TOKYO (MNI) - Despite the Hatoyama administration's bid to cut low-priority or "wasteful" spending, several ministries have requested budget hikes for next fiscal year, contributing to a record total in excess of Y90 trillion, the Nikkei and other media reported Friday.

The current record is the Y89.15 trillion requested for fiscal

By Kimberlee Kruesi

WASHINGTON (MNI) - The Chrysler bankruptcy has set a dangerous precedent by encouraging large companies to stray from the traditional bankruptcy process, financial experts said Thursday.

During the Chrylser bankruptcy, the Obama administration restructured the process to result in a preferred outcome, argued David

By Heather Scott

WASHINGTON (MNI) - The U.S. Treasury said Thursday it has not found any major trading partner guilty of manipulating its currency, though it did conclude that China's currency remains undervalued.

In its semi-annual report to Congress on International Economic and

By Brai Odion-Esene

WASHINGTON (MNI) - Former Federal Reserve chairman Alan Greenspan said Thursday the U.S. government cannot continue to speak out in favor of a strong dollar as long as current budget deficit issues remain "unattended."

WASHINGTON (MNI) - U.S. and Chinese officials will convene the latest high-level gathering on trade issues Oct. 28-29 in China, the U.S. Trade Representative and Commerce Departments announced Thursday.

U.S. Commerce Secretary Gary Locke and U.S. Trade Representative Ronald Kirk, will meet with Chinese Vice Premier Wang Qishan and others

TOKYO (MNI) - Japanese Prime Minister Yukio Hatoyama has suggested that the government may have to allow the issuance of deficit-financing bonds to cover expected revenue shortfalls when it drafts the budget for fiscal 2010, the Nikkei reported on Thursday.

"Deficit-covering bonds are something that should be avoided, but

"Some participants saw the decline in yields on Treasury securities and other instruments as an indication that the expansion of excess reserve balances was putting downward pressure on market rates," say the minutes, while "some others viewed the configuration of rate movements as consistent with reduced concerns about inflation and with lower term

By Steven K. Beckner

(MNI) - Federal Reserve policymakers were quite concerned about the sustainability of the economic recovery at their late September meeting, minutes released Wednesday show.

The Fed's policymaking Federal Open Market Committee left the overnight federal funds rate near zero on September 23, vowed to keep it