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Japan unexpectedly falls into a recession

Japan slipped into a recession in the last quarter, according to fresh economic data. The unexpected news appears likely to prompt Prime Minister Shinzo Abe to announce that he will dissolve the House of Representatives, possibly as early as Wednesday, and hold a snap election. Abe also is expected to delay a plan to raise a consumption tax from 8 percent to 10 percent. The tax was just increased from 5 percent in April. Read more at Bloomberg.