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— Japan reported its first annual trade deficit since 1980 as it imported expensive energy to offset the impact of its devastating tsunami and exporters grappled with the rising value of the yen.
The 2.49 trillion yen ($32 billion) shortfall for 2011 reflects a 2.7 percent decline in the value of Japan’s exports to 65.55 trillion yen ($843 billion). In December, the trade balance was a deficit of 205.1 billion yen, according to the Finance Ministry figures released Wednesday.
A major factor behind the figures was the impact of the expensive energy imports Japan turned to after the March disaster touched off a nuclear crisis and led the country to shut down, or not restart, a large portion of its reactors, said Martin Schulz, senior economist with the Fujitsu Research Institute.
He said pressure to import energy will continue to weigh heavily on Japan for the next year, but will subside as the country pursues greater efficiency measures.
He also said the drop in the value of exports also reflects that Japan is shifting toward overseas production.
“Japan’s exports are really focused on high value exports and this market is fairly strong,” he said. “
Club Med, renowned the world over for providing all-inclusive vacation packages, is now wading into the luxury property market. Its first offering is a chalet development in the ski region of Valmorel, France that epitomizes the company’s philosophy of luxurious living. Apartment buyers will be able to take advantage of all included amenities like restaurants, bars and ski passes as well as have the freedom to exchange spaced for vacations with other owners in the growing Club Med network. Club Med execs say the added perks amount to a value of €50,000 for a family of four. For more on this continue reading the following article from Property Wire. Club Med has launched its first ever luxury chalet and apartment development in the ski-ing resort of Valmorel, France. The company, which was founded with the aim of offering all inclusive holiday packages based on the values of friendliness, happiness and nature, has decided to build luxury villas and apartments and sell them to property investors who could enjoy the same kind of values that holiday makers had enjoyed for half a century. Clu Read more…
— Royal Philips Electronics NV has warned that its fourth quarter profits were worse than expected due to a weak European market that made it difficult to charge customers as much as it wanted to for light bulbs.
Philips, the world’s largest lighting maker, is due to report full earnings on Jan. 30.
The company said free cash flow would be euro1 billion ($1.28 billion) compared with euro1.2 billion a year ago. Sales grew by a “mid single digit” amount, but margins slipped, the company said.
Operating profits in the fourth quarter were around euro500 million at a margin of at least 7 percent of sales, Philips said. In the same period a year ago, operating profit was euro662 million at a margin of 9.1 percent.
Shares fell 6 percent to euro14.715 in early trading in Amsterdam.
“Our expected fourth quarter financial results have been affected by the weakness in Europe, which has impacted our health care business, as well as pricing in our consumer lighting business,” said Chief Executive Frans van Houten in a statement.
“We have taken measures to address our inventory situation in the lighting business, which also had an impact on earnings for the quarter,” Van Houten said.
Philips also competes with Siemens AG and General Electric Co. i
The U.S. cost of living is rising and more soon-to-be retirees are taking note of it when thinking about where they want to invest their retirement dollars. While a dollar may buy less in America, there are more places than ever where that money goes a long way and then some. International Living’s 2012 Retirement Index takes a look at the World’s Top 10 places for retirement. Just a few places that offer favorable tax laws, easy access to expats and great value for the money include Ecuador, Panama, Nicaragua and Honduras. For more on this continue reading the following article from International Living. In the States today, the discussion about retirement orbits around how much less of it we’re all going to have. While the cost of everything from healthcare to food swells… incomes, pensions and nest eggs erode, leaving baby boomers fewer and fewer options for retirement at home. But look at the right places beyond our borders today, and you’ll find you have more good choices than ever for a comfortable – even a pampered – retirement. In any one of Read more…
TUCKER, GA – 
U.S. Poultry & Egg Harold E. Ford Foundation (USPOULTRY Foundation) announces the appointment of Dr. John Glisson as Director, Research. He succeeds Dr. Henry Marks, who is retiring. Dr. Glisson will administer the Association’s comprehensive research program that encompasses all components of poultry and egg production and processing. He will work with the Foundation’s Research Advisory Committee, receiving and evaluating research proposals and making recommendations to the board of directors for funding approval. Over $22 million has been invested in research funding over the last 20 years.
Among Dr. Glisson’s extensive experience, he recently retired as Head of the Department of Population Health at the University of Georgia, was Head of the Department of Avian Medicine, and was Associate Dean of Public Service and Outreach at the University of Georgia’s College of Veterinary Medicine.