Finance
Japan committed to act appropriately on weak yen: finance minister
Finance Minister Shunichi Suzuki said Thursday there is no change “at all” in the Japanese government’s stance that it will act appropriately to address the weakening of the yen after it slipped past 155 to the U.S. dollar
Speaking in parliament, Suzuki said the government is carefully monitoring currency market developments but declined to comment further, amid market vigilance over a possible yen-buying dollar-selling operation to slow the Japanese currency’s fall.
“We are closely watching market developments. There is no change at all in our resolve to respond appropriately based on this,” Suzuki said.
The finance chief has repeatedly issued verbal warnings about the yen’s volatility, threatening to take appropriate action without ruling out any options.
Still, his latest comments did not suggest a change in tone, days after he said conditions were being set for “appropriate” action, without giving further details. Japan previously stepped into the currency market to arrest the yen’s sharp drop in late 2022.
Japan’s top government spokesman Yoshimasa Hayashi reiterated that currency moves should be stable, reflecting economic fundamentals.
“We are of the view that excessive fluctuations are not desirable. The government will be closely watching market developments and take all necessary steps,” said Hayashi, the chief Cabinet secretary.
The yen’s depreciation reflects a wide interest rate gap between Japan and the United States.
The Bank of Japan, which holds a two-day policy meeting from Thursday, raised interest rates for the first time in 17 years last month but the central bank is not expected to rapidly push rates higher and it has underscored the need to continue accommodative financial conditions.
The U.S. Federal Reserve, meanwhile, is now expected to cut interest rates later than initially thought, boosting the dollar further.
A weak yen inflates import costs, which contributes to higher inflation in Japan.
Related coverage:
Yen drops to 155 range, new 34-year low against U.S. dollar
BOJ to check effects of rate hike amid weak yen at policy meeting
Nikkei stock index surges over 2% on tech gains
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Finance
Women in tech and finance at higher risk from AI job losses, report says
Women working in tech and financial services are at greater risk of losing their jobs to increased use of AI and automation than their male peers, according to a report that found experienced females were also being sidelined as a result of “rigid hiring processes”.
“Mid-career” women – with at least five years’ experience – are being overlooked for digital roles in the tech and financial and professional services sectors, where they are traditionally underrepresented, according to the report by the City of London Corporation.
The governing body that runs the capital’s Square Mile found female applicants were discriminated against by rigid, and sometimes automated, screening of their CVs, which did not take into account career gaps related to caring for children or relatives, or only narrowly considered their professional experience.
To reverse the trend, the corporation is calling on employers to focus on re-skilling female workers not currently in technical roles, particularly those in clerical positions most at risk of being displaced by automation.
It is estimated that about 119,000 clerical roles in tech and the financial and professional service sectors, predominantly carried out by women, will be displaced by automation over the next decade. Reskilling those affected by these job losses could save companies from making redundancy payments totalling as much as £757m, the report found.
Upskilling staff would allow employers to focus on candidates’ potential rather than their past technical experience, the report found. It is estimated that up to 60,000 women in tech leave their roles each year for reasons including lack of advancement, lack of recognition and inadequate pay.
Dame Susan Langley, the mayor of City of London, said: “By investing in people and supporting the development of digital skills within the workforce, employers can unlock enormous potential and build stronger, more resilient teams. Focusing on talent, adaptability and opportunity will ensure the UK continues to lead on innovation and remains a global hub for digital excellence.”
Recent surveys have shown that as many as a quarter of UK workers are worried that their jobs could disappear in the next five years because of AI, according to a poll by the international recruitment company Randstad. Union leaders have called on companies to commit to investing in workforce skills and training.
The City of London Corporation found that women were being overlooked for roles even as difficulties in hiring talent meant more than 12,000 digital vacancies in these sectors went unfilled in 2024.
Companies have tried to deal with worker shortages by increasing wages above the national average, but the report found that higher pay rates would not solve the problem. It warned that the widening digital talent gap was forecast to last until at least 2035 and that under this scenario the UK could miss out on more than £10bn of economic growth.
Finance
5 takeaways from 2025’s end-of-year campaign finance reports
President Trump stockpiled millions into his super PAC, while a handful of GOP groups outraised their Democratic counterparts in the last stretch of 2025 as Republicans brace for a midterm cycle shaping up to be much like the anti-Trump 2018 midterms.
Trump’s super PAC, MAGA Inc., has more than $300 million in the bank to start off 2026, according to recent campaign filings, while the Republican National Committee (RNC) outraised the Democrats, who are working to pay off debt from the 2024 cycle.
Yet there are some bright spots for Democrats, too: Many of the party’s Senate candidates have outperformed their Republican contenders as the party looks to make inroads in the upper chamber.
