SINGAPORE, Jan 23 (Reuters) - The Financial Times and the Wall Street Journal carried the following stories in their Asia print and/or website editions on Friday. Reuters has not verified these stories and does not vouch for their accuracy.
FINANCIAL TIMES (www.ft.com)
— Asia’s largest economies showed stark new evidence of contagion from the global financial crisis as China reported its slowest growth in seven years and Japan’s central bank admitted it faces two years of contraction and deflation.
— Tim Geithner, President Barack Obama’s choice for Treasury secretary, accused China of “manipulating” its currency and pledged “aggressive” diplomatic action to drive Beijing into action. — John Thain was ousted from Bank of America Corp (BAC.N), just three weeks after closing the sale of Merrill Lynch to BofA, in a sign of the deepening crisis surrounding the deal.
WALL STREET JOURNAL (www.wsj.com)
— Three of Asia’s powerhouse economies, China, Japan and South Korea, are stalling as demand for their goods from the U.S. and Europe wilts, and there are few signs of hoped-for increase in Chinese consumption that might help keep the global economy afloat.
— Sony Corp (6758.T) said it would report an annual loss for the first time in 14 years as plunging LCD television prices and a strong yen are forcing Chief Executive Howard Stringer to pursue his most drastic restructuring measures to date, more than doubling the cost cuts that were previously announced in December.
— The Senate Finance Committee approved the nomination of Timothy Geithner as Treasury secretary, clearing the way for the full Senate to consider his confirmation.