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Bank of America saved by Warren Buffet

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PM Naoto Kan announced on Friday that he resigned from his position as leader of the ruling Democratic Party of Japan

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...rophe, forging a new nuclear policy and curbing a public debt that’s already twice the size of Japan’s $5 trillion economy. The new PM will also need to mend fences with the U.S. over the relocation of an American military base on Okinawa. Naoto Kan had recently cancelled talks with President Barack Obama over uncertainty about the Japanese leader’s political future. While many o...

Nina Davuluri has become the first Indian-American to win Miss America contest in its 92-year history

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Nina Davuluri has become the first Indian-American to win Miss America contest in its 92-year history. Nina Davuluri, 24, was crowned on Sunday evening as Miss America on the nationally televised pageant, which returned home this year to Atlantic City. The Indian-American beauty overcame accusations that she bad-mouthed others entrant to win the contest. And within minutes of winning, Nina Davulu...

Barack Obama announced that the “best is yet to come” during a moving acceptance speech as the news came that he had been re-elected as President of the United States

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...t heights of hope, the belief that while each of us will pursue our own individual dreams, we are an American family and we rise or fall together as one nation and as one people. Tonight, in this election, you, the American people, reminded us that while our road has been hard, while our journey has been long, we have picked ourselves up, we have fought our way back, and we know in our hearts that...

The disputed islands in the East China Sea have been a source of tension between China and Japan for decades

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Japan’s PM Shinzo Abe has warned China that his country will respond with force if any attempt is made to land on disputed island

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Japan Airlines and ANA have grounded their Boeing 787 Dreamliners after one was forced to make an emergency landing because of battery problems

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Japanese shares have risen after finance ministers of the G20 group of nations avoided singling out Japan for criticism over the recent yen weakness

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Japanese shares have risen after finance ministers of the G20 group of nations avoided singling out Japan for criticism over the recent yen weakness. The yen has dipped nearly 15% against the US dollar since November amid Japan’s efforts to stoke inflation. There were concerns that a criticism from G20 may prompt Japan to alter its aggressive stance. The fears were that it would result in t...

Japanese PM Shinzo Abe says other countries want Japan to adopt a more assertive leadership role in Asia to counter the growing power of China

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In a recent interview, Japanese PM Shinzo Abe says other countries want Japan to adopt a more assertive leadership role in Asia to counter the growing power of China. Shinzo Abe told the Wall Street Journal there were “concerns that China was trying to change the status quo by force, rather than by the rule of law”. Relations between China and Japan have been strained over recent year...

Japan's economy contracted in the third quarter of 2012, as a global economic slowdown and anti-Japan protests in China hurt its exports

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...very in the US have seen many investors flock to safe-haven assets such as the yen, resulting in the Japanese currency strengthening against the US dollar and the euro. The yen has risen 5% against the US dollar since March this year and 8.5% against the euro during that period. That makes Japanese goods more expensive for American and European consumers, hurting the earnings of the country’...

People are voting in a general election in Japan, where former leader Shinzo Abe is challenging the current prime minister, Yoshihiko Noda

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...to end 20 years of economic stagnation, and that nuclear energy has a role to play in resource-poor Japan’s future despite last year’s nuclear disaster at Fukushima. People are voting in a general election in Japan, where former leader Shinzo Abe is challenging the current prime minister, Yoshihiko Noda Shinzo Abe has also called for a tough stance on the territorial row with China o...

Japan has accused China of violating its airspace for the first time after a Chinese government plane flew near disputed East China Sea islands

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Japan has accused China of violating its airspace for the first time after a Chinese government plane flew near disputed East China Sea islands. Fighter jets were scrambled after the plane was seen around 11:00 local time near one of the islands, spokesman Osamu Fujimura said. Japan lodged an immediate protest with Beijing, he said. The islands, known as Senkaku in Japan and Diaoyu in China, have...

PM Shinzo Abe has called for Japan to broaden the scope of activities performed by its military

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Japan’s government has approved a new national security strategy and increased defense spending in a move widely seen as aimed at China. Over the next five years, Japan will buy hardware including drones, aircraft and amphibious vehicles. The military will also build a new marine unit, an amphibious force capable of retaking islands. The move comes with Tokyo embroiled in a bitter row with...

Japan's monthly trade deficit hit a record in January after its recent aggressive monetary policy stance weakened the yen sharply

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Japan’s monthly trade deficit hit a record in January after its recent aggressive monetary policy stance weakened the yen sharply. Exports rose in January, the first jump in eight months, as its goods became more affordable to foreign buyers. However, a weak currency also pushed up its import bill resulting in a monthly trade deficit of 1.6 trillion yen ($17.1 billion), a 10% jump from a ye...

