News Headlines - 29 August 2011

▽Japan's Next PM May Help JGBs,But Strong Yen Woes May Persist - Wall Street Journal
Japanese Finance Minister Yoshihiko Noda's victory in a ruling party leadership contest that virtually guarantees he will become the country's next prime minister could help the country's government bonds extend their recent gains.
But Noda will need to stay in power long enough to see his fiscally conservative policies through, which is hardly a given in Japan's fractious political world. If he lasts and makes progress on tax hikes and fiscal consolidation, as he has advocated, that would likely dispel some concerns that reconstruction spending after the March 11 quake will sharply increase the country's already massive debt.

▽Japanese TV star retires over yakuza links - Telegraph.co.uk
One of the most famous faces on Japanese television has retired from showbusiness after his friendship with a member of a notorious "yakuza" gang was revealed.

▽Notting Hill Carnival: Record number of police officers - BBC
The second day of the Notting Hill Carnival is under way with record numbers of police officers on duty.
More than 6,500 police officers were to take to the streets in an effort to prevent trouble in the wake of riots in London earlier this month.

▽Number of long-term unemployed doubles - The Independent
The number of long-term unemployed has more than doubled since the financial crisis struck in 2008, leaving tens of thousands of people with little chance of ever working again, according to the Institute of Public Policy Research.
More than 400,000 people have been unemployed for over two years – the highest number since 1997. Being out of work for two years or more severely curtails someone's chances of getting another job, according to a new report by the think tank to be published later this week. People lose their skills, fall behind in training and lose their confidence if they are out of work for too long, making them much less attractive to new employers.

▽The government turns its attention to the Fletcher case - Spectator.co.uk
http://www.spectator.co.uk/coffeehouse/7199648/the-government-turns-its-attention-to-the-fletcher-case.thtmlThe Lockerbie bomber, Abdel Basset al-Megrahi, is at death’s door. His relatives told journalists that he is ‘comatose’ at a family house in Tripoli. There have been calls to extradite Megrahi in recent days; last week, the ubiquitous William Hague said that he hoped the Scottish authorities were considering the matter.







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