Feb 13, 2015

Negative savings rates loom

The first-ever annual drop in Japan's household savings rate into negative territory might have been the result of people's rush to buy goods before the consumption tax hike last April. Yet, the long-term downtrend in the savings rate is forecast to continue.

Feb 3, 2015

Diet enacts extra budget to boost domestic demand

The Diet has enacted a ¥3.12 trillion extra budget for fiscal 2014 to fund an economic stimulus package aimed at boosting domestic demand aggravated by last year’s consumption tax hike and the yen’s plunge. The supplemental budget was approved Tuesday evening in the Upper ...

Dec 17, 2014

Obama signs $1.1 trillion spending bill into law

With little fanfare to mark a rare bipartisan achievement, President Barack Obama on Tuesday signed a massive, $1.1 trillion spending bill that keeps the federal government operating over the next nine months. The legislation was a compromise that angered liberals and conservatives alike but ...

Dec 17, 2014

U.S. Congress extends dozens of tax breaks

The U.S. Senate approved a sweeping package of tax breaks Tuesday, sending to President Barack Obama a bill that allows individuals and corporations to save billions of dollars on their 2014 taxes. On the Senate’s final day of the year, lawmakers passed some 55 ...

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 ...

Dec 16, 2014

Memories of financial crisis fading as risks rise

Six years after the collapse of Lehman Brothers, the lessons of the financial crisis may already be fading from collective memory. Just last week, Congress acted to loosen the regulation of the high-risk investments that ignited the 2008 crisis. Housing regulators cut minimum down ...

Gambling debt cripples Macau 'junket' model

Nov 30, 2014

Gambling debt cripples Macau 'junket' model

Companies that connect China’s wealthy gamblers to Macau’s casinos are waiting as long as a year for gamblers to repay billions of dollars of loans, crippling the business model of an industry that sustains the world’s biggest casino center. These “junket” businesses, which lend ...

Judge approves bankruptcy exit plan for Detroit

Nov 8, 2014

Judge approves bankruptcy exit plan for Detroit

A judge cleared Detroit to emerge from bankruptcy Friday, approving a turnaround plan that will require discipline after years of corruption, mismanagement and an exodus of residents brought this one-time industrial powerhouse to financial ruin. “What happened in Detroit must never happen again,” Judge ...