Word: yen
(lookup in dictionary)
(lookup stats)
Dates: all
Sort By: most recent first
(reverse)
...being the global currency a trader could most cheaply borrow. For much of the last decade Japan has been the world's largest moribund economy, with an economy so weak the Bank of Japan never dared to lift interest rates significantly above zero. During this time the Japanese yen was the currency traders loved. No longer, it seems. "The yen has become the least obvious carrying currency," says Credit Suisse's Desbarres, mainly because the near-zero interest rates Japan once exclusively offered are now available from central banks across the globe. Ironically, the yen today looks relatively strong compared...
...inconceivable that Tokyo will simply allow JAL, which was owned by the government until it was privatized in 1987, to fail. The airline has already been bailed out three times since 2001, and was guaranteed 80% of a 100 billion yen emergency loan by the previous administration. On Thursday, Japan's new Prime Minister, Yukio Hatoyama, said "public support may become necessary" for JAL and that he wants to finalize restructuring plans for the company "as soon as possible," on the sidelines of the G-20 meeting in Pittsburgh. Government officials "definitely don't want Japan's flagship carrier...
...everyone is convinced the DPJ can do that. Masaaki Kanno, chief economist at JPMorgan Securities in Tokyo, is skeptical that cutting wasteful spending and finding hidden reserves will compensate for growing expenditures; social security, for example, will need to expand by up to 1.5 trillion yen annually. "Within two years, the DPJ will have to show people a consistent way to finance additional spending," he says. "[The need for growth] has nothing to do with political ideologies. It's the reality of economic equations...
...Aron. His appetite for risk quickly surfaced. In 1995 he chided his fellow partners for being too risk-averse and promptly left a conference room where they were meeting to place a multimillion-dollar bet with the firm's money that the dollar would rise against the yen. Blankfein's bet - one of his favorites - paid off, and he impressed his partners as a prudent risk taker. He would do the same thing - exhort them to take greater risks - 10 years later and then persuade them to reverse course after December...
...move Japan away from a corporate-centric economic model to one that focuses on helping people. They have proposed an expensive array of initiatives: cash handouts to families and farmers, toll-free highways, a higher minimum wage and tax cuts. The estimated bill comes to 16.8 trillion yen ($179 billion) when fully implemented starting in the 2013 fiscal year...