Word: cabinets
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...Russia, Asia and the Middle East, where a new class of billionaire collectors has emerged. It was none other than the royal family of Qatar that briefly made Hirst the most expensive living artist at auction last year by paying $19.2 million for Lullaby Spring, one of his medicine-cabinet pieces...
...Taro Aso, the popular former Minister of Foreign Affairs. The hope is that Aso can not only rekindle the office's appeal but, much more importantly, help break gridlock in parliament, where the LDP heads a coalition in the lower house of the Japanese Diet. Fukuda reshuffled his Cabinet last month to install Aso in the No. 2 spot as the secretary general of Liberal Democratic Party...
Winning the general election is key for the LDP. Divisions between the party and its main coalition partner, the New Komeito party, have been growing. New Komeito is upset at being saddled with an unpopular Prime Minister as well as disapproving of a few of his cabinet choices and wants parliament dissolved in to come up with a whole new government. The DPJ is also pressing for an early dissolution because, it says, Fukuda "threw the administration away" by resigning so soon. Seiji Maehara, vice president of the DPJ, says, "The LDP people hope Aso will be in power...
...past nine months, among them a series of interest-rate cuts and tax rebates. No wonder the Japanese public exhibits so little confidence in the administration of Yasuo Fukuda, whose approval ratings bottomed out at just above 20% in May before recovering marginally after he reshuffled his Cabinet...
...monetary tools to stimulate growth. Government debt stands at a whopping 160% of GDP, so the country can't readily spend its way back to prosperity. Cut interest rates? Not when the Bank of Japan's policy rate already stands at 0.5%. Still, Fukuda and his newly appointed Cabinet ministers have options...