Here are five takeaways from the last campaign filing reports of 2025:
Trump stockpiles millions
The president’s super PAC is starting off the year with $304 million — an impressive sum of money that demonstrates Republicans will not be without resources as they look to keep their narrow House majority and retain control of the Senate.
The super PAC’s latest filing, which covers Dec. 23 through Dec. 31, showed the president received $7.5 million from the pro-Trump dark money group Securing American Greatness Inc. and $1 million from businessman and Los Angeles Dodgers part-owner Todd Boehly, among others.
Other prominent figures who have donated to Trump’s super PAC over the past year include $12.5 million each from OpenAI president and co-founder Greg Bockman and his wife, $11 million from entrepreneur and investor Konstantin Sokolov, and $4 million from defense contractor chief executive Michelle D’Souza.
A number of prominent businesspeople and donors have given to Trump or his aligned entities, particularly for his construction of the East Wing ballroom, as different industries have looked to curry favor with the president.
RNC holds large cash-on-hand advantage over DNC
The RNC outraised the Democratic National Committee in 2025, $172 million compared to $146 million. In December, the RNC edged out its Democratic counterparts at $16 million to roughly $13 million.
The Republican Party also starts off 2026 with a nearly $100 million cash-on-hand advantage over Democrats: The GOP has $95 million in the bank to start off the year, while Democrats have $14 million cash on hand, in addition to close to $18 million in debt.
Democrats have steadily been trying to pay off debt that was accrued during former Vice President Kamala Harris’s presidential campaign in 2024. Donors in the aftermath of the 2024 election also curbed their spending to different groups amid frustration over how the presidential cycle played out and as the party looked to reset itself heading into 2026.
Across the board, however, GOP groups like the House Republican and Senate Republican campaign arms posted larger 2025 hauls than their Democratic counterparts. However, the cash on hand for the House and Senate Democratic campaign arms are nearly equal to or have narrowly surpassed their GOP counterparts.
Democratic Senate candidates largely outraise GOP challengers
If there’s one financial silver lining for Democrats right now, it’s that the party’s Senate challengers in competitive races have largely outraised their Republican contenders.
In Georgia, Sen. Jon Ossoff (D-Ga.) — seen as the most vulnerable Senate Democrat up for reelection this cycle — raised close to $10 million between October and December from his campaign. He starts off 2026 with close to $26 million in the bank.
His GOP opponents trail far behind. Former University of Tennessee football coach Derek Dooley’s campaign raised $1.1 million and has $2.1 million cash on hand. Rep. Buddy Carter’s campaign (R-Ga.) raised $1.7 million, which includes a $1 million loan to himself, and starts off this year with nearly $4.2 million. Rep. Mike Collins’s campaign (R-Ga.) raised about $825,000 and has $2.3 million cash on hand.
In Ohio, former Sen. Sherrod Brown’s (D-Ohio) campaign raised $7.3 million in the last quarter of 2025 and has nearly $10 million in the bank. Meanwhile, Sen. Jon Husted’s (R-Ohio) campaign raised $1.5 million between October and December and starts off the year with close to $6 million in the bank.
Musk starts spending ahead of midterms
Elon Musk has resumed pumping money toward GOP groups heading into the midterms, less than a year after he signaled he would pull back from political spending. The Tesla CEO gave $5 million each to two super PACs helmed by House Republican and Senate Republican leadership.
All told, Musk has given $20 million to the two political groups in 2025, highlighting how the former Trump adviser is poised to play an important role again in the upcoming election cycle for Republicans.
Musk spent millions in last year’s Wisconsin Supreme Court races, yet the liberal candidate handily won the vacant seat on the state’s high court. However, his spending helped level the playing field for Republicans.
While his spending will help the GOP, Democrats are sure to seize on his involvement, too. In the past, they have featured Musk in their advertising, such as showcasing his chainsaw-wielding appearance during last year’s Conservative Political Action Conference (CPAC), in an effort to boost turnout among their voters.
Filings offer insight into contested Senate primaries
The campaign finance filings also offer some clues about the fundraising strength of candidates in contested Senate primaries.
Progressive oyster farmer Graham Platner, who was mired in controversy last year over past social media posts, raised $4.6 million in the last quarter of 2025 from his campaign and has $3.7 million in the bank. Meanwhile, centrist Maine Gov. Janet Mills’s (D) campaign raised $2.7 million in the last quarter and starts off this year with $1.3 million.
In Texas, Rep. Jasmine Crockett (D) and state Rep. James Talarico (D) posted similar fundraising hauls — $6.5 million and nearly $6.9 million, respectively. Most of Crockett’s haul came from transfers from her House campaign. Talarico’s campaign also posted a cash on hand advantage — $7.1 million to Crockett’s $5.6 million.
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