DRC News Feed
By Kevin Yao BEIJING (Reuters) - China's factory activity shrank for the fourth straight month in April, signalling economic weakness into the second quarter, a preliminary survey showed on Wednesday, although the pace of decline eased helped by policy steps to arrest the slowdown. "It's generally in line (with expectations), reflecting that growth momentum is stabilising," said Zhou Hao, China economist at ANZ in Shanghai. Hao expected economic growth to pick up slightly to 7.5 percent in the second quarter. MODEST STIMULUS MEASURES China's central bank will cut the amount of deposits rural banks must hold as reserves by between 0.5 and 2 percentage points, it said on Tuesday, the latest in a series of measures to help combat the slowing economy.
By Leika Kihara TOKYO (Reuters) - Bank of Japan Governor Haruhiko Kuroda said consumer inflation may exceed the central bank's projection in the fiscal year that ended in March, voicing confidence the world's third-largest economy continues to make headway in meeting its price target. Deputy Governor Hiroshi Nakaso added to the optimism, stressing that Japan can withstand the pain from a sales tax hike that kicked off this month as companies are increasing hiring and wages due to brighter prospects for the economy. "I think consumer inflation was actually slightly higher in fiscal 2013 than our current projection of 0.7 percent," Kuroda told a parliamentary session on Wednesday. "For now, we can say Japan is making steady progress toward achieving 2 percent inflation." His remarks suggest the BOJ will revise up the previous fiscal year's price forecast and maintain its bullish projections for subsequent years in its twice-yearly outlook report due out next week.
DAVIDSON, N.C. (AP) — The candidate in North Carolina's Republican Senate primary with backing from the party's Washington establishment came under little direct criticism Tuesday night as his top rivals had their first real chance to challenge him face to face.
North Korea is unlikely to be ready to stage a nuclear test timed to coincide with U.S. President Barack Obama's visit to Asia, a respected think tank said on Wednesday based on its assessment of satellite imagery. Comments by South Korea's foreign ministry that the North could be moving towards what would be its fourth nuclear test prompted the U.S. State Department to urge Pyongyang to "refrain from actions that threaten regional peace". North Korea continually works on improving testing at its Punggye-ri site. Satellite imagery analysed by 38North, which is part of Johns Hopkins University, said that while there had been a pickup in activity, there were few signs of an imminent test.
Plaintiffs suing the company also filed a proposed class action lawsuit in Manhattan bankruptcy court on Monday, seeking an order declaring that GM cannot use the bankruptcy protection to absolve itself from liabilities. The faulty ignition switch has been linked to at least 13 deaths and the recall of 2.6 million GM vehicles. GM emerged from bankruptcy protection in 2009 as a different legal entity from the so-called old GM. Under those terms, the "new GM" shed liability for incidents predating its exit from bankruptcy, and any lawsuit involving pre-bankruptcy issues must be brought against what remains of old GM.
(Reuters) - Germany's largest lender Deutsche Bank is trimming its equities team in Latin America and is considering shutting its equities business in Chile, Bloomberg reported on Wednesday citing two people familiar with the matter. The bank is trimming headcount in locations that serve Latin America such as Sao Paulo and Santiago as well as New York, Bloomberg reported citing sources. However the bank does not plan to cut jobs in Mexico, a location it considers a priority along with Brazil, Bloomberg said citing one of the sources. The company will continue to invest in more profitable businesses in Latin America, Bloomberg said.
By Anthony Boadle BRASILIA (Reuters) - Brazil's Senate unanimously approved groundbreaking legislation on Tuesday that guarantees equal access to the Internet and protects the privacy of Brazilian users in the wake of U.S. spying revelations. President Dilma Rousseff, who was the target of U.S. espionage according to documents leaked by former NSA analyst Edward Snowden, plans to sign the bill into law. The legislation, dubbed Brazil's "Internet Constitution," has been hailed by experts, such as the British physicist and World Wide Web inventor Tim Berners-Lee, for balancing the rights and duties of users, governments and corporations while ensuring the Internet continues to be an open and decentralized network. To guarantee passage of the bill, Rousseff´s government had to drop a contentious provision that would have forced global Internet companies to store data on their Brazilian users on data centre servers inside the country.
OSO, Wash. (AP) — Swooping over a landscape of unspeakable sadness and death, President Barack Obama took an aerial tour Tuesday of the place where more than three dozen people perished in a mudslide last month. He pledged a nation's solidarity with those who are enduring "unimaginable pain and difficulty" in the aftermath of the destruction.
By Richard Valdmanis BOSTON (Reuters) - Rwandan President Paul Kagame said on Tuesday it was too early to say whether he will seek a third term as head of the east African state, adding "whatever will happen, we'll have an explanation." Articles in pro-government newspapers in recent years have raised the prospect of him staying on after his mandate expires in 2017, a move that would anger his critics and require a change to the constitution. Whatever will happen, we'll have an explanation." He was responding to a student's question about how he imagined his political role in Rwanda after his term ends. He accused the "international community" of destabilizing neighbouring Democratic Republic of Congo by allowing people who committed the Rwandan genocide to later escape into Congo's eastern hills and giving them guns. Millions have died in eastern Congo, home to myriad rebel groups, since the end of Rwanda's genocide.