Bloomberg Markets and Finance published this video item, entitled “Biggest Japan Bank Joins Nomura in Bracing for Archegos Loss” – below is their description.
Mar.30 — Shares in Japan’s largest bank are falling in Tokyo. Mitsubishi UFJ Financial Group Inc. warned of a potential $300 million loss that sources say is linked to Archegos Capital Management. Bloomberg’s Adam Haigh reports on “Bloomberg Daybreak: Asia.”
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Bloomberg Markets and Finance features news about financial markets from around the world. Bloomberg L.P. is a privately held financial, software, data, and media company headquartered in Midtown Manhattan, New York City. It was founded by Michael Bloomberg in 1981, with the help of Thomas Secunda, Duncan MacMillan, Charles Zegar, and a 12% ownership investment by Merrill Lynch.
Japan is an island country in East Asia located in the northwest Pacific Ocean. Part of the Pacific Ring of Fire, Japan comprises an archipelago of 6,852 islands covering 377,975 square kilometers (145,937 sq mi); the country’s five main islands, from north to south, are Hokkaido, Honshu, Shikoku, Kyushu, and Okinawa. Tokyo is Japan’s capital and largest city.
Japan is divided into 47 administrative prefectures and eight traditional regions. The Greater Tokyo Area is the most populous metropolitan area in the world, with more than 37.4 million residents.
Japan is a great power and a member of numerous international organizations, including the United Nations (since 1956), the OECD, and the G7. Japan is a leader in the automotive and electronics industries.
Tokyo, Japan’s busy capital, mixes the ultramodern and the traditional, from neon-lit skyscrapers to historic temples. The opulent Meiji Shinto Shrine is known for its towering gate and surrounding woods. The Imperial Palace sits amid large public gardens.