Business

Japan is in final talks with Washington on an agreement on cuts in Iranian crude oil imports that could amount to more than 20 percent a year, the Nikkei business daily reported on Thursday, as Tokyo seeks to win waivers from U.S. sanctions. Japan and the United States will reach a basic agreement by the end of February, sparing Japan’s three main banks that currently handle payments to Iran from penalties, the Washington-datelined report said, without citing sources.

Japan Airlines Co. (9205) will order 10 more Boeing Co. (BA) 787s, boosting a backlog to 45, as it expands international operations following a state-backed turnaround.

The airline will also convert 10 existing 787 orders to the larger -9 version from the smaller -8, according to a statement today.

When Japanese Prime Minister Yoshihiko Noda and his Chinese counterpart Wen Jiabao met in December, a deal by Tokyo to buy Chinese government bonds was hailed by the two as way to bring the major trading partners even closer together. More >

Japanese core machinery orders fell 3.7% in January, as demand from nonmanufacturers weakened, the government said Wednesday. But the data contained some bright spots in business spending.

Panasonic Corp. on Wednesday revealed the price for its first 3-D TV set, confirming that $3,000 is about what it takes to be among the first to watch 3-D movies in the home.

The Japanese company put its first 3-D sets on sale at an event in New York on Wednesday. Panasonic’s suggested retail price is $2,900 for a 50-inch plasma set, one pair of glasses and a 3-D Blu-ray player. An extra pair of glasses costs $150.