Miki’s reform drive tests Japan’s LDP unity in crisis
Tokyo reports Prime Minister Takeo Miki pushes for election reform and a tough antimonopoly law, challenging party factions worried about business funding. Despite internal grumbling, his pop ular measures and clean image bolster public support, though Diet passage and treaty approvals loom with uncertain prospects. The antimonopoly plan would let the Fair Trade Commission break up large firms and roll back prices in industry wide price fixing cases. Corporate donors and party reliance on business funding shape resistance to his overhaul of political donations.
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Wall Streeters Jumpy Over Pileup Of New Bonds
New York AP report shows heavy March and May bond issues raise borrowing costs and threaten recovery. Treasury and major corporations push record volumes, boosting rates to around 8.3 8.7 percent while GM 3M WarnerLambert Sears and P&G issue large bonds amid rising inflation fears.
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