The strength of the yen, Japan is dragging down exporters

Falls on Wall Street followed the discovery of many Asian markets down on Friday.
Japanese benchmark Nikkei 225 shed 1.48% or 221.56 points to 15,516.17 at the start.

The strength of the Japanese yen in putting pressure on the stocks of exporting companies. The yen rose to a 17-month high against the US dollar overnight.

The failure of the American currency should be the release of the Fed minutes.

Protocols, published earlier this week pointed to concerns about the limited ability of the US central bank to address the global economic downturn.

US stocks closed lower overnight on renewed fears about the state of the world economy.
Over in South Korea's benchmark Kospi index also opened down 0.65% or 12 points to 1,961.10.
In Australia, S & P / ASX 200 test started Friday's trading session in negative territory, giving up 50 points, or 1%, and the index is around 4,915.70.

Tata offers its UK plants for sale

Port Talbot Steel Works

Tata Steel begins the formal process of selling its unprofitable UK plants, invites all interested bidders to submit their proposals.

Until now, the only company that has publicly expressed interest in Liberty Steel, owned by Sanjeev Gupta.

Thousands of workers in England and Wales at risk of losing their jobs if the deal can not be struck.
However, the BBC understands that the city investment firm agrees to buy the Tata Scunthorpe plant on Monday.

Greybull Capital is in talks to buy the business for several months, and is expected to invest up to £ 400 million.

This step will ensure that more than 4,000 jobs, but workers are asked to take a pay cut and less generous pension arrangements.

'Risk'

At the same time, Mr. Gupta said in an interview Sunday Telegraph, that he felt like "a very clear opportunity to turn things around, earn money and build a sustainable business."


But he added: "I feel passionately about this and would like to do it, but I'm not married to him.
"It's too big thing for us to get wrong. This may put the entire company at risk."

Tata is known to want a quick sale. Business Secretary Sajid Javid said last week after talks in India that Tata told him that it would allow a "reasonable amount of time" for the sales process.

He added that he expected that the other interested parties to come forward after the formal sale process began.

Sajid Javid met the chairman of Tata Cyrus Mistry for the first time since the company announced the sale last week.

UK steel crisis

Mr. Javid, who was on a business trip to Australia, when Tata first announced it plans to sell its British Steel, is under pressure over its handling of the crisis.

Business Secretary admitted that he was caught by surprise the announcement of Tata, says the BBC that while he knew, the company is reviewing its operations in the UK, the company went "well beyond what we expected."

Trade unions accuse the business secretary of "taking his eye off the ball" and called on him to resign, if the buyer is not found for the steel.

Tata Steel directly employs 15,000 workers in the UK, through the plants at Port Talbot, Rotherham, and the Corby Shotton, and supports thousands of jobs.

German group ThyssenKrupp are also reported to be interested in the acquisition of the operations of Tata Steel UK.

Tata Steel said that there is "no fixed timeline" for the sales process, but stressed that the urgency required, in order to avoid "a long period of uncertainty" for employees and customers.

Steel industry crisis was due to a fall in prices and a global oversupply. In the UK, high energy prices and cheaper Chinese imports have exacerbated the problem.

EU to large firms honest tax

Google in Dublin HQImage copyrightGetty ImagesImage captionGoogle is one of the largest companies, required for the disclosure of tax information in accordance with the rules
Plans to make the largest companies to disclose more information about their tax affairs will be presented to the European Union on Tuesday.

British European Commissioner, Lord Hill, is set to introduce rules that will affect the international company with more than € 750m (£ 600m) in sales.

They will have to detail how much tax they pay and what the EU.

The plans come on the background of a thorough audit of the use of tax havens following revelations Panama documents.

transparency

Lord Hill, the EU financial services commissioner, said: "This is a well thought out, but ambitious proposal for greater transparency in tax.

"While our offer [from country to country reports], of course, is not primarily focused on the response to the Panama documents, there is an important connection between our ongoing work on tax transparency and tax havens, which we are building in the sentence."

Country-by-country reporting rules already apply to banks, mining and forestry enterprises, in accordance with EU spokesperson.

Under the new proposals, which will be expanded to cover companies which accounted for about 90% of corporate income in the EU, they added.

The BBC understands that companies will have to disclose information such as the total turnover, profit before tax, income tax payable, the amount of tax actually paid and accumulated profit.

The changes come after the G20 leaders agreed to follow OECD action plan to address the minimization of income taxes.

Anbang raises offer for Starwood to $ 14 billion

Image captionStarwood owns several hotel brands including the Sheraton,
China Anbang Insurance Company has raised its offer for Starwood Hotels to $ 14 billion (£ 9.8 bn) expansion of a bidding war with the Marriott group.

