Japan government cuts economic view for three months in a row
News On Japan via chicagotribune.com -- Oct 13
Japan's government downgraded its view of the economy for the third straight month in October as worries about Europe's debt crisis and China's slowdown intensified, adding pressure on the central bank to offer further stimulus to support growth.
It was the longest streak of downgrades since five straight months of cuts made just after the collapse of Lehman Brothers in 2008, underscoring Tokyo's growing alarm that the prolonged overseas slowdown may again nudge Japan into recession.
Economics Minister Seiji Maehara said that while it was too early to judge whether Japan may slip into recession, the economy's trend was weak as weak global demand hurt exports.
"A further slowdown in global growth and volatility in financial markets may hurt Japan's economy, which are risks we must be vigilant to," Maehara told a news conference on Friday.
This Monday, members of the seminal metal band X Japan were in Odaiba rubbing shoulders with the likes of Brad Pitt, Lady Gaga and AKB48′s Yuko Oshima. The catch? They were all made out of wax. (Japan Times )
The parents of a nightclub worker killed in an arson fire three years ago filed a suit in the Nagoya District Court on Monday seeking damages against top members of the Yamaguchi-gumi organized crime group. (Tokyo Reporter )