Japan's economy shrunk by 0.9 percent in the 3rd quarter, making a recession more likely this year. Exports have dropped and the yen has soared, as bad economic news is reported for the 2nd time in a year.
Stable employment on the back of a robust economic recovery is washing record revenues into German state coffers, latest figures by the Finance Ministry say. Berlin believes state income is set to continue rising.
In light of an expanding China and economic challenges, Japan and the US "intend to overcome mutual differences and together forge a sturdy economic order for Asia and the Pacific in the 21st century" with Obama's visit.
President Barack Obama has arrived in Japan to begin his Asia tour. The White House has called the trip a "rebalancing" of US foreign policy in which Obama is expected reinforce his country's commitment to the region.
Escalating tensions in Ukraine are posing a risk to the global economy.
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