Last week, Marriott, seemed to interrupt Anbang proposal to $ 13.6bn, which was supported by the Council in Starwood.

In a statement, the Starwood Board said the new proposal is likely to lead to a "superior" proposal.
The Council, however, has not changed its recommendation in favor of the merger with Marriott.
Starwood owns several hotel brands, including Sheraton, Westin and St Regis.

Under the terms of an agreement with Marriott, Starwood board may discuss and provide information to bidders, who make excellent rates.

But in his final merger agreement with Marriott, Starwood will have to pay a fee at the Marriott in the Decay of $ 450m, if he decided to take a different proposal.

Anbang, whose consortium includes private equity firms JC Flowers & Co and Primavera Capital, making a push into the US market during the past few years.

He bought the Waldorf Astoria hotel in New York in 2014.
Starwood shares rose 2% on Monday to $ 83.75 on a higher Anbang sentence.

Yellen: Fed should "proceed with caution" with an increase in rates

The US Federal Reserve chair Yellen system said that the Fed should "proceed with caution" before raising interest rates.

She said that global risks were not to have a profound impact on the US, but caution is still needed.

Global changes and risks have led politicians to draft a slower path of rate increases than initially expected in December, said Ms. Yellen.

US markets rose during his speech at the Economic Club of New York.

Her tone was similar to the Fed's statement in mid-March, when the central bank has not made any bid changes and guided the expectations with respect to the slower increase after the increase in December.

Ms. Yellen repeated his message from previous pubic speech that volatile oil prices and a slowdown in China, along with the way in the near future inflation will reach 2% target by the Federal Reserve, are the key factors governing the Fed to adopt a gradual approach to higher rates.

Omer Esiner, chief market analyst at Commonwealth Foreign Exchange, said that her caution was not surprising, but stood in contrast to the support for rate increases from other Fed speakers in recent days.

He added: "Ultimately, the comments [Yellen to] sound is not consistent with the looming hike rates in April and leave considerable doubt about whether the increase rates in June.

Earlier Tuesday, the head of the San Francisco Fed, John Williams, said that the US economy is doing "quite well."

As it has done in previous speeches, Ms. Yellen believes that the market should be open to the possibility of the news, which increases confidence.

"We must not ignore the greeting probability that economic conditions may be more favorable than we now expect," she said.

Audiences in New York laughed when Ms. Yellen was asked how long the Fed is expected to take to reach "normal" interest rate and whether she felt the market was not able to understand the bank's plan.

The Fed is trying to reassure markets of its "gradual" plan since the entry into force in December.

After the speech, Ms. Yellen, in a Wall Street rose sharply. S & P 500 rose 0.8% and the Nasdaq jumped 1.5%, while the index Dow Jones Industrial Average added only 0.1%.

Unconventional Instruments

Although the focus of his speech was on the interest rate, Ms. Yellen also consider other tools the Fed has at its disposal, if the US economy were to suffer a decline.

These innovative tools - including asset purchases, forward direction and negative interest rates, which have been used in Europe - have been criticized for helping the banks, not to stimulate the economy.

Ms. Yellen defended the use of these tools, saying they have helped prevent the recession to become worse.

"They were an effective policy, they have made a difference, and inflation could be lower and unemployment is higher - from the significant amounts - if we did not use this policy," she said.

Foxconn modify absorption Sharp

Imaginary walk before Sharp AQUOS "s flat-panel TVs in an electronics store in Tokyo, Thursday, February 25, 2016Image copyrightAP

captionSharp Image struggling with heavy debts and went through two main injections
Taiwanese manufacturer Foxconn says it has finally agreed to take on the struggling Japanese electronics company Sharp.

Foxconn said the deal is worth 389bn yen ($ 3.5bn, £ 2,4 billion) and give her a 66% stake in Sharp.

The Foxconn, which assembles most of the iPhones in the world, for the first time offered to invest in the troubled Japanese company in 2012, but the negotiations failed.

Both companies said that the deal will be signed on April 2nd.

This will be the first foreign capture of a major Japanese electronics firm.

Describing himself as a "world-class leaders in the technology industry", the Foxconn and Sharp announced that they will form a "historic strategic alliance."

The innovative firm

Established in 1912, Sharp is one of the oldest Japanese technology firm.

Japanese officials are reluctant to let it fall under foreign ownership because of the distinctive technology behind its display panels.

Prior to the announcement of the deal with Foxconn, Sharp discussing competing proposals from the government-backed consortium of Japanese investors.

Although in recent years there has been decline in his life, the company is still the leader in LCD technology, a key asset for Foxconn.

In 2012, Sharp was close to bankruptcy input. He is struggling with heavy debts and went through two main injections for the past four years.

Sharp innovations include mechanical pencil in 1915 and innovative developments in television technology.