Business

Bank of Japan ends negative interest rate policy, opting for its first hike in 17 years

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Japan’s central bank raised its benchmark interest rate Tuesday for the first time in 17 years, ending a longstanding policy of negative rates meant to boost the economy. The Bank of Japan's lending rate for overnight borrowing by banks was raised to a range of 0 to 0.1% from minus… Read

Business

Dollar tops 150 yen as BOJ ends negative rates

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The U.S. dollar climbed past 150 yen Tuesday in Tokyo on yen selling fueled by expectations that the Bank of Japan will likely maintain an accommodative stance despite ending its negative interest rate policy. Stocks erased earlier losses and ended higher, with the Nikkei benchmark finishing at a two-week high… Read

Business

Asian shares are mixed after Bank of Japan ups key rate for 1st time in 17 years

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Shares were mixed in Asia on Tuesday after the Bank of Japan hiked its benchmark interest rate for the first time in 17 years, ending a longstanding negative rate policy at odds with the stances of most central banks. In a widely anticipated move, the BOJ raised its overnight call… Read

Business

China's economy shows signs of improvement, but its property sector still in the doldrums

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China's manufacturing and investment improved in the first two months of the year, while weakness in the property sector weighed on the economy, the National Bureau of Statistics said Monday. The report said industrial output rose 7% from a year earlier in January-February, better than analysts had forecast. Spending on… Read

Business

Elon Musk defends ketamine use

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Elon Musk suggested his use of drugs benefits Tesla investors in an interview released Monday, saying he takes prescribed ketamine to treat his "negative frame of mind." The 52-year-old tycoon confirmed he takes the anesthetic -- typically used for pain management and to treat depression -- following reports in the… Read

Business

Uber pays $178 million to end legal fight with Australian taxi drivers

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Global rideshare giant Uber will pay 272 million Australian dollars ($178 million) to settle a long-running dispute with Australian taxi and hire car drivers who lost out when the company entered the Australian market. A class action against Uber had been expected to go to trial in the Supreme Court… Read

Business

Japan business lobby chief hopes for gov't efforts to end deflation

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The head of Japan's biggest business lobby on Sunday expressed hope that the government of Prime Minister Fumio Kishida will take necessary measures to fully combat the country's decades-long deflation. In a speech at the annual convention of Kishida's ruling Liberal Democratic Party, Masakazu Tokura, chairman of the Japan Business… Read

Business

Bernie Sanders wants U.S. to adopt a 32-hour workweek

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The 40-hour workweek has been standard in the U.S. for more than eight decades. Now some members of Congress want to give hourly workers an extra day off. Sen. Bernie Sanders, the far-left independent from Vermont, this week introduced a bill that would shorten to 32 hours the amount of… Read

Business

Why are so many voters frustrated by the U.S. economy? It's home prices

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Lori Shelton can't fathom ever having the money to buy a home — and that's a major reason why so many voters feel down on the economy ahead of this year's presidential election. Shelton, 67, drives an Uber to help pay rent in Aurora, Colorado. An advance on her pay… Read

Business

Levi’s reopens Kyoto store offering elevated brand experience

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Levi Strauss & Co (LS&Co) on Friday announced the reopening of its Levi’s store in Kyoto. Located in the heart of Teramachi Kyogoku shopping district and featuring Levi’s cutting-edge NextGen store format, the store is emblematic of the brand’s commitment to bringing elevated shopping experiences to the world’s most desirable… Read

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