Tokyo / DPA Japan’s consumer spending is lagging as households prefer savings over investments, despite an upward trend in personal income due to improved employment conditions, according to a Bank of Japan survey. The total amount of financial assets possessed by individuals in cash or savings hit a record high of 902 trillion yen (US$7.98 trillion) at the end of …

Bloomberg Standard Chartered Plc dropped the most in a month as oil fell and Australia & New Zealand (ANZ) Banking Group Ltd. warned plunging resource prices had pushed up bad debts, renewing concern that the British lender may face more pain from its own commodity loans. ANZ, which has Australia’s biggest exposure to commodities, said provisions for bad debts would …

Bloomberg Chiba Bank Ltd. is forming an alliance with Musashino Bank Ltd. in what could herald a new way for Japanese regional lenders to cope with industry headwinds without resorting to merging. The banks, based in prefectures that border with Tokyo, will acquire shares in each other, they said in statements. While the amount and timing are yet to be …