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Samurai Chops Off Realtor's Arm - (www.malaysia-chronicle.com) A Japanese man has been
arrested after lopping off the arm of the president of a real estate company
with a samurai sword. He also attacked two other employees, leaving them with
serious stomach wounds. Hifumi Kuwada was charged on Saturday over the
attempted murder of Katsumi Jitskata, the president of Daikyo Home, and two
workers with a 70cm blade. Employees Hiroshi Jitsukata, Kiyoshi Sato are
currently being treated in hospital for severe stomach lacerations. Kawada has
pleaded guilty to the charges. He reportedly smuggled the samurai into the
Daikyo Home’s offices inside a golf bag before embarking on the bloody rampage.
Kawada then fled the scene in his car, but was caught and arrested shortly
afterwards by local police. Japanese police suspect that the attack was
motivated by business interests. According to newspaper The Japan Times Hifumi
Kuwada runs a construction company and had ordered Daikyo Home to work on an
apartment building project.
N.J. Revenue May Trail Christie Forecasts by $1.3 Billion -
(www.bloomberg.com) New
Jersey’s revenue may fall below Governor Chris
Christie’s projections by as much as $1.3 billion through June 2013,
the Legislature’s chief budget analyst said, prompting the state's chief
executive to ask, “Why would anyone with a functioning brain believe this guy? Collections
may lag behind Christie’s targets by $668 million in fiscal 2012 and $635
million in the year that begins July 1, David Rosen of the nonpartisan Office
of Legislative Services told the Assembly Budget Committee today. The shortfall
estimated by Rosen is more than double the $537 million over the two-year
period that he projected for the budget panels in March. New Jersey revenue is
increasing at a pace that is “a good deal more modest than had been
anticipated” in Christie’s budget, Rosen said.
Fitch: Non-resident investors pulling out of Spain, Italy -
(www.reuters.com) The proportion of Spanish and
Italian public debt held by non-resident investors continued to fall in the
first quarter of 2012 as banks funded with cheap ECB money replaced
international institutional investors, according to Fitch Ratings. We expect
this trend to continue in the coming quarters. The pace of the withdrawal by
non-residents quickened in Spain, where we estimate that non-resident holdings
of Spanish public debt, excluding ECB holdings under the Securities Markets
Programme, dropped to 34% in Q112, from 40% at end-2011. It has been dropping
steadily from over 60% in 2008. The drop in private-sector non-resident
holdings of Italian debt has followed a different path. The total outflow in Italy has been less than in Spain,
with non-residents only accounting for around 50% of bondholders in 2008 and
the outflow did not start until Q311. Nevertheless non-resident holdings of
Italian debt have dropped to 32% and, although the pace has slowed, continue to
fall.
Spain calls for help to lower borrowing rates – (www.finance.yahoo.com) Worries about Greece's
electoral turmoil and Spain's spiraling borrowing costs are piling the pressure
on European Union leaders meeting in Brussels on Wednesday amid renewed market
pressure to keep the region's debt problems from getting worse. Spain's prime
minister warned that his country can't continue much longer with its current high
borrowing rates and urged a joint European response to help. Mariano Rajoy and
newly elected French President Francois Hollande, heading later in the evening
to meet other European Union leaders in Brussels, also stressed their
commitment to keeping Greece in the euro despite its political uncertainty. "Europe
has to come up with an answer. It is a must, because we cannot go on like this
for a long time, with large differences when it comes to financing ourselves.
And it is because of these differences that the policies that we Europeans
believe in, such as controlling government spending and reforms to encourage
growth, ultimately have no effect," Rajoy said in Paris alongside
Hollande.
Bond exodus on a par with eurozone bank run - (www.ft.com) A great deal of attention is being heaped on
the possibility of a bank run across the eurozone. But something just as
important is currently happening: a bond run. Foreign investors have left the
government and corporate bond markets of Italy and Spain in droves in the past
year and there is little evidence of the selling slowing down. If anything, the
worry would be that the process carries on for some time as it has done in
Greece, Ireland and Portugal. There is little doubt that a generalised bank run
across several countries would be disastrous. But so far there is scant
evidence of it. Deposits at Italian banks have increased in recent months while
those at Spanish banks have only dropped slightly.
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