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- Japanese stocks stay on course for a fresh multiyear high after the country’s central bank raises its economic outlook. But Australian and Hong Kong shares reverse early gains amid cautio...
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Weak yen a help for Japan, but headache elsewhere
By ELAINE KURTENBACH
From Associated Press
May 22, 2013 3:00 AM EDT

TOKYO (AP) — A steady decline in the yen is proving a godsend for exporters such as Toyota and has won solid support from Japan's main trading partners, who are betting the impact on their own currencies will be offset by gains from a recovery in the world's third-largest economy. It's not such good news for entrepreneurs like Thamonwan Thawornthaweewong, whose Angry Bird fish balls, squid rings and other products now cost more to sell in Japan.

TOKYO (AP) — Japan's central bank says the world's third-biggest economy is "picking up" as demand recovers in other countries and remains resilient at home, though the trade deficit widened in April, for the tenth straight month.

BANGKOK (AP) — Asian stock markets were mostly higher Wednesday after investor confidence was boosted by a Federal Reserve official's comments that the U.S.

DETROIT (AP) — Detroit auto factories are forgoing their traditional two-week summer break and speeding up production to meet buyers' growing demand for new cars and trucks.

REDMOND, Wash. (AP) — Will gamers want One? After four years of development, Microsoft unveiled the Xbox One entertainment console and touted it as an all-in-one solution for playing games, watching TV and doing everything in between.

WASHINGTON (AP) — Now that tech darling Apple Inc. has been dragged front and center into the debate over the U.S. tax code, lawmakers are hoping that the spotlight on such a high-profile company could be the catalyst for Congress to take action to close loopholes or reform the law.

WASHINGTON (AP) — When Ben Bernanke testifies about