Friday, February 27, 2009

Japanese Economics

Citigroup May Sell Investment Bank in Japan

New York Times — Citigroup may sell both its Japanese investment bank and brokerage, according to media reports, as the faltering U.S. lender looks to raise cash from a sale of global assets.
The two units could bring in hundreds of billions of yen if sold together, Jiji Press and the Sankei newspaper said on Wednesday. Nikko Cordial, the retail brokerage, may alone raise up to 300 billion yen ($3.1 billion), Reuters said, citing sources with knowledge of the matter.
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Japanese economic slump deepens

Aljazeera — Japan's economy is sinking deeper into recession, the country's finance minister has warned, as new figures show industrial production plunged a record 10 per cent in January.
"The recession is further affecting the real economy," Kaoru Yosano, the finance minister, said on Friday.
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Japan Inflation Slows to Zero as Households Cut Back

Bloomberg — Japan’s consumer prices failed to rise in January for the first time in more than a year as households cut spending amid a deepening recession.
Consumer prices excluding fresh food were unchanged from a year earlier after climbing 0.2 percent in December, the statistics bureau said today in Tokyo. The median estimate for 32 economists surveyed by Bloomberg News was for a 0.1 percent decline. Household spending fell 5.9 percent.
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