Fukoku Life Plans to Step Up Japanese Government Bond Purchases
The insurer has raised its local bond purchase target for the current fiscal year to several hundred billion yen from the initially planned 30 billion yen, and is focusing on Japanese government debt to capitalise on higher super-long-term interest rates.
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A Fed governor is resigning, opening a spot for a Trump appointee
A member of the Federal Reserve's Board of Governors announced Friday that she is resigning several months before the end of her term, handing President Donald Trump an early opportunity to fill a key vacancy. Fed Governor Adriana Kugler is stepping down from her role, effective August 8. She was appointed by former President Joe Biden in 2023 and her term was slated to end in January 2026. The Fed did not cite a reason for her departure. 'It has been an honor of a lifetime to serve on the Board of Governors of the Federal Reserve System,' Kugler said in a statement. 'I am especially honored to have served during a critical time in achieving our dual mandate of bringing down prices and keeping a strong and resilient labor market.' Trump claimed to reporters on Friday that Kugler was resigning because of the Fed's stance on interest rates. 'I understand it was over the fact that she disagreed with somebody from her party …she disagreed with 'Too Late' on the interest rate,' he said. Trump has taken to calling Fed Chair Jerome Powell 'Too Late' because the president wants Powell to cut interest rates. Fed officials have held interest rates steady so far this year. Trump did not offer any evidence to back his claim. But, he said, he was 'very happy' about having an open spot on the Fed Board. Kugler was absent from the Fed's latest meeting, in which officials voted to hold borrowing costs steady for the fifth consecutive time. Trump has bashed the Fed for months because the central bank hasn't lowered interest rates this year, and Kugler's resignation means he will soon be able to install a new voice at a time when policymakers are unusually divided. And whoever Trump picks will then be eligible to be the next Fed chair, if they're confirmed by the Senate to serve on the Fed's board. According to Fed rules, the chair can be chosen only among the current members of the Fed's board. Treasury Secretary Scott Bessent has said the administration is already actively searching for Powell's successor. Contenders for the top job at the central bank include Bessent himself; Kevin Warsh, a former Fed governor; Christopher Waller, a current Fed governor; and Kevin Hassett, the director of the White House's National Economic Council. But even when Powell's term as chair ends next year, he could still stay on the board, meaning Trump's choices for Fed chair will be limited to the current members of the board. Fed chairs technically have three jobs: member of the Fed's Board, chair of the Board of Governors and chair of the Federal Open Market Committee (FOMC). The FOMC is the Fed group that sets interest rates, and the chair is voted into their position by committee members. It's legally unclear if Trump has the power to demote Powell and elevate another governor as chair. Powell's term as a Fed governor ends in 2028. In a news conference Wednesday after the Fed announced its latest decision, Powell refused to say if he intends to remain on the board after his term as chair ends.
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Nintendo's Switch 2 Sales Near 6 Million
Sales for the Nintendo Switch 2 consoles have reached 5.82 million since its June 5 release, the Japan-based video game giant revealed along with its latest earnings results Friday. 'Looking at hardware sales volume in the first quarter of this fiscal year, Nintendo Switch 2 sales totaled 5.82 million units, and Nintendo Switch sales declined 53.5% year-on-year to 0.98 million units,' Nintendo stated in English-language explanatory materials accompanying the financials. 'Nintendo Switch is now in its ninth year since launch, so a year-on-year decline in sales is expected, but it continues to show stable sales.' More from Variety Apple Services Revenue Grows 13% to New Record, Earnings Massively Beat Street Amid Trump Tariff Uncertainty Amazon Beats Q2 Expectations as Revenue Rises 13% to Nearly $168 Billion Roku Drives Up Revenue 15%, Turns in Surprise Profit in Solid Q2 Earnings Beat Nintendo's Switch 2-specific game sales have hit a modest 8.67 million, which Nintendo attributes to 'the fact that many consumers purchased the hardware bundled with 'Mario Kart World,' and that there was a wide variety of titles from other software publishers.' Nintendo Switch software sales stood at 24.40 million units, a decline of 20.4% from the comparable period in 2024. However, it should be noted that Nintendo says, 'because Nintendo Switch 2 can play Nintendo Switch titles, the people purchasing Nintendo Switch software include not only owners of Nintendo Switch, but also people who have bought Nintendo Switch 2.' More to come… Best of Variety New Movies Out Now in Theaters: What to See This Week What's Coming to Disney+ in August 2025 What's Coming to Netflix in August 2025
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Kia's Carnival, Sportage, And Telluride Set New Sales Records In July
Kia's Carnival, Sportage, And Telluride Set New Sales Records In July originally appeared on Autoblog. Kia is on track for its best-ever annual sales Kia's positive sales momentum continued into the second half of 2025, with the manufacturer reporting a 12% increase in year-on-year sales in July. Together with Hyundai, the Korean brands had a stellar end to the second quarter, while Kia's sedans are seeing sales growth that's outpacing its SUVs. Last month, three Kia models achieved their highest-ever sales for July, and one of them was a minivan. Brilliant July For Carnival, Sportage, And Telluride View the 3 images of this gallery on the original article While the success of the Sportage and Telluride are no surprise given the market's appetite for SUVs, the Carnival's best-ever July continues a trend of soaring minivan sales this year. SUVs may be better at off-roading, but they can't match the interior space utilization of a classic minivan. The Carnival's sales hit 5,928 units last month, a 30% increase over July 2024. Sportage sales were up 14% to 14,392, while the Telluride jumped by 15% to 10,411 units. Considering that we're not far from a new-generation Telluride, it's particularly impressive that this three-row crossover managed to hit its best-ever July sales so late into its life cycle. The Sportage remains Kia's best-selling individual model in the United States, surpassing 100,000 total sales for the year last month. Despite the 2026 model being pricier, it should easily remain Kia's best-selling model. Most Other Kias Had A Better July, But Not The EVs Elsewhere in Kia's lineup, July 2025 sales were generally better compared to a year ago. The K4/Forte managed 11,188 units (10,448 in July 2024), the K5 hit 5,879 units (up from 4,713), and the Sorento sold 7,965 units (up from 7,206). The EV6 found 1,290 homes, down from 1,547 a year ago, while the EV9 sold 1,737 units, down from 1,815. Despite these declines, Kia still sold way more cars in July 2025 (71,123) than a year ago (63,580). 'Kia is steadily progressing toward its highest annual sales record and an all-time high market share, fueled by record-breaking consumer sales growth,' said Eric Watson, vice-president, sales operations, Kia America. 'As our SUV lineup maintains double-digit growth month after month, we recently rolled out a new ad campaign for the 2026 Sportage, which offers the ideal combination of efficiency and capability. As Kia's longest-running nameplate, our customers have a strong sense of connection to Sportage, and we are fostering similar connections between our customers and other models.' Strong sales and a favorable trade deal between the United States and South Korea should see Kia end the year on a high note, with best-ever annual sales in this region. Kia's Carnival, Sportage, And Telluride Set New Sales Records In July first appeared on Autoblog on Aug 1, 2025 This story was originally reported by Autoblog on Aug 1, 2025, where it first appeared.
