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. Last Updated: 07/27/2016

Yamaichi Cuts Back

LONDON -- Yamaichi International (Europe) Ltd. said Monday it has suspended 50 workers in its money-losing London securities business and will transfer some expatriate Japanese executives back to Tokyo to cut costs.

Yamaichi said it has suffered "significant losses'' in the London stock and bond business this year, but it would not quantify them. The problem is a result of high overhead expenses rather than big trading losses, Yamaichi spokesman John Sheppard said.