TOKYO, Aug. 11, 2010 (Kyodo News International) -- ----------
N.Y. Fed to reinvest $18 bil. in Treasury securities
NEW YORK - The Federal Reserve Bank of New York said Wednesday it will buy about $18 billion worth of Treasury securities on nine occasions through Sept. 13 following the Federal Reserve's decision the previous day to reinvest in the securities to assist the economic recovery.
Starting next Tuesday, the outright Treasury operation will be conducted with principal payments from mortgage-backed and other securities to be received between mid-August and mid-September, the New York central bank said, adding it will release the next purchase amount and schedule on Sept. 13.
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British scholar compares JAL crash to loss of 'Titanic'
UENO, Japan - A British academic who is writing a book about the 1985 Japan Airlines (OOTC:JALFQ) jumbo jet crash in Gunma Prefecture has likened the disaster to the sinking of the Titanic.
Christopher Hood, director of Cardiff Japanese Studies Centre at Cardiff University in Wales, was among those who gathered in the village of Ueno in Gunma ahead of Thursday's commemoration of the 25th anniversary of the disaster, even though he did not lose a relative in the tragedy.
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Summer holiday exodus peaks, travelers cram roads, trains
TOKYO - The annual rush of travelers heading to their hometowns and resorts for the Japanese ''Bon'' summer holiday peaked Thursday, with people packing roads, railways and air transportation facilities.
Expressways were congested across the country before dawn with a 23-kilometer traffic jam on an outbound section of the Tomei Expressway in Shizuoka Prefecture and a 10-km jam on an outbound section of the Chugoku Expressway in Osaka Prefecture, according to the Japan Road Traffic Information Center.
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White House hails int'l contributions as U.S. troop withdrawal nears
WASHINGTON - As U.S. forces prepare for heavy withdrawal from Iraq at the end of August, the White House said Wednesday that the transition of troops from a combat to advise-and-assist role marks a milestone that many countries will have cause to celebrate.
While U.S. President Barack Obama's administration has been careful not to cast the Aug. 31 deadline as a ''mission accomplished,'' senior advisors did call attention to the efforts of many nations in helping give Iraqis ''a chance to control their own destiny.''
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Twin panda babies born at Wakayama theme park
WAKAYAMA, Japan - A giant panda has given birth to twins at an animal theme park in Shirahama, Wakayama Prefecture, the park operator said Thursday.
The brother and sister were born Wednesday morning at Adventure World, weighing 158 grams and 123 grams, respectively, and are said to be in a stable condition. They have yet to be given names.
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Developed economies lead increase in youth unemployment: U.N.
GENEVA - Developed economies have accounted for nearly half of the increase in youth unemployment worldwide since the financial crisis began, a U.N. study released Wednesday showed.
According to the International Labor Organization's ''Global Employment Trends For Youth,'' unemployment among 15- to 24-year-olds who were actively looking for work increased by 7.8 million to 80.7 million between 2007 and 2009. The global financial crisis deepened in 2008.
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Relatives of 1985 jet crash victims mark 25th anniversary
UENO, Japan - Relatives and friends of victims of the 1985 Japan Airlines jumbo jet crash marked the 25th anniversary of the world's worst single-aircraft accident Thursday, climbing to the crash site in Gunma Prefecture from early in the morning to offer prayers for their loved ones.
Among the mourners was Yumiko Kobayashi, 51, from the city of Saitama, whose sorrow at losing her close younger brother Hiroyuki Kato, then 21, remains unchanged despite the intervening years.
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Tokyo stocks open sharply lower on strong yen, Wall St. fall
TOKYO - Tokyo stocks opened sharply lower Thursday, hurt by a strong yen that touched a 15-year high in overnight trading overseas and a plunge on Wall Street amid worries about the global economy.
In the first 15 minutes of trading, the 225-issue Nikkei Stock Average fell 139.31 points, or 1.50 percent, from Wednesday to 9,153.54.
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Dollar stays at lower 85 yen in early Tokyo deals
TOKYO - The U.S. dollar traded at the lower 85 yen level early Thursday in Tokyo, little changed from its level late Wednesday in New York.
At 9 a.m., the dollar traded at 85.13-14, against 85.27-37 yen in New York and 85.09-11 yen in Tokyo at 5 p.m. Wednesday.
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N.Y. stocks plunge on gloomy global economic outlook
NEW YORK - New York stocks continued dropping Wednesday on fears about the gloomy outlook for the global economy, with the key Dow index closing at its lowest level in about three weeks.
The 30-issue Dow Jones Industrial Average, which fell 54.50 points Tuesday, plunged another 265.42 points to finish at 10,378.83, marking the sixth largest single-day point fall this year.
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Dollar briefly sinks into upper 84 yen zone in N.Y.
NEW YORK - The U.S. dollar briefly touched a fresh 15-year low in the upper 84 yen zone in New York on Wednesday on views that the gap in interest rates between the United States and Japan will narrow, while the euro temporarily hit its lowest against the yen since early July.
At 5 p.m., the dollar fetched 85.27-37 yen against 85.09-11 yen in Tokyo at 5 p.m. Wednesday, after falling to as low as 84.81 yen.
