TOKYO - Japanese stocks soared 4.8 percent to their highest close since November 2007 and the yen skidded to near seven-year lows against the dollar on Friday, after the Bank of Japan surprised markets with fresh easing steps it called a pre-emptive move to stoke inflation.
Recent Business News
- Citigroup Inc said it was setting aside an extra $600 million to cover legal expenses in the third quarter due to "rapidly evolving regulatory inquiries," while also disclosing that it was subject to foreign exchange market probes.
LONDON - Royal Bank of Scotland said it had set aside 400 million pounds ($639 million) to cover potential fines for manipulating currency markets and another 100 million to compensate customers mis-sold loan insurance.
In a comparison of 14 industrialized countries, the United States trailed only Italy in the pollsters' index of ignorance about the realities of modern life.