News Headlines - 26 May 2013

▽Japan plays down concerns bond price spike could hurt recovery - Telegraph

Haruhiko Kuroda, the Bank of Japan governor, said analysis by the central bank last month showed that the country could withstand an increase in market interest rates of as much as 3pc, as long as there were accompanying improvements in the economy.

▽Obama Visits Tornado-Hit Oklahoma Town, Promises Aid

U.S. President Barack Obama has toured a tornado-ravaged town in the south-central state of Oklahoma, offering comfort and long-term federal aid for survivors of last week's storm that killed 24 people.

▽BBC suspends chief technology officer and ends digital plan – after a ￡100m bill - The Independent

The BBC has scrapped an ambitious attempt to create a digital production system and archive after admitting it had wasted almost ￡100m, adding that to continue the project would be “throwing good money after bad”. The Digital Media Initiative (DMI), which aimed to create a production system linked to the Corporation’s vast broadcasting archive, has cost ￡98.4m since it started in 2008.

▽How to take a serious bite out of corporate tax avoidance | guardian.co.uk

A new system of unitary taxation must be debated at the next G8 meeting. It isn't perfect, but it would be a huge step forward

▽Global majority faces water shortages 'within two generations' | guardian.co.uk

The majority of the 9 billion people on Earth will live with severe pressure on fresh water within the space of two generations as climate change, pollution and over-use of resources take their toll, 500 scientists have warned.