Clouding the G-7 gathering, which represents the world's major industrial economies, are the tit-for-tat tariffs between Washington and Beijing.Politicsread more
The Goldman Sachs technology M&A team, led by Sam Britton, has cashed in on its software focus and decades of experience to dominate 2019's biggest deals.Technologyread more
American small and medium-size companies that rely on China are scrambling to adjust their business plans in response to the escalating trade war.Traderead more
Here are the products that stand to be the most affected by China's new tariffs on $75 billion worth of U.S. goods.Marketsread more
The summit comes amid fears over a global economic slowdown, and U.S. tensions over trade allies, Iran and Russia.Politicsread more
Carl Medlock used to work at Tesla. Now he's one of the few people in the U.S. that can fix the company's original Roadster electric vehicles.Technologyread more
The world's second biggest economy is past a point where it cannot ignore its enormous debt anymore, according to an analyst.China Economyread more
Trump does have some powerful tools that would not require approval from U.S. Congress.Politicsread more
Stocks dropped after Donald Trump ordered that U.S. manufacturers find alternatives to their operations in China.US Marketsread more
As demand for lab monkeys continues to rise, U.S. scientists are reporting delays in research projects because they can't obtain enough animals, according to the National...Politicsread more
The European Union will respond in kind if the U.S. imposes tariffs on France over digital tax plan, EU chief Donald Tusk told G-7.Technologyread more
The Bank of Japan (BOJ) on Wednesday kept its massive stimulus program intact, in the wake of data that showed the economy in recession and ahead of snap elections expected in December.
The move was widely expected after the central bank surprised markets last month by expanding its quantitative easing program, swelling Japan's monetary base by around 80 trillion yen ($682 billion) each year, up from 60-70 trillion yen currently.
"Japan's economy continues to recover moderately as a trend, although some weaknesses remain mainly in output," the BOJ said in a statement after its policy meeting. It revised up its view on exports to say they were "flat," compared with last month's assessment that they were weakening.
Board member Takahide Kiuchi, a skeptic of the current quantitative easing program, was the only dissenter in the 8-1 vote. This shows more agreement than on October 31, when the vote to increase the stimulus was deeply divided in a rare 4-5 split.
On Tuesday, Prime Minister Shinzo Abe announced a widely-telegraphed decision to dissolve parliament and hold snap elections, likely in mid-December. He also put off raising consumption tax for a second time – to 10 percent – by 18 months. The move was initially scheduled for October 2015.
Japan's economy has been clobbered by April's hike in nationwide-wide sales tax to 8 percent from 5 percent; data released Monday showed gross domestic product in the third quarter contracted a shocking 1.6 percent annualized rate after shrinking an equally-dismal 7.3 percent in the second quarter.
In a media briefing following the BOJ decision, central governor Haruhiko Kuroda avoided criticizing Abe's decision to delay the tax increase, but urged for continuation for fiscal reforms.
"Whether to raise the sales tax is something the government and parliament decides, taking into account economic and other conditions," Kuroda said. "In general terms, it's important for Japan as a nation to maintain market trust in its finances."
"The government has laid out a medium-term fiscal consolidation plan and has set a clear target ... We hope the government steadily implements measures, based on this plan, to create a sustainable fiscal structure," he added.