Japan's FM poised to become next premier

Japan’s ruling party has elected Finance Minister Yoshihiko Noda as its new chief, meaning he will almost certainly become the next prime minister and inherit the challenge of rebuilding from the country’s disasters.

Mr Noda, 54, is known as a fiscal conservative. He defeated Trade Minister Banri Kaieda today in a run-off election 215-177 after none of the five candidates won a majority in the first round.