization. But about 20 years ago, Park was assaulted by unionized workers wielding steel clubs after he campaigned for the rights of temporary workers at another company, leaving him paralyzed on the right side of his body. The attack also left him disillusioned with the approach of South Korea’s forceful and often militant unions, which have faced increasing criticism for protecting their interests at the expense of other workers gucci cufflinks amazon.
Now, Park is working for the city of Gwangju on a proposed joint venture with Hyundai Motor Co to build a new low-wage car factory, Hyundai’s first new factory in South Korea in 25 years. The $616 million plant would create 1,000 jobs, but at less than half the wages of Hyundai’s unionized workers and without many of the privileges they currently enjoy. “The labor unions with vested interests should change. If not, their interests will be taken away,” said the 53-year-old Park. “Unionized labor should face up to the reality.” gucci cufflinks amazon.
The unions of Hyundai and affiliate Kia Motors, which together form the world’s fifth-largest automaker by volume, have staged strikes and rallies to protest the plant. They say it will create “bad jobs” and take away production and employment from existing factories. But in a city that has seen a steady exodus of manufacturing jobs move to low-cost countries, many job seekers say they would work for the plant in a heartbeat gucci cufflinks amazon. Employment is a key focus for President Moon Jae-in’s administration as Asia’s fourth-largest economy struggles to create jobs in the face of a slowing China economy, U.S. trade protectionism and increased minimum wages..