Japanese stocks surged to a record high on Monday following Prime Minister Sanae Takaichi's Liberal Democratic Party (LDP) securing a historic election victory. The LDP won 316 out of 465 seats in Sunday's election, marking the first time a single party has won a two-thirds lower house majority since Japan's parliament was established in its current form in 1947, according to BBC World and BBC Business.
The Japan Innovation Party, the LDP's coalition partner, secured an additional 36 constituencies, bringing their combined total to 352 seats. The Nikkei 225 briefly surpassed 57,000 for the first time after the election, as reported by BBC World and BBC Business. The resounding mandate is a gamble.
In other business news, the affordable make-up brand Barry M was bought out of administration by Warpaint, a company that produces cosmetics for men. The family-run firm, founded in north London in 1982 by Barry Mero, collapsed earlier this month. Warpaint acquired the Barry M name for 1.4 million, according to BBC Business. However, the deal does not protect over 100 staff who worked at Barry M or its factory. Barry M was a favorite among make-up fans and drag queens for its eye-catching colors and was stocked in around 1,300 shops across the UK.
Meanwhile, plane makers are chasing Asia's super-rich with luxe new private jets. Gulfstream's G700, with its clean lines, sweeping wings, and wide oval windows, is among the most eye-catching aircraft at the Singapore Airshow, Asia's largest aviation and defense trade fair. The aircraft, which can cost tens of millions of dollars, has drawn long queues of visitors, indicating the enduring interest in private jet manufacturers, according to BBC Business.
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