Shizuka Kamei News
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Shizuka Kamei was stripped of his position as leader of Japan’s People’s New Party after he threatened to pull it out of the coalition government to protest a sales tax increase, the Yomiuri newspaper reported.
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Japanese Prime Minister Yoshihiko Noda faced new challenges to his leadership as a member of the ruling group rejected his plan for a sales-tax boost and opposition widened to his nominee for the central bank board.
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Shozaburo Jimi was named as Japanese Financial Services Minister, replacing Shizuka Kamei who quit after new Prime Minister Naoto Kan declined to extend the parliamentary session to pass changes to banking and postal laws.
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Deposit Insurance Corp. of Japan said a government proposal to increase deposit insurance could prove costly and unnecessary.
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Japanese Prime Minister Yoshihiko Noda’s coalition ally called on Defense Minister Yasuo Ichikawa to quit over a deputy’s gaffe, saying the outcry over the incident could undermine the government.
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Shinsei Bank Ltd. Chief Financial Officer Rahul Gupta may resign following government criticism of the company’s compensation policy, a person with direct knowledge of the matter said.
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The chief of Japan’s People’s New Party, Shizuka Kamei, will step down from her cabinet position with Prime Minister Naoto Kan’s government, Kyodo News reported, citing an unidentified official with the People’s New Party.
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The head of Citibank Japan Ltd., Darren Buckley, may step down from the post as soon as this month as regulators prepare to punish the bank for the third time since 2004, said two people with knowledge of the situation.
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Prime Minister Yoshihiko Noda faces escalating pressure to secure support for higher taxes after Japan’s budget plan for the next fiscal year showed a record dependence on borrowing.
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Shizuka Kamei resigned as Japan’s Financial Services Minister after Prime Minister Naoto Kan declined to extend the parliamentary session to pass changes to banking and postal laws.
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