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...Slowly but surely, Japan has reconstituted its financial sector after its Lost Decade of the 1990s, and now its firms are in a position to expand aggressively abroad. Japanese financial institutions shed some $440 billion in bad debt since the late 1990s and have been barely grazed by the subprime crisis, partly because they were reducing debt as western firms were taking on more and more. Now, the bargains available in the U.S. afford Japanese banks an opportunity to move beyond their mature home market. Japan's economy is the world's second-largest, but it is plagued by slow...
...evolved towards a freer market system under European Union rules, even as it struggles to preserve parts of its vaunted welfare state. Over the past decade, millions of French citizens became first-time shareholders following a huge wave of privatizations, the bulk of them carried out in the late 1990s by a Socialist-led government. Meanwhile, once-modest executive compensation - long cited as proof of France's more egalitarian approach - has skyrocketed in recent years; in 2007 alone, pay for French top executives soared by an estimated 58%, according to the French business weekly L'Expansion. Another recent study...
Like the Google guys themselves, T-Mobile's G1 is a little late to arrive (Apple's iPhone 3G has already been on the market for two months), but it's still pretty cool. A tad heavier and narrower than the iPhone, the G1 features a petite keyboard, a handy trackball and a higher-resolution, three-megapixel camera (the iPhone has a two-megapixel camera). Along with its Google-designed browser, the G1 features a more powerful version of Google Maps with a built-in compass and 360-degree photos. And Gmail users get instantly notified when new messages arrive...
...Climate change has finally gained prominence on the international stage—the U.N. debate on climate begins this week—but Tong views this shift as too little, too late for island countries that will be affected regardless of “whatever we do.” As a result, he has begun the early stages of Kiribati’s coping strategy—an eventual full-scale evacuation of citizens to various recipient countries...
...ratings, economic woes and gridlock in the Diet - will hand over the reins of government. Aso's rise signals the LDP's intent to reinvigorate its image and ride A wave of public support, typical for new prime ministers, into the general election. If those elections are held in late October as expected, Aso, 68, and his new Cabinet will have roughly one month to convince voters that the party is paying attention to their needs while it addresses contentious issues such as the supplementary budget, which could include tax cuts for low income Japanese...