Japan’s government has approved a fresh $116 bn stimulus package in an attempt to spur a revival in its economy

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Japan’s government has approved a fresh 10.3 trillion yen ($116 billion) stimulus package in an attempt to spur a revival in its economy. The package will include infrastructure spending, as well as incentives for businesses to boost investment. Tokyo estimates that the stimulus will boost Japan’s economy by 2% and create 600,000 jobs. Japan’s economy has been hurt by a dip in exports...

China is accusing Japan of using its national security as a pretext for military expansion

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China is accusing Japan of using its national security as a pretext for military expansion. China’s Defense Ministry spokesman Geng Yansheng said in a statement that the move would increase regional tensions, state news agency Xinhua reported. Earlier this week, Japan said it would buy advanced equipment including drones and amphibious vehicles. It comes as Tokyo is embroiled in a bitter row with...

The map, by the famous cartographer Martin Waldseemuller, is credited with being the first to document and name the newly-discovered land of America

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A copy of a rare 16th century map known as “the birth certificate of America” has been discovered in Germany. The map, by the famous cartographer Martin Waldseemuller, is credited with being the first to document and name the newly-discovered land of America. It had been thought that Martin Waldseemuller had only made four copies, but researchers at a Munich university have now discov...

The third reactor at the Tomari plant, in Hokkaido prefecture, is shutting down for routine maintenance

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Japan has decided to switch off its last working nuclear reactor, as part of the safety drive since the March 2011 tsunami triggered a meltdown at the Fukushima plant. The third reactor at the Tomari plant, in Hokkaido prefecture, is shutting down for routine maintenance. The move leaves Japan without energy from atomic power for the first time for more than 40 years. Until last year, Japan got 3...

Six Chinese surveillance ships have entered waters near islands claimed by both Japan and China

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Six Chinese surveillance ships have entered waters near islands claimed by both Japan and China. China said the ships were carrying out “law enforcement” to demonstrate its jurisdiction over the islands, known as Diaoyu in China and Senkaku in Japan. At least two of the vessels left after the Japanese coast guard issued a warning, Japanese officials say. The move came after Japan seal...

Japanese and South Korean planes have flown unannounced through China's newly-declared air defense zone

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Japanese and South Korean planes have flown unannounced through China’s newly-declared air defense zone, officials from both nations say. Japan’s aircraft had conducted routine “surveillance activity” over the East China Sea zone, the top government spokesman said. South Korea had also conducted a flight, its defense ministry said. China says planes transiting the zone, which co...

Zhou Xiaochuan, the governor of China's central bank, has pulled out of the IMF and World Bank meetings being held in Japan

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...entral bank, has pulled out of the International Monetary Fund and World Bank meetings being held in Japan. The move comes amid an ongoing territorial dispute between the two countries. Relations between the two soured after Japan said it had purchased disputed islands in the East China Sea claimed by both Tokyo and Beijing. China’s four state-owned banks have also skipped the meetings. Zhou...

Bank of America decided to drop the plans to charge a $5 monthly fee for its debit card use in response to complaints from both customers and politicians

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Bank of America decided to drop the plans to charge a $5 monthly fee for its debit card use in response to complaints from both customers and politicians. Bank of America said the move to drop the fees was in response to customer feedback and competition, with the company reversing its spoken “right” to turn a profit to, instead, listening to its customers. The company was under press...

Kris Humphries gave his first television interview on Good Morning America since his split from Kim Kardashian

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Kris Humphries gave his first television interview on Good Morning America since his split from Kim Kardashian. Kris Humphries, 26, feebly attempted to deflect questions about his personal life on Good Morning America today. The NBA star was grilled by host Josh Elliot, who would not let up as Kris Humphries tried to turn the conversation around to sport and charity awareness. Sources close to Kr...

Laura Kaeppeler, the beauty queen from Kenosha, Wisconsin, won the Miss America pageant on Saturday in Las Vegas

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Laura Kaeppeler, the beauty queen from Kenosha, Wisconsin, won the Miss America pageant on Saturday in Las Vegas after singing opera and strutting in a white bikini and black beaded evening gown. Laura Kaeppeler, 23, had to answer a question about whether beauty queens should declare their politics. “Miss America represents everyone, so I think the message to political candidates is that they rep...

Japan has hanged three death-row inmates, the first executions under Prime Minister Shinzo Abe

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Japan has hanged three death-row inmates, the first executions under Prime Minister Shinzo Abe. The three were put to death in the early hours of Thursday, the Justice Ministry has confirmed. One of them was convicted of killing a young girl. Japan traditionally executes several prisoners at a time. These are the first executions since September 2012. Japan is one of the few industrialized nation...