Japan pulls trigger on $116bn stimulus package

The Japanese government has approved a fresh 10.3 trillion yen ($116bn; £72bn) stimulus package to shore up its flagging economy.

Prime Minister Shinzo Abe announced the decision at a news conference where he said the new measures will add 2% to Japan's real economic growth. The country is currently in recession after global consumer demand softened, leading to an impact on exports, while domestic consumption fell. The package will include infrastructure spending, as well as incentives for businesses to boost investment. Measures to rebuild areas devastated by the earthquake and tsunami of 2011 are also included in the new package. "Unfortunately, the previous administration failed to work out how to boost gr...