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Dec 24, 2014

DBJ privatization delayed again in bid to underpin growth

The government will delay privatization of the Development Bank of Japan in an attempt to sustain the country’s flagging economy, according to sources close to the matter. The postponement, the third in eight years, highlights the government’s intention to keep providing money to riskier, ...

Dec 24, 2014

Mitsubishi Heavy looks to spin off ship-building business

Mitsubishi Heavy Industries Ltd. is considering spinning off part of its ship-building business to turn around its overall earnings, sources said. The heavy machinery maker may set up a separate company to build vessels such as liquefied natural gas and liquefied petroleum gas carriers ...

Dec 24, 2014

France waves discreet goodbye to 75% super-tax

When President Francois Hollande unveiled a “super-tax” on the rich in 2012, some feared an exodus of business, sporting and artistic talent. One adviser warned it was a Socialist step too far that would turn France into “Cuba without sun.” Two years on, with ...

Dec 24, 2014

RBS freezes 18 bonuses in forex rigging probe

The Royal Bank of Scotland has withheld the bonuses of 18 staff members under investigation for possible roles in rigging the foreign exchange market, the British lender said Tuesday. More than 50 former and current traders are under investigation in the probe, launched after ...

Dec 23, 2014

¥300 billion allocated for energy projects

The government plans to spend ¥300 billion promoting renewable energy and helping small businesses cope with pricier fuel bills, according to informed sources. The package will be adopted at a Cabinet meeting Saturday. It is expected to include a program promoting the development of ...

Abe vows to 'steadily achieve' fiscal reform goal in fiscal 2015

Dec 23, 2014

Abe vows to 'steadily achieve' fiscal reform goal in fiscal 2015

Prime Minister Shinzo Abe said his administration will “make every effort to steadily achieve” its fiscal rehabilitation goal in fiscal 2015, while promising to streamline public spending. Abe’s remarks came during a meeting Monday of the Council on Economic and Fiscal Policy, where the ...

Dec 23, 2014

2015 general account spending to total over ¥97 trillion

The Abe administration is considering setting the scale of general account spending at a record ¥97 trillion to ¥98 trillion in its initial draft for the fiscal 2015 budget, informed sources said. Although the spending is set to reach an unprecedented amount, it is ...

Dec 23, 2014

Skymark shares dive as Airbus moves toward lawsuit

Shares in Japan’s struggling Skymark Airlines slumped more than 16 percent Monday after it said Airbus was moving closer to filing a lawsuit over a failed $2.2 billion jet order. The Tokyo-listed stock plunged 63 points to ¥319 after the airline said in a ...