Hong Kong’s Cathay Pacific posts first annual loss since 2008, shares drop

Cathay Pacific Airways on Wednesday reported its first full-year loss since the 2008 global financial crisis, dragged down by overcapacity, a strong Hong Kong dollar and mounting competition from mainland Chinese carriers. Shares of Hong Kong’s flag carrier fell...

South Korea prosecution begin probe of Lotte Group, SK Group: Yonhap

South Korean prosecutors started investigating domestic conglomerates Lotte Group and SK Group as part of a wider probe into a graft scandal that led to Park Geun-hye’s removal from the presidency, Yonhap news agency reported on Wednesday. Yonhap, citing...

Abenomics setback: Workers at Japan’s top companies get meager 2017 pay hikes

Most major Japanese companies offered the lowest hike in base pay in four years on Wednesday, a setback for Prime Minister Shinzo Abe’s campaign dubbed “Abenomics” to spur the long-sluggish economy. Toyota Motor’s base pay hike, traditionally a...