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Consumer Corner: Foreclosure settlement no magic bullet for economy
TOKYO, Nov. 9 (UPI) -- Japan's Transportation Ministry expects to have a package ready by this week to rescue troubled Japan Airlines, Minister Seiji Maehara said.
The package is expected by Friday when the airline is scheduled to report earnings for the first half of the fiscal year ended in September.
The rescue package is being prepared on instructions from Prime Minister Yukio Hatoyama, the Kyodo news agency reported. The airline is expected to report a big group loss Friday due to the global recession that affected its international revenue, the report said.
''With the release of JAL's interim earnings results approaching, we will further discuss (the rescue package) with the premise that we will not create a situation in which airplanes do not fly,'' Maehara told reporters.
The country's largest airline, facing a cash shortage, has applied for support from a government-backed corporate turnaround body, Kyodo said.
The rescue package may include a call for special legislation for mandatory cuts in JAL's high corporate pension benefits and a reduction in landing fees and aviation fuel taxes, the report said.
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SYDNEY, Feb. 13 (UPI) --
Researchers in Australia are developing a solar roof system that uses wasted energy to warm air and water.
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SAN DIEGO, Feb. 13 (UPI) --
Northrop Grumman reports it will work on the second phase of the U.S. Navy project to deploy new tactical computing network systems aboard ships.
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Local markets will probably not be swamped by waves of foreclosures following the multi-state mortgage settlement announced yesterday. Rather, the huge inventory of one to two million foreclosures will enter markets gradually....
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Investors will not have the distraction of financial reports to look forward to this week. They will have to look at the spot news headlines instead.
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