Word: japanism
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...enough, however. JAL reportedly needs more than $1 billion just to continue services into next year. So Nishimatsu has been forced to go hat in hand to the government seeking help to meet its financial needs of up to $3 billion in emergency capital. (See pictures of how Japan has changed in 20 years...
...other main contenders are the U.S., Spain and Japan, and they've all hosted the Olympics before. So, Brazilians, with their beaches, sun, and a vibrant economy whose recent performance has shamed many developing-world rivals, believe that Rio de Janiero - and South America - deserves the chance to show what it can do. (See the long history of Olympic politics...
...When Japan Airlines (JAL) switched from glass wine bottles to plastic ones in coach class earlier this year, passengers took it as just another sign of the humbling of the country's once-proud flagship carrier. But far greater humiliations were in store for Asia's largest airline by revenue. Beset by a steady erosion of its customer base, high cost structures and a $15.4 billion debt load, JAL lost about $1 billion last quarter and projects a loss of about $700 million for this fiscal year. With nowhere else to turn, JAL CEO Haruka Nishimatsu this week met with...
...China and Japan: The New Green Team If the U.S. is half of the solution to Copenhagen, then China - now the world's top carbon emitter - is the other half. Massively polluting, building a couple of coal-fired power plants every week, China is a convenient scapegoat for American politicians who don't want to make the first move on climate change. But as Hu made clear in his Sept. 22 speech, China is serious about confronting climate change. The country spent an estimated $221 billion in economic stimulus on green initiatives, more than any other nation...
...Meanwhile, China's neighbor Japan came out with the most aggressive carbon-emission cuts in the world. Japan's new Prime Minister, Yukio Hatoyama, pledged to reduce Japan's carbon emissions 25% below 1990 levels by 2020. Although European nations have long promised to cut their own emissions by 20% and potentially more, Japan is the most energy-efficient large economy in the world, and is poised to become a living laboratory for fighting climate change. "I am resolved to exercise the political will to deliver on this promise," said Hatoyama, whose party in recent elections overthrew the Liberal Democratic...