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Japan’s Pioneer to get $538 million bailout from Baring

Bloomberg Pioneer Corp., once among the world’s hottest names in technology before succumbing to debt and failed expansions, agreed to a bailout from Baring Private Equity. Baring Private Equity will buy as much as $538 million of stock in the Tokyo-based company, according to a filing. But its shares fell 9.3 percent to their lowest in nine years after the ...

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Tokyo prosecutors indict 2nd firm in ‘data scandal’

Bloomberg Mitsubishi Materials Corp. became the second Japanese firm to be indicted by Tokyo prosecutors for falsifying product data, in a scandal that has rocked the nation’s prized reputation for manufacturing prowess. Three units of the Tokyo-based company — Mitsubishi Aluminum Co., Diamet Corp. and Mitsubishi Cable Industries Ltd. — were indicted on suspicion of breaching Japan’s unfair competition law, ...

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Indonesian govt wants tighter FX rules on exporters to help rupiah

Bloomberg Indonesian exporters must keep their earnings in the country to support efforts by the government to rein in the current-account deficit and shield the rupiah, Finance Minister Sri Mulyani Indrawati said. While legislation protects the free movement of capital, authorities want to tighten some rules on exporters amid a rout in the currency, Indrawati said. “In a situation in ...

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