A Japanese government panel on Thursday recommended doubling the country's sales tax in stages over the next four years to help pay for rising social security costs, though Prime Minister Naoto Kan's looming resignation and instability in his ruling party cast doubt over whether the policy will be implemented.
Bank of Japan board member Seiji Nakamura said solid global growth will help Japan's recovery accelerate later this year but warned that the country cannot afford policy paralysis when the wounds of the devastating earthquake in March have yet to heal.
With 15 percent of the households possessing assets of $1 million or more, Singapore has the highest proportion of household millionaires in the world.
The International Air Transport Association said on Thursday the global economy was recovering more slowly than expected, but was inching upward based on air traffic data, a key barometer of growth.
Japan's Sharp Corp said it plans to dedicate more than 70 percent of output at one of its liquid-crystal display panel plants to small panels for smartphones and tablets, a move the Nikkei newspaper says is expected to boost the company's 2011/2012 earnings.
Asian stocks slid on Thursday, with a steady stream of weak U.S. data putting a damper on risk taking ahead of Friday's payrolls report, though valuations will probably in the near term limit a big decline in global share prices.
Prime Minister Naoto Kan, facing a no-confidence vote in the parliament said on Thursday that he would resign after solving nuclear crisis and other disaster related issues, reported Reuters quoting local media. Kan’s statement would raise the chances of him surviving a no-confidence vote later in the day and quell a party rebellion.
Alibaba founder Jack Ma didn't shed new light on his negotiations with Yahoo Inc and Softbank during an appearance at a conference on Wednesday, but he did offer some unexpected advice for Yahoo.
Car sales sputtered in May, slumping to levels that were much lower than expected as higher vehicle prices led consumers to put off purchases in the face of a weakening economy.
General Motors Co and Ford Motor Co reported slightly lower U.S. vehicle sales in May as broader economic weakness and higher vehicle prices prompted consumers to delay major car purchases.
Factory activity growth slowed in May to its lowest level since September 2009, suggesting a loss of momentum in the economy in the second quarter, according to the Institute for Supply Management.
Forex: Month End Review May 2011, USD, EUR, GBP, JPY, CHF, CAD, AUD, NZD
Airbus expects to bag more sales in 2011 than last year due to a revamped airplane model and should see a similar proportion of cancellations as in 2010, Chief Operations Officer Fabrice Bregier said on Wednesday.
Chinese computer maker Lenovo Group Ltd's has agreed to buy German electronics retailer Medion AG for around $900 million, boosting its market share in Europe.
Stocks were poised for a lower open on Wednesday as weak data on the labor market became the latest in string of soft economic reports.
As the disruption moves toward the sixth week, Sony announced that the PlayStation Network (PSN) service will be back online by the end of the week.
Stocks were poised for a lower open on Wednesday as weak data on the labor market became the latest in string of soft economic reports.
U.S. stock index futures dipped on Wednesday after four straight days of gains for the benchmark S&P 500 as investors awaited data on the labor market and manufacturing.
U.S. stock index futures dipped on Wednesday after four straight days of gains for the benchmark S&P 500 as investors awaited data on the labor market and manufacturing.
Shares were set to open slightly lower on Wednesday, after strong gains in the previous session, and as investors awaited further economic data to gauge the strength of recovery in the world's biggest economy At 5:03 a.m. ET, futures for the Dow Jones, S&P 500 and Nasdaq were all down 0.1 percent.
Japanese auto sales fell by a third in May, the lowest total for the month since 1968, as car makers struggled to restart production after the earthquake and tsunami that roiled the country in March.
China's Lenovo is buying Germany's Medion in a deal valuing the consumer electronics retailer at around $900 million as the world's No.4 PC brand expands its market share in developed economies.