WASHINGTON/TOKYO (Reuters) – The collapse of the Mt. Gox bitcoin exchange could ultimately strengthen the virtual currency industry by weeding out weaker operators and prompting more supervision, New York’s banking regulator said on Monday.
Japan’s government, however, said it was still trying to figure out how the Tokyo-based company, once the world’s biggest bitcoin exchange, could lose nearly half a billion dollars worth of the virtual currency in a short period, and whether crime was involved.
WASHINGTON/TOKYO, March 4 (Reuters) – The collapse of the
Mt. Gox bitcoin exchange could ultimately strengthen the virtual
currency industry by weeding out weaker operators and prompting
more supervision, New York’s banking regulator said on Monday.
Japan’s government, however, said it was still trying to
figure out how the Tokyo-based company, once the world’s biggest
bitcoin exchange, could lose nearly half a billion dollars worth
of the virtual currency in a short period, and whether crime was
TOKYO (Reuters) – Japanese companies raised spending on plant and equipment in October-December for a second straight quarter, but rather modestly, suggesting firms were wary of boosting investment in the face of an uncertain economic outlook.
The 4.0 percent year-on-year rise in capital spending followed a 1.5 percent increase in the previous quarter, which was the first increase in four quarters, Ministry of Finance (MOF) data showed on Monday.
TOKYO (Reuters) – Japan’s factory output rose in January at the fastest pace in more than two years and core inflation hovered near a five-year high, comforting signs for an economy expected to take a hit from a sales tax hike scheduled for April.
Labor demand continued to improve and household spending rose more than expected, providing hope that domestic demand could underwrite a recovery after lackluster growth in the fourth quarter of last year.
TOKYO (Reuters) – Growth in Japan’s factory output likely accelerated in January and core inflation hovered near five-year highs, a Reuters poll showed, underscoring the ongoing economic recovery despite fears that momentum may soon start to fade.
Retail sales probably increased while job conditions held firm, in a sign that an improving labor market and firm demand are driving private consumption, which accounts for 60 percent of the economy.
TOKYO (Reuters) – Japanese Finance Minister Taro Aso on Friday urged the United States to keep explaining to financial markets how it plans to wind back its massive monetary stimulus, noting the tapering is a good thing as it reflects an improving economy.
Ahead of his departure for the Group of 20 finance ministers’ meeting in Sydney this weekend, Aso called on emerging market economies to implement necessary reforms to guard against any spillover from the U.S. tapering.
TOKYO (Reuters) – Japan suffered a record trade deficit in January as a weak yen pushed up the cost of imports and failed to substantially raise exports, suggesting that the trade-reliant economy faces a bumpy ride even as policymakers put on a brave face about the outlook.
The data followed on the heels of a survey showing manufacturers’ sentiment worsened in January, underscoring the stiff challenges for Prime Minister Shinzo Abe’s strategy to spark sustainable growth over the long run.
TOKYO (Reuters) – Sentiment at Japanese manufacturers slipped in February for the first time in five months and is seen sliding further, a Reuters poll showed, a worrying sign the economy may be ill-equipped to cope with a planned sales tax hike in April without further stimulus.
Companies also voiced concern about weak shipments to China and risks from emerging market economies which are key markets for Japanese goods.
TOKYO (Reuters) – Asian Development Bank (ADB) President Takehiko Nakao urged emerging Asian economies on Wednesday to promote sound macroeconomic policies and structural reform to cope with any impact of the withdrawal of U.S. monetary stimulus.
Nakao, former Japanese vice finance minister for international affairs, told Reuters in an interview that despite a recent emerging market rout, Asian economies will not fall back into the kind of financial crisis they experienced in the late 1990s because they have firmer fundamentals.
TOKYO (Reuters) – Japan’s government described consumer prices as “rising moderately”, using that wording for the first time since October 2008, a sign that the economy is making steady progress towards exiting 15 years of stubborn deflation.
The government, in its monthly economic report on Wednesday, stopped short of declaring victory in its battle against deflation. But officials said signs that price rises are spreading justified the more upbeat description.