Reuters

By Tetsushi Kajimoto

TOKYO (Reuters) - Japan's economy likely contracted an annualised 1.5% in the January-March quarter as all key drivers of growth slumped due to an uncertain outlook, a Reuters poll showed, which will probably set back Bank of Japan efforts to raise interest rates.

Cabinet Office data due out at 8:50 a.m. on May 16 (2350 GMT on May 15) is expected to show the economy's contraction would be equivalent to monthly decline... (continue reading...)

BEIJING (Reuters) - China firmly opposes the abuse of export control tools such as the U.S. entity list, a foreign ministry spokesperson said on Friday, after the U.S. added 37 Chinese firms to a trade restriction list over national security concerns.

Some of the entities were added to the list for making drones to be used by the Chinese military and others for shipping controlled items to Russia.

China and Russia have the right to carry... (continue reading...)

(Reuters) - U.S. insurance and home inspection software provider Porch Group is suing China Construction Bank Corp (CCB), the country's third-biggest lender by assets, for allegedly enabling a "massive fraud" that caused "monumental losses" for Porch.

Porch and its units accused the Chinese lender of conspiring with employees of the now bankrupt Israeli insurance firm Vesttoo to issue dozens of fake reinsurance letters of credit that guaranteed... (continue reading...)

(Reuters) - Global central banks are starting to break away from the pack as rate cuts roll out across Europe while borrowing costs in the U.S. may stay higher for longer, which is lifting the dollar.

A key test of U.S. inflation is at the heart of the data calendar and could be the deciding factor in the near-term direction for markets.

Here is your look at what's happening in markets this coming week from Rae Wee in Singapore, Ira... (continue reading...)

By Angelo Amante and Giuseppe Fonte

ROME (Reuters) - Governments have to implement "serious and effective" policies in favour of families to tackle the issues of falling birth rates and aging populations, Pope Francis said on Friday, urging young people to have confidence in the future.

Speaking at a conference on the growing demographic crisis, Pope Francis said the number of births was the first indicator of "a people's hope", and... (continue reading...)