JAPAN

Retail sales in Japan rose above forecasts indicating a recovery in consumer spending which could help the country to attain economic growth this quarter.

Japan's Nikkei average retreated from a seven-month high Tuesday as traders took profits ahead of a key selling level, while the chip sector suffered losses after Elpida Memory Inc said it will seek bankruptcy protection.

Seventy-five years ago, Mopar began as a name for an antifreeze product. That antifreeze brand has grown into the global automobile parts and service arm of Chrysler Group LLC, and its latest announcement further expands its global footprint.

A Japanese company unveiled plans on Wednesday to build a space elevator it hopes to complete by 2050.

Elpida Memory filed on Monday for bankruptcy protection, the largest ever by a Japanese manufacturer.

Japan's Olympus Corp proposed a new board of directors on Monday in an effort to recover from a $1.7 billion accounting fraud, but the line-up could face a hostile reception from foreign investors when it goes to a shareholder vote.

Shares of Micron Technology, the only U.S. maker of PC memory chips, soared 9 percent after the collapse of its Japanese rival, Elpida.

Leading economies told Europe it must put up extra money to fight its debt crisis if it wants more help from the rest of the world, piling pressure on Germany to drop its opposition to a bigger European bailout fund.

Japan's securities watchdog is investigating a small Tokyo-based broker, ITM Securities Co, over its possible role in a scandal involving the suspected disappearance of more than $2 billion in corporate pension funds, two sources with knowledge of the matter said.

Gold prices fell 1 percent on Monday, in line with the euro, stocks and other commodities, as worries over the euro zone debt crisis and the impact of high crude oil prices on the fledgling economic recovery fuelled risk aversion.

Nissan Motor Co <7201.T> said on Monday it will overhaul the way it develops cars by using common parts across different vehicle segments, cutting costs by nearly 30 percent and helping offset soaring spending to make cars safer and more fuel-efficient.

Japan's Elpida Memory Inc said it filed for protection from creditors on Monday with 448 billion yen ($5.55 billion) in debt, the biggest bankruptcy filing by a Japanese manufacturer.

Olympus Corp tapped a company veteran as president and a former banker from its main lender as chairman on Monday, a move likely to upset big foreign investors as it tries to recover from an accounting scandal that tarnished its image and hammered its balance sheet.

China on Monday called for steps to address the euro zone debt crisis, high oil prices and volatile capital flows, adding that Group of 20 nations should focus on ensuring a global economic recovery and financial market stability.

Japan's Elpida Memory Inc plans to file for bankruptcy protection on Monday, a senior executive said, potentially lowering the curtain on Japan in a PC memory chip business it once dominated as talks stalled on a possible rescue by domestic lenders and would-be overseas equity partners.

The 2011 Tohoku earthquake that struck the coast of Japan, which triggered a tsunami and caused a widespread death and destruction, is regarded as one of the most powerful earthquakes in the history of the world.

Japan's Olympus Corp unveiled a proposed new board of directors on Monday in an effort to recover from a $1.7 billion accounting fraud, but the line-up could face a hostile reception from foreign investors when it goes to a shareholder vote.

Japan's Olympus Corp is expected to unveil a new board of directors as early as Monday, part of efforts to recover from a $1.7 billion accounting fraud, but the new line-up is likely to disappoint the firm's major overseas investors.

The euro gained broadly Monday as signs of fresh steps from the Group of 20 major economies to contain the euro zone debt crisis boosted sentiment, but higher oil prices hurt Asian stocks.

Japanese conglomerate Hitachi Ltd <6501.T> could be on the road to recovery following a decade-long slump from numerous failed restructurings, Barron's said.

The Marshall Islands Marine Resources Authority (MIMRA) has seized over 60,000 lb of shark carcasses and more than 1,500 lb of shark fins from a Japanese fishing vessel.