Kyodo news summary -3-

(Japan Economic Newswire Via Acquire Media NewsEdge) TOKYO, Jan. 17 -- (Kyodo) _ ---------- U.S. regulator to ground Boeing 787s over battery fire risk WASHINGTON - The U.S. Federal Aviation Administration said Wednesday it will direct airlines to temporarily ground all Boeing 787 Dreamliners to address a potential battery fire risk, following an incident involving one of the passenger jets flown by All Nippon Airways Co. in Japan.

"As a result of an in-flight, Boeing 787 battery incident earlier today in Japan, the FAA will issue an emergency airworthiness directive to address a potential battery fire risk in the 787 and require operators to temporarily cease operations," the U.S. regulator said in a statement.

---------- Sharp in talks with Lenovo on LCD TV business tie-up OSAKA - Struggling electronics maker Sharp Corp. is in talks with Lenovo Group Ltd. of China to form an alliance in the liquid crystal display television business, sources close to the matter said Thursday.

In the envisioned business tie-up, Sharp is aiming to sell its LCD TV assembly plant in Nanjing to Lenovo and cooperate in development and sales of TVs in China, the sources said.

---------- FOCUS: Bureaucratic fight over revived fiscal council to test Abe's mettle TOKYO - The revival of the Council on Economic and Fiscal Policy, which was all but non-existent under the ousted Democratic Party of Japan government, sets the stage for Prime Minister Shinzo Abe to boldly promote aggressive monetary easing and other policies to revive the economy.

But with government ministries involved bickering over who should take charge in policy-planning and running the council, Abe's caliber as leader is also likely to be tested.

---------- Japanese bond yield remains flat in morning TOKYO - The yield on the benchmark 10-year Japanese government bond remained flat Thursday morning as earlier selling to lock in gains ran its course.

The yield on the No. 327, 0.8 percent issue, the main barometer of long-term interest rates, ended morning interdealer trading at 0.745 percent, unchanged from Wednesday's close.

---------- Tokyo stocks rebound on weaker yen TOKYO - Tokyo stocks rebounded Thursday morning, supported by a weaker yen, with their upside capped by a series of negative news stories, such as the grounding of airliners and the hostage-taking in Algeria of foreign nationals including Japanese.

The 225-issue Nikkei Stock Average gained 19.30 points, or 0.18 percent, from Wednesday to 10,619.74. The broader Topix index of all First Section issues on the Tokyo Stock Exchange was up 2.54 points, or 0.29 percent, at 890.65.

---------- Renesas announces early retirement plan for 10% of employees TOKYO - Struggling Japanese chipmaker Renesas Electronics Corp. said Thursday it will solicit early retirements among employees aged 40 and above, anticipating applications from more than 3,000 employees, or about 10 percent of its total workforce.

The state-backed Innovation Network Corp. of Japan, slated to become Renesas' top shareholder, has been calling on the company to cut its workforce by up to 5,000 and strengthen its financial base.

---------- Japan, U.S. agree to work closely on hostage crisis in Algeria TOKYO - Foreign Minister Fumio Kishida and Kurt Campbell, the visiting assistant U.S. secretary of state for East Asian and Pacific affairs, agreed Thursday to work closely on the hostage crisis involving foreign workers including Japanese and U.S. nationals at a gas facility in Algeria.

The senior U.S. diplomat told reporters after his meeting with Kishida in Tokyo that the two countries are "in very close, hourly consultations" on the crisis, which he described as "very serious." (c) 2013 Kyodo News International, Inc.

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