By Jihoon Lee
SEOUL (Reuters) - South Korea's factory activity contracted again in April, but manufacturers' optimism climbed to the highest level in nearly two years as output and orders managed to post marginal growth, a private-sector survey showed on Thursday.
The purchasing managers index (PMI) for manufacturers in Asia's fourth-largest economy, compiled by S&P Global, fell to 49.4 in April, from 49.8 in March, on a seasonally... (continue reading...)
By Leika Kihara
TOKYO (Reuters) -Many Bank of Japan board members agreed the country's long-term interest rates should be set by markets, with some saying the central bank should at some point slow the pace of bond buying, minutes of their March policy meeting showed on Thursday.
At the March meeting, the BOJ ended eight years of negative interest rates and its bond yield control in a historical shift away from its prolonged radical stimulus... (continue reading...)
By Clark Mindock
(Reuters) - A Washington state appeals court on Wednesday overturned a $185 million verdict against Bayer's Monsanto unit over chemical contamination at a Seattle-area school, marking the second big legal win for the company in as many weeks.
Monsanto spinoff Pharmacia, which sold now-banned chemicals called polychlorinated biphenyls, was found liable in 2021. Three teachers claimed they suffered brain damage from PCBs... (continue reading...)
SINGAPORE (Reuters) - Asian stocks got off to a shaky start on Thursday after the Federal Reserve flagged delays to interest rate cuts, while the dollar fell heavily on the yen in what traders reckoned was Japanese intervention.
Oil fell sharply overnight as the prospect of cuts seemed more distant and after a surprise jump in U.S. stockpiles, with Brent crude futures hitting a seven-week low of $83.44. [O/R]
Japan's Nikkei fell 0.7% at... (continue reading...)
By Trevor Hunnicutt
WASHINGTON (Reuters) - President Joe Biden said on Wednesday that "xenophobia" from China to Japan and India is hobbling their growth, as he argued that migration has been good for the U.S. economy.
"One of the reasons why our economy's growing is because of you and many others. Why? Because we welcome immigrants," Biden said at a Washington fundraising event for his 2024 re-election campaign and marking the start of... (continue reading...)
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