News Headlines - 14 May 2015

▽Japan cabinet agrees military expansion rules - Yahoo News

Japan's cabinet on Thursday approved a set of bills bolstering the role and scope of the military, as the pacifist country redefines its position in the increasingly roiled Asia-Pacific region.

▽Japan’s Current Account Soars to Highest Surplus in Seven Years - WSJ

Japan posted its biggest current account surplus in seven years in March, as a jump in overseas investment income and a fall in imports put the balance back at a level last seen regularly before the global financial crisis.

▽Taiwan introduces new rules on Japanese food imports | Shanghai Daily

Taiwan will enforce new rules on Japanese food imports from May 15 amid heightened safety concerns after food from near Japan's Fukushima nuclear power plant has illegally entered the island under false origin labels.

▽Japan arrests son of unofficial North Korean envoy in mushroom case - The Washington Post

Police arrested the son of North Korea’s unofficial ambassador to Japan on Tuesday for allegedly smuggling expensive mushrooms into the country, in the latest incident underlining the increasing tensions between Tokyo and Pyongyang.

▽Japan's Sharp announces bank bailout and job cuts - BBC News

Japanese electronics maker Sharp has agreed a 200bn yen ($1.7bn; ￡1bn) bailout from banks, after announcing further losses and job cuts.
It is Sharp's second bailout in three years.
The Osaka-based firm reported a larger-than-expected net loss for the year to March of 222bn Japanese yen ($1.86bn; ￡1.18bn).
The firm also said it would cut about 10% of its global workforce, including 3,500 jobs in Japan.