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Japan accused of financing coal-fired power plants

by Karl Ritter and Aijaz Rahi

Despite mounting protests, Japan continues to finance the building of coal-fired power plants with money earmarked for fighting climate change, with two new projects underway in India and Bangladesh, The Associated Press has found. AP reported in December that Japan had counted $1 billion in loans for coal plants in ...

Mar 29, 2015

Brazil uncovers multibillion-dollar tax fraud

Dozens of Brazilian firms, including industrial companies and banks, are under investigation amid allegations they paid $5.9 billion in bribes to tax officials, police said Saturday. Brazil is already reeling from the biggest graft scandal the country has known, a $3.8 billion scam involving ...

Mar 29, 2015

Australia signs up to negotiations on Chinese-led bank

Australia announced on Sunday that it would join negotiations to establish a new a Chinese-led Asian regional bank that has emerged as a potential challenge to United States influence in a part of the world where the Obama administration has tried to forge stronger ...

Brazil will join China-backed Asian investment bank

Mar 28, 2015

Brazil will join China-backed Asian investment bank

Brazil said on Friday it had accepted China’s invitation to join its Asian Infrastructure Investment Bank as a founding member. “Brazil is very interested in participating in this initiative,” the office of President Dilma Rousseff said in a short statement. It said no conditions ...

Mar 28, 2015

Takata sued for $1.9 billion in Canada over faulty air bags

Canadian drivers have launched three class action lawsuits against embattled auto parts supplier Takata over defective air bags linked to at least five fatalities worldwide, lawyers confirmed Friday. The plaintiffs are seeking a total of 2.4 billion ($1.9 billion) Canadian dollars for personal injuries, ...

| Mar 27, 2015

Greenback rises above ¥119 in Tokyo

The dollar held firm above ¥119 in Tokyo on Friday after staging a rally in overseas trading overnight thanks to better than expected U.S. economic data. At 5 p.m., the dollar was quoted at ¥119.43-44, up from ¥118.62-64 at the same time on Thursday. ...

Abe vows not to concede ground on TPP talks ahead of U.S. trip

Mar 27, 2015

Abe vows not to concede ground on TPP talks ahead of U.S. trip

Prime Minister Shinzo Abe said Friday that Japan won’t make any easy concessions just to advance the Trans-Pacific Partnership free trade talks before he meets with U.S. President Barack Obama on April 28. The TPP negotiations are “in the final phase, but problems remain,” ...

Mar 27, 2015

South Korea fines Japan's Denso, NGK Spark Plug for price-rigging

South Korea’s Fair Trade Commission said Thursday it had slapped fines totaling 3.5 billion won (about $3.1 million) on five auto parts suppliers, including Japan’s Denso Corp. and NGK Spark Plug Co., for forming a price-fixing cartel. The two Japanese firms, their local units ...