Kyodo economic news summary -1-
Tuesday, June 22, 2021 8:40 PM

TOKYO, Jun. 22, 2010 (Kyodo News International) -- ----------
White House budget director Orszag to resign soon

WASHINGTON - The White House said Tuesday its chief budget director Peter Orszag will soon step down, the first resignation among key administrative officials in President Barack Obama's economic team.

Orszag, the 41-year-old Office of Management and Budget director, is involved in the government's plan to freeze non-security discretionary spending for three years, White House Press Secretary Robert Gibbs told a press conference.

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U.S. to urge Japan, Germany to keep steps to boost demand

WASHINGTON - The United States will likely ask Japan and Germany to continue measures to boost domestic demand and not slash spending more than necessary when the Group of 20 economies gather for their summit in Canada this weekend, a senior U.S. Treasury official indicated Tuesday.

The U.S. position to press Japan and Germany, both countries with current account surpluses, is seen as a warning to Tokyo that Japanese Prime Minister Naoto Kan's fiscal consolidation policy should not dampen an economic recovery.

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Tokyo stocks open lower after Wall St. falls, weak U.S. data

TOKYO - Tokyo stocks opened lower Wednesday as U.S. stocks fell after weaker-than-expected U.S. existing home sales data chilled expectations for the strength of the U.S. economic recovery, with a stronger yen also dampening investor sentiment.

In the first 15 minutes of trading, the 225-issue Nikkei Stock Average lost 151.86 points, or 1.50 percent, from Tuesday to 9,961.03, falling below the 10,000 line for the first time since Friday.

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Dollar trades at lower 90 yen in early Tokyo deals

TOKYO - The U.S. dollar traded at the lower 90 yen zone early Wednesday in Tokyo, down from its levels overnight in New York.

At 9 a.m., the dollar traded at 90.38-39 yen compared with 90.54-64 yen in New York and 90.77-80 yen in Tokyo at 5 p.m. Tuesday.

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N.Y. stocks plunge on renewed fear about U.S. economic outlook

NEW YORK - New York stocks closed sharply lower Tuesday amid renewed concern about the U.S. economic outlook.

The 30-issue Dow Jones Industrial Average, which fell 8.23 points Monday, shed another 148.89 points to finish at 10,293.52.

 

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