More than 1 million people unable to make transfers
Resona Bank warned it was possible transaction requests would not be completed on Tuesday as it was not possible to transfer funds to any other bank. (So if Japanese need to pay bills they are unable if they use this bank)
MUFG Bank, the country's largest bank, said it was unable to complete transfers to other banks requested online and using ATMs, including those at some convenience stores.
The so-called Zengin system is used by most of Japan's banks, with 6.5 million transactions worth $81 billion being processed by the system every day.
No mention of this in any western media outlets. 1st failure in its 50 years of existence.
Producer Price Index (PPI) September 2023: - CNBC
https://www.cnbc.com/2023/10/11/ppi-september2023-.html
On a year-over-year basis, headline PPI increased 2.2%, the largest move since April. Also above the market prediction of 1.6%
Core Inflation (Federal Reserve looks at this more) up 2.6%.
Redbook Index in the United States measures retail sales. Redbook Index increased by 4 percent in the week ending October 7 of 2023 over the same week in the previous year. This shows current resilience in the retail market with higher retail sales than inflation
https://tradingeconomics.com/united-states/redbook-index
PPI Higher Than Expected, Japan Interbank System "Glitch" | Nobody Special Finance https://www.youtube.com/watch?v=ANaztO19qbg
Japan's Zengin interbank data system "glitch" delays transfers at 11 banks for 2nd day in a row affecting $81B (x2) of interbank transfers https://www.upi.com/Top_News/World-News/2023/10/10/Japan-electronic-clearing-network-glitch-hits-banks/5951696940757/
More than 1 million people unable to make transfers
Resona Bank warned it was possible transaction requests would not be completed on Tuesday as it was not possible to transfer funds to any other bank. (So if Japanese need to pay bills they are unable if they use this bank)
MUFG Bank, the country's largest bank, said it was unable to complete transfers to other banks requested online and using ATMs, including those at some convenience stores.
The so-called Zengin system is used by most of Japan's banks, with 6.5 million transactions worth $81 billion being processed by the system every day.
No mention of this in any western media outlets. 1st failure in its 50 years of existence.
Producer Price Index (PPI) September 2023: - CNBC https://www.cnbc.com/2023/10/11/ppi-september2023-.html On a year-over-year basis, headline PPI increased 2.2%, the largest move since April. Also above the market prediction of 1.6% Core Inflation (Federal Reserve looks at this more) up 2.6%.
August 2023 year-over-year PPI numbers revised. Raised from 1.6% to 2.0%. No news agency is talking about this. https://www.bls.gov/news.release/ppi.nr0.htm
REUTERS Finland says 'outside activity' likely damaged gas pipeline, telecoms cable https://archive.ph/DRqzi
(Apr-27-2023) Samsung Profits Plunged 95% on Lagging Demand, Memory Price Erosion https://www.tomshardware.com/news/samsung-profits-plunge-q1-2023
(Oct-11-2023) CNBC - Samsung Electronics expects third quarter profit to plunge 78% but shares surge https://www.cnbc.com/2023/10/11/samsung-electronics-expects-third-quarter-profit-to-plunge-78percent.html
Redbook Index in the United States measures retail sales. Redbook Index increased by 4 percent in the week ending October 7 of 2023 over the same week in the previous year. This shows current resilience in the retail market with higher retail sales than inflation https://tradingeconomics.com/united-states/redbook-index