And shifting to Japan. <br />The country's most profitable auto manufacturer, Toyota, has reportedly turned down the biggest wage hike request by its labor union... in nearly 17 years. <br />According to Bloomberg, union sources say management offered a counter-proposal on Monday. <br />The pending deal outlines a monthly wage increase of about 33 U.S. dollars, falling short of the initial request by one-third. <br />The Japanese government has been pushing exporters to raise wages in return for its efforts in pushing down the yen. <br />Leading domestic carmakers, including Toyota, say the economic boost isn't enough to offset the higher labor costs.
