Japan’s ruling Liberal Democratic Party has likely strengthened its majority in the country’s Lower House, with the LDP capturing between 274 and 328 in the 465 seat chamber, according to an early projection by broadcaster NHK.

This was broadly in line with what polls had suggested, with Nikkei and Asahi Shimbun predicting that the LDP and its coalition partner, the Japan Innovation Party would secure more then 300 seats in the Lower House.

People trudged through heavy snow in several parts of the country to cast their votes.

Before parliament was dissolved, the LDP-JIP coalition held a combined 230 seats, and with three independents voting with the LDP, this effectively gave the ruling coalition a one seat majority in the chamber.

Prime Minister Sanae Takaichi dissolved the Lower House on Jan. 23, a move that was seen as an attempt to quickly strengthen the ruling coalition’s position in the chamber by capitalizing on her high public approval ratings.

Polls compiled by Japanese media outlet Nippon.com showed that Takaichi remains popular heading into the election, although her support has slipped slightly in the recent weeks.

The outlet reported that just one domestic poll in January indicated more than 70% support, compared to three in December, while six polls showed support in the 60% range, up from four in the previous month.

The election comes amid heightened tensions between Japan and China, as well as persistent concerns over the yen’s weakness and inflation in the country.

Japan has endured inflation above the Bank of Japan’s target for 45 consecutive months, declining real wages and persistent yen weakness.

The most recent inflation reading stood at 2.1%, while full-year inflation reached 3.2%. Real wages fell for 11 consecutive months year-on-year in 2025, and on a yearly basis, real wages have fallen every year since 2022.

The yen weakened further at the start of 2026, briefly approaching the 160 level against the U.S. dollar. While a weaker currency benefits exporters, it has also amplified imported inflation.

Takaichi had earlier laid out a record $783 billion budget for the next fiscal year starting April 1, on top of a $135 billion stimulus package introduced last year to help households with rising living costs.

— This is a developing story. Please check back for details.

India and New Zealand on Monday announced a free trade deal that will make a majority of the goods trade between the two countries duty free.

The trade pact, which will be reviewed after one year, will be signed in the first half of next year.

“This historic agreement eliminates and reduces tariffs on 95% of New Zealand’s exports,” New Zealand Trade and Investment Minister Todd McClay said in a statement, adding that nearly 57% of exports from the country will become duty-free in India “from day one.”

The pacific island nation will also invest $20 billion in India over next 15 years and allow mobility of professionals, skilled labor and students from India to New Zealand, according to a statement from India.

India has also secured a “zero duty market” on all its exports to New Zealand that includes textiles, apparel, leather, footwear, marine products, gems and jewelry, handicrafts, engineering goods and automobiles.

 “Today this Free Trade Agreement is about building trade around people and launching opportunities,” India’s Commerce Minister Piyush Goyal said.

The deal will give Indian businesses and youth an opportunity to “learn, work and grow on a global stage,” he added.

India will eliminate tariff on sheep meat, wool, coal and nearly all of forestry and wood exports. New Delhi will also allow duty-free access for dairy and other food ingredients for re-exports.

However, to ensure protection to farmers and the domestic industry, New Delhi has said the market access excludes dairy, coffee, milk, cream, cheese, yoghurts, whey, caseins, onions, sugar, spices, edible oils, rubber.

India’s trade pact with New Zealand “provides policy certainty and lowers input costs for manufacturing, creating a vision for long-term economic resilience,” said Ranjeet Mehta, chief executive officer and secretary general, of Indian industry body PHDCCI.

Bilateral merchandise trade between the two countries stood at $1.3 billion in 2024–25 while total trade in goods and services was $2.4 billion in 2024. “The FTA provides a stable and predictable framework to unlock the full potential of this relationship,” India’s commerce ministry said.

The FTA marks India’s third deal this year following a free trade agreement with the UK in July and another pact with Oman earlier this month.

The deals comes at a time when the U.S., New Delhi’s largest trading partner, has levied 50% tariffs on its goods exports, that includes 25% duties for India’s purchases of Russian oil.

India, which has ambitions to become an export powerhouse, has been looking to diversify its exports to make up for the impact of U.S. tariffs.

After steep tariffs came into force in August, India’s exports to the…

The Buss family has agreed to sell a majority stake of the Los Angeles Lakers to businessman Mark Walter in a deal that values the team at $10 billion, according to people with knowledge of the terms.

The sale would mark a new record for NBA valuations. The Crypto.com Arena, where the Lakers play, is owned by AEG and is not included in the deal.

CNBC’s most recent Official NBA Team Valuations ranked the Lakers as third in the league in terms of value, at $7 billion.

“Mark Walter is entering into an agreement to acquire additional interests in the NBA’s Los Angeles Lakers, which he has been a stakeholder since 2021,” a representative for Walter said in a statement to CNBC.

The Lakers did not immediately respond to a request for comment.

As part of the deal, Jeanie Buss will retain a minority stake in the team she has owned since her family purchased the franchise in 1979 for $67.5 million. She will also retain her governor seat.

Walter is CEO and co-founder of Guggenheim Partners and is not new to sports ownership. He is also the majority owner of MLB’s Los Angeles Dodgers, WNBA’s Sparks and Cadillac’s forthcoming Formula 1 team. He also owns the Professional Women’s Hockey League.

Former Lakers legend Earvin “Magic” Johnson, who is also a business partner of Walter’s, praised the transaction in a post on X.

“Job well done to my sister Jeanie Buss for striking an incredible deal and picking the right person to carry on the Lakers legacy and tradition of winning,” Johnson said. “Mark Walter is the best choice and will be the best caretaker of the Laker brand.”

NBA valuations have skyrocketed since the league completed its most recent media rights agreement, valued at $77 billion over 11 years.

In March, the Boston Celtics sold for a then-record of $6.1 billion to private equity executive Bill Chisholm.

The Celtics and Lakers are arguably two of the most marquee franchises in the NBA.

In February, the Lakers acquired Dallas Mavericks superstar Luka Doncic to team up with LeBron James.

The Lakers finished the 2025 season as the No. 3 seed in the Western Conference with a 50-32 record.

The Lakers have won 11 NBA titles since the Buss family took over, the most of any NBA franchise during that period.

— CNBC’s Michael Ozanian contributed to this report.