Royal Philips NV’s dispute with Funai Electric Co. over the botched sale of its Lifestyle Entertainment multimedia-products unit intensified after the Japanese competitor filed a counterclaim in arbitration court.
Japanese lawmakers from the ruling Liberal Democratic Party submitted a bill to legalize casinos to parliament, bringing the nation closer to opening up what is estimated to be the world’s second-largest gaming market.
U.S. stocks fell a third day amid concern an improving economy will cause the Federal Reserve to reduce monetary stimulus, while 10-year Treasuries advanced as the central bank bought debt. The pound climbed to near a two- year high against the dollar and crude oil surged.
The Michelin Guide cut the number of Tokyo restaurants with its highest rank by one, reducing three- star winners for the second year in a city that’s home to more top-rated eateries than any other worldwide.
Prime Minister Shinzo Abe vowed to push through an unpopular bill strengthening Japan’s secrecy laws that will help him shore up security ties with the U.S. in a bid to counter China’s growing military muscle in the region.
Panasonic Corp. is in talks with automotive parts makers for possible acquisitions or alliances as Japan’s No. 2 television producer seeks to expand the components it delivers to vehicle manufacturers.