Business Topics

Russia's shriveling economy becomes a global threat

Dec 17, 2014

Russia's shriveling economy becomes a global threat

by Josh Boak

Russia’s suddenly escalating financial crisis risks spilling beyond its borders and endangering parts of the global economy. With economies in Japan, China, Europe and Latin America already ailing, fresh threats have emerged from Russia’s shriveled currency, its move to dramatically boost interest rates, the ...

Abe, business heads, labor unions agree on efforts for wage growth

Dec 16, 2014

Abe, business heads, labor unions agree on efforts for wage growth

Prime Minister Shinzo Abe’s administration crafted a joint statement Tuesday with leaders of business organizations and labor unions, aiming to bolster the economy through wage growth. At a trilateral meeting, Abe also urged large manufacturers, which have benefited from the yen’s slide, to trade ...

Dec 15, 2014

Tankan' shows manufacturers' confidence is waning

Confidence among large manufacturers declined in the fourth quarter as the recession offset a boost from the weaker yen, the Bank of Japan’s “tankan” survey showed Monday, underlining the economic challenges for Prime Minister Shinzo Abe after his electoral victory. The tankan index of ...

Oil extends slide below $60

Dec 12, 2014

Oil extends slide below $60

Oil extended losses below $60 a barrel amid speculation that OPEC’s biggest members will defend market share against U.S. shale producers. Brent also slid after closing at the lowest price since July 2009. West Texas Intermediate futures fell as much as 1.9 percent in ...

Next year's draft budget unlikely to be cleared until Jan. 14

Dec 11, 2014

Next year's draft budget unlikely to be cleared until Jan. 14

The Abe administration is looking to adopt the draft budget for fiscal 2015 at a Cabinet meeting Jan. 14, assuming the ruling coalition wins Sunday’s election as expected, according to informed sources. In another key step for compiling the budget for the fiscal year ...