Afternoon Coffee: GDP Growth Slows in Final Months of 2015, Takata CEO Will Not Resign, Company Says

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U.S. GDP increased 0.7% in the final quarter of 2015, down from the 2% growth in the third quarter. The slower growth in Q4 is attributed to a decline in exports and businesses reducing inventories, among other factors, the Department of Commerce reported.

The U.S. merchandise trade deficit also grew 2% in December, reaching $61.5 billion. The deficit was larger than economists had predicted.

Takata CEO Shigehisa Takada does not in fact intend to resign. News sources reported Thursday Takada originally was planning to announce his resignation and take responsibility for the company’s air bag recall.

Japan’s Minister for Economic Revitalization Akira Amari, did, however, resign on Thursday. The move came after reports surfaced of Amari taking bribes from a construction company in exchange for political favors. Amari led Japan's efforts in the Trans-Pacific Partnership.

The U.S. merchandise trade deficit also grew 2% in December, reaching $61.5 billion.

 

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