Former Foreign Minister Boris Johnson is seen as the bookmaker's favorite to succeed outgoing Prime Minister Theresa May.Europe Politicsread more
J.P. Morgan economists said they now see a much slower economy in the second quarter, with growth of just 1%.Market Insiderread more
The combination of mounting recession fears, bets on a more cautious Fed and a regular uptick in market volatility could spell more losses, writes Nomura.Marketsread more
An analyst for Ark Invest, which has a major investment in Tesla, says recent drastic price-target cuts by others on Wall Street are missing the big picture.Investingread more
Rep. Chip Roy, R-Texas, has objected to a $19.1 billion disaster relief bill that was expected to pass unanimously Friday. The bill is likely to next be considered when...Politicsread more
The markets have been slow to recognize the high-stakes game that's playing out on the world stage.Economyread more
An altered video of House Speaker Nancy Pelosi made rounds on social media this week, which critics used to attack her mental state.Technologyread more
Stocks were headed for weekly losses on Friday as investors worry the U.S.-China trade war is hurting economic growth.US Marketsread more
One of the biggest Chinese chipmakers is delisting from the New York Stock Exchange amid the trade war, but the company said the decision is not related to the intensifying...Marketsread more
President Donald Trump, his businesses and members of his family on Friday appealed a federal judge's decision that Deutsche Bank and Capital One can turn over years of...Politicsread more
While the holiday generally marks a big sales push, this year it comes as cars are sitting on dealer lots longer before getting sold.Personal Financeread more
Japan's government revised down its forecasts for economic growth and consumer prices for the current and next fiscal years as natural disasters and weakening export demand weighed on the economy, the Cabinet Office said on Tuesday.
The government will use the forecasts to finalize the state budget for the next fiscal year starting in April, which could present policymakers with a host of challenges as they prepare to raise the nationwide sales tax.
Japan's economy will grow 0.9 percent in fiscal 2018, which ends in March, the Cabinet Office said. That is down from its previous projection of 1.5 percent growth.
In fiscal 2019 the economy will expand 1.3 percent, also down from the previous forecast of 1.5 percent growth.
Overseas demand will not contribute to growth either in the current or the following fiscal year due to a slowdown in China's economy and weak demand for electronic parts in Asia, a Cabinet Office official said.
Capital expenditure is expected to rise 3.6 percent in fiscal 2018 and then slow to 2.7 percent growth in fiscal 2019, partly because companies are cautious due to global trade friction, the official also said.
Overall consumer prices are expected to rise 1.0 percent this fiscal year, down from a 1.1 percent increase expected previously.
In fiscal 2019, overall prices will rise 1.1 percent, less than the previous forecast of a 1.5 percent increase.
Private consumption is expected to expand 0.7 percent this fiscal year and then accelerate to 1.2 percent growth in fiscal 2019, as consumers shake off the impact of a strong earthquake and heavy floods in September.
The government will raise the nationwide sales tax to 10 percent from 8 percent in October next year to help offset rising welfare costs.
The government has already planned for tax breaks and stimulus spending to offset any negative impact on consumer spending.
This stimulus, combined with an expected improvement in workers' wages, should prevent consumer spending from weakening, according to the official.
Japan's economy posted its biggest contraction in four years in July-September due to a fall in capital expenditure. The economy likely resumed expansion in the current quarter, but a row between Washington and Beijing over tariffs and trade policy is a threat to Japan's export-focused economy.
The government usually issues economic projections for the coming fiscal year in December when compiling the annual budget, and revises them around mid-year.