japan

Stocks Soar on Services Growth and Japan's Rate Cut

The Dow surged nearly 200 points, while inflation fears propelled gold to another record close. The Institute for Supply Management said its services index rose to 53.2 last month from 51.5 in August. Economists had expected the measure to rise to 52.

Japan Cuts Interest Rate to Zero

Japan's central bank has cut its key interest rate to a range of 0% to 0.1%, effectively introducing a zero-interest-rate policy.

Toshiba Unveils No-Glasses 3-D TV

Toshiba (TOSBF) unveiled a new 3-D TV that viewers can watch without wearing special glasses. The 3-D liquid crystal display TV uses a high-definition screen backlit with LEDs, a special sheet on the screen and chip technology to display information from nine images, The New York Times reported.

AIG May Sell Japanese Units to Prudential Financial for $5 Billion

American International Group (AIG) may sell two Japanese life-insurance units to Prudential Financial Inc. (PRU) for a total of as much as $5 billion, The Wall Street Journal said. The agreement is currently "a few days away" from being ready, The Wall Street Journal said without naming its sources.

Nissan Raises China Production Target

Nissan (NSANY) raised its production target for China, the world%u2019s largest auto market. The Japanese automaker raised its production target to 1.2 million units in 2012, from a previous target of 1 million, BBC News reported. The company currently produces 670,000 units a year in China.

Steve Jobs is not a Ninja

Apple CEO Steve Jobs is disputing reports that he'll never return to Japan after officials at an airport barred him from taking Ninja throwing stars...

Japan Gets a Boost From Exports

Mired in deflation and stagnant for decades, Japan has been the economic basket case of the developed world, a cautionary example of malaise run amuck. But because it's export-oriented, the world's third-largest economy is getting an unexpected lift from roaring growth

Yen Gains to 15-Year High Against U.S. Dollar

The yen strengthened to a 15-year high against the U.S. dollar as investors bet against the country%u2019s policy to limit the gains in the currency. The yen strengthened to 83.34 per dollar, compared to 83.80 late Tuesday, The Wall Street Journal reported.

TV Sales Grow Globally, But Not in North America

Americans are buying fewer televisions, according to a new report from DisplaySearch. Overall, North American TV shipments fell 3% in the second quarter, even as worldwide shipments grew 26%.

Japan Airlines to Cut 16,000 Jobs in Restructuring

Japan Airlines plans to slash its workforce and reduce the number of planes in its fleet as part of its bankruptcy restructuring. The airline aims to eliminate more than 16,000 positions, BBC News reported. Some of these reductions will come through early retirement and the sale of subsidiaries.

Bank of Japan Unveils Measures to Contain Yen, Boost Economy

Japan%u2019s central bank unveiled new measures to stem the rise in the value of the yen and boost the country%u2019s flagging economy. Following an emergency meeting, the central bank announced a new six-month low-interest loan program to financial institutions, raising the total amount of credit available to banks to 30 trillion yen ($355 billion), The Associated Press reported. Policy-makers also voted to keep the key interest rate at 0.1%.

Bank of Japan Mulls Action on Rising Yen

The yen eased down a bit on Wednesday from the 15-year and nine-year highs it set Tuesday against the dollar and the euro respectively, with the market watching for possible intervention from Tokyo to curb the currency's rise, which threatens Japan's fragile economic recovery.

Sharp to Cut LCD Production for Two Months

Japanese electronics company Sharp Corp (SHCAY) will cut its production of LCD panels as TV inventories piled up in China and the United States. The company will reduce capacity utilization at its Sakai factory by 20%-30% for as long as two months, Reuters said, citing a report in the Japanese press. The factory makes panels of 40 inches and larger.

Mazda to Recall Over 500,000 Vehicles Worldwide

Mazda is readying to recall over 500,000 vehicles across the world due to a problem with the power steering. Earlier this week, Mazda said it was recalling more than 300,000 vehicles in North America, including 215, 000 in the United States. Today, Mazda said it was widening the recall to markets including China, Europe and Australia, The Financial Times reported.

Now the No. 2 Economy, What's Ahead for China?

According to one China expert, overtaking Japan as the world's second-largest economy doesn't change the underlying economic issues China must resolve, but it does cement changes that have been rapidly making China a far more important player on the global stage

China Overtakes Japan as World's Second-Largest Economy

Japan's nominal GDP, not adjusted for price and seasonal variations, was $1.268 trillion in the second quarter, while China's was $1.335 trillion. Japan%u2019s gross domestic product grew just 0.4% in the second quarter, The Associated Press reported. The figure suggests that China%u2019s economy, which is expected to grow by 10% this year versus Japan%u2019s rate of 2%-3%, will be larger at the end of 2010.

Yen Reaches 15-Year High Against the U.S. Dollar

The Japanese yen hit a 15-year high against the U.S dollar on Wednesday after the Federal Reserve lowered its assessment of the U.S. economy and said it will reinvest some bond holdings. The yen has strengthened 11% against the dollar since May, raising the possibility that Japanese authorities may intervene to weaken the currency, The Wall Street Journal reported. The yen generally strengthens during periods of economic uncertainty because investors view it as a safe haven.

Boosting Exports Is Key to U.S. Economic Recovery

Ways to avoid a painful Japan-like deflationary spiral are gripping investors and policymakers alike following Friday's disappointing jobs report. But to ensure a true recovery over the long haul, the U.S. would do well to look instead at Germany, which is banking more on manufacturing to tap into surging global demand.

How Japan Is Creating a Nation of Lost Youths

Beneath the bright lights of Tokyo and the evident wealth generated by decades of hard work and Japan Inc.'s massive global export machine lies a different reality: increasing poverty and decreasing opportunity for the nation's young people. It's a warning to America.

Japan's Cheap Debt Could Cost the World Dearly

Fueled by a high domestic savings rate, Japan has piled up debt to epic levels over the last few decades. But as its population ages and its national savings rate drops, the days of cheap debt are coming to an end -- and the global economy will feel the effects.

Sharp to Launch New Smartphone With 3-D Panel

Sharp Corp. (SHCAY) plans to venture into the smartphone market with a device that has a 3-D panel. Users will not need to wear special glasses to view the panel and the new phone will probably have a 3D-enabled camera, Reuters reported.

China Overtakes Japan as World's Second-Largest Economy

China is now the world%u2019s second-largest economy, having overtaken Japan, a senior Chinese official said. Yi Gang, the country%u2019s chief currency regulator, mentioned the achievement in comments published on the website of the State Administration of Foreign Exchange, Reuters reported.

Toyota to Recall 373,000 Avalons Sold in the U.S.

Toyota (TM) said it will recall 373,00 Toyota Avalons sold in the U.S. to address steering problems. The Japanese company will recall the 2000-2004 model year Avalon sedans due to potential problems with the steering lock bar, Toyota said in a statement. The Japanese company will recall 373,000 of the 2000-2004 model year Avalon sedans due to potential problems with the steering lock bar, Reuters reported. Toyota will also recall 39,000 of its 2003-2007 model year LX470 sports utility vehicles because of the risk of steering shaft disengagement.

When Americans Stop Shopping, the World Suffers

With the U.S. consumer economy in the doldrums, the impact is being felt globally. From China to Germany and Canada to Japan, America's major trading partners are struggling to adapt to a sudden decline in U.S. imports.