Japan Really?

(Newser) - While economists squabble over a possible US recession, Japan has quietly slipped into one. The country’s postwar riches have all but vanished, the Washington Post reports, as its GDP tumbles from fourth to twentieth among the world’s countries and its share of the world’s economy dips from 18% in 1994 to below 10% in 2006. More »

(Newser) - A widespread strain of the influenza virus is proving to be resistant to a common treatment, Time reports. The H1N1 virus, a subtype of influenza A (not to be confused with H5N1, the avian or bird flu) has shown rates of resistance of up to 10% in Europe, Canada, and the US for the drug oseltamivir, sold as Tamiflu. More »

(Newser) - Japanese whalers have resumed their hunt in Antarctic waters, killing at least five whales when protest ships pulled back to refuel, the Australian News Network reports. Witnesses reported seeing the whales harpooned in the Southern Ocean after ships from Greenpeace and another protest group withdrew. In Tokyo, the Australian foreign minister protested the resumed hunt. More »

(Newser) - Japan, worried that the globalization of sushi is embarrassing its national cuisine—think California rolls—is about to start certifying which of the estimated 25,000 Japanese restaurants around the world are authentic. Experts based in major cities, including London, Paris, and Los Angeles, will give eateries that pass muster a logo showing chopsticks holding a cherry petal and a rising-sun flag, reports AFP. More »

(Newser) - Defying pressure from the French government, Société Générale's board of directors today unanimously voted to keep co-chief executives Daniel Bouton and Philippe Citerne in their jobs. About 100 employees endorsed the sentiment by leaving the embattled bank's headquarters and standing on the sidewalk in a show of support for Bouton, reports the Wall Street Journal . More »

(Newser) - European stocks followed declines in Asian markets as news of more subprime woes overshadowed an anticipated 50 basis point rate cut from the Federal Reserve and some positive economic data from the US, AFP reports. London’s FTSE 100 was down 0.85%, the Paris CAC was off 1.54%, Frankfort’s DAX 30 dipped 0.67% and the Euro Stoxx 50 was off 0.80%. More »

(Newser) - Lead guitarist Jimmy Page has dropped some serious hints that a Led Zeppelin world tour may be on its way. Promoting the band's Mothership album in Japan, Page said the successful reunion concert in London in December proves that they're ready for a tour, reports the Daily Telegraph . “There is something in it but I can’t give you any more news at the moment," a spokesman said. More »

(Newser) - European and Asian markets slid again today as fears that the US is in a recession gained ground—despite efforts to shore up its economy and the likelihood the Fed would cut rates up to 50 basis points this week, reports Reuters. Commodity producers and banks suffered as investors worried about a global slowdown and anticipated more losses tied to the subprime contagion. More »