Business Topics

Greece submits reform documents in bid to secure bailout extension

Feb 24, 2015

Greece submits reform documents in bid to secure bailout extension

Caught between its own defiant campaign pledges and pressure from creditors, Greece’s left-wing government will deliver a list of reforms Tuesday to debt inspectors involved in the final approval of extended rescue loans, officials said. Prime Minister Alexis Tsipras was already facing dissent within ...

Feb 21, 2015

Tentative West Coast port deal reached

Negotiators reached a tentative contract covering West Coast dockworkers on Friday evening, likely ending a protracted labor dispute that snarled international trade at seaports handling about $1 trillion worth of cargo annually. The breakthrough came after nine months of negotiations that turned contentious in ...

Greece, eurozone nations settle their differences —for now

Feb 21, 2015

Greece, eurozone nations settle their differences —for now

Following weeks of recrimination and distrust, Greece and its creditors in the 19-nation eurozone reached an agreement Friday on extending the country’s rescue loans, a move that should dramatically ease concerns that it was heading for an exit from the euro as soon as ...

Feb 18, 2015

Big firms face pay-hike calls as 'shunto' labor talks begin

Large firms kicked off their annual wage talks Wednesday, with labor unions demanding a pay-scale hike amid Prime Minister Shinzo Abe’s repeated calls for an increase in salaries that would help boost consumption and shore up the economy. Workers at major automakers including Toyota ...

Feb 18, 2015

Diet ready to take up tax reform legislation for fiscal 2015

Tax reform legislation for fiscal 2015 that would cut the corporate tax rate and formalize the delay in hiking the consumption tax has made it to the Diet, with the Abe administration looking for quick approval. The Cabinet approved the proposed legislation Tuesday. It ...

Feb 17, 2015

Household spending logs biggest drop in eight years

Household spending in 2014 declined at its fastest pace in eight years, official data showed Tuesday, underscoring the impact of the first consumption tax hike in nearly two decades. The figures come a day after the government said the economy limped out of recession ...