The yen fell for a second day on speculation the Group of Seven nations will continue to sell the currency to curb its appreciation. The yen slid against all of its 16 major counterparts, extending losses from March 18 after G7 nations followed Japan’s lead and sold the currency as it reached a postwar high, endangering the recovery from its biggest earthquake. The euro rose versus the yen on p...

World Bank: Japan may need 5 years to rebuild from devastating quake, tsunami SINGAPORE (AP) ― Japan may need five years to rebuild from the catastrophic earthquake and tsunami that has caused up to $235 billion of damage, the World Bank said Monday. The March 11 disaster ― which killed more than 18,000 people and ravaged northeastern Japan ― will likely shave up to 0.5 percentage point from th...

Optometrists: 3-D screen on Nintendo 3DS could help kids with vision disorders NEW YORK (AP) ― U.S. eye specialists are welcoming the Nintendo 3DS game device, dismissing the manufacturer’s warnings that its 3-D screen shouldn’t be used by children 6 or younger because it may harm their immature vision. On the contrary, the optometrists say, it’s a good idea to get your kids to try the 3-D scre...

WASHINGTON (AFP) ― IBM has agreed to pay $10 million to settle charges it gave cash and gifts to Chinese and South Korean officials to win contracts for mainframe and personal computers and other products. The agreement with the U.S. Securities and Exchange Commission calls for the U.S. computer titan to pay disgorgement of $5.3 million, interest of $2.7 million and a civil penalty of $2 million...

Japan’s risk of becoming the first Group of Seven member to return to a recession after the global financial crisis eased as the G7 intervened to halt the yen’s appreciation. The G7’s yen sales sent the currency down the most since September, to 80.58 per dollar at the close Saturday in New York, compared with the postwar high of 76.25 reached March 17. Japan’s Vice Finance Minister Fumihiko Iga...

President emphasizes importance of trade with Brazil to economic growth back home BRASILIA, Brazil (AP) ― Seeking to link his Latin American tour to job growth back home, President Barack Obama said Saturday the U.S. was eager to sell its goods and services to economically booming Brazil’s growing middle class. The president’s economic message, however, was overshadowed by events in Libya, where...

SINGAPORE (AFP) ― Crude rose in Asian trade Friday, pushed up by ongoing tensions in the oil-rich Gulf region and impact from Japan’s nuclear crisis, analysts said. New York’s main contract, light sweet crude for delivery in April, gained $1.65 to $103.07 per barrel while Brent North Sea crude for May was up $1.56 to $116.46. “The initial reaction to Japan is a sharp drop in oil demand in the s...

WASHINGTON (AP) ― Finance officials from the Group of Seven major industrialized countries on Thursday agreed on a coordinated effort to weaken the Japanese yen, which has surged to record levels following last week’s earthquake and tsunami. A super-strong yen could cripple Japanese exports, further worsening the economic impact of the disaster that killed thousands and triggered an unfolding nu...

TOYKO (AP) ― The Japanese auto industry remained largely hobbled Thursday, nearly a week after the country’s worst-ever earthquake laid waste to its industrial northeast, although some manufacturers announced plans to resume limited operations. Toyota Motor Corp., the world’s top automaker, will start up plants for producing repair or replacement parts on Thursday. However, the company said it w...

Bank of Japan injects another $61.2 billion into financial system TOKYO (AP) ― Japan’s central bank pumped another $61.2 billion into the financial system Tuesday to quell fears that the country’s banks could be overwhelmed by the impact of the massive earthquake and tsunami. The injection of 5 trillion yen comes a day after the Bank of Japan fed a record 15 trillion yen into money markets and ...