Topic: Tokyo

Recession Junkie

Unlike recession-battling U.S. President Barack Obama, Japanese PM Yukio Hatoyama doesn't need to beg China for loans to fund his deficit spending. Because he and his fiscally expansive ministers have underestimated how much money they will have to spend on handouts they ...

Japan's jobless desperate as recession drags on

TOKYO (Reuters Life! ) - Kamematsu Morimoto had a job that comfortably supported his family of six in Japan's car manufacturing hub until the global economic crisis struck, leaving him, and thousands of others, without work.In the midst of Japan's worst recession ...

Record deflation in Japan may put pressure on BOJ

TOKYO (Reuters) - Japanese core consumer prices fell at the fastest annual pace on record in July, potentially putting pressure on a reluctant Bank of Japan to rein in deepening deflation.The politically sensitive jobless rate also hit a record high 5.7 percent ...
Japan's central bank keeps key interest rate unchanged at 0.1 pct, keeps view on economyJapan's central bank kept its key interest rate unchanged at 0.1 percent Tuesday, and maintained a cautious view on the strength of recovery in the world's second-largest economy.The ...

Japan PM seeks Aug 30 poll despite grim prospects

TOKYO (Reuters) - Japanese Prime Minister Taro Aso said on Monday he plans to call a general election on August 30, despite the prospect that his long-ruling conservative party is headed for a historic defeat.A Democratic Party victory in the national election ...

Japanese machinery orders hit record low

Japanese machinery orders have fallen to the lowest level on record and thousands of firms have gone bankrupt, data has shown, dampening hopes of a quick recovery in Asia's biggest economy.Companies are slashing their investment to try to survive a global economic ...

Shinsei, Aozora announce plan to merge

Japanese lenders Shinsei and Aozora, both deep in the red due to the global financial crisis, announced Wednesday plans for a merger that would create the nation's sixth biggest commercial bank.The two banks, which together lost about four billion dollars in the ...

Japan unemployment rises while eurozone lending stalls

FRANKFURT/TOKYO (Reuters) - Japanese unemployment hit its highest level for six years on Tuesday and euro zone bank lending stalled, adding to fears that a substantial recovery from global recession is some way off.Unemployment in Germany, Europe's biggest economy, rose by less ...

Japan jeweller giveaway pulls thousands

Thousands of people queued for hours outside a luxury jeweller in Tokyo that was offering an unusual promotion to ease the recession blues -- a giveaway of 5,000 free diamonds.A queue stretched for several city blocks from early morning as people waited ...

GE's Immelt says to get harder to achieve growth

TOKYO (Reuters) - General Electric Co's < growth will be "harder to come by" in coming years given the prospect the global economy may grow at a slower pace once it emerges from recession, the company's chief executive said.Jeff Immelt said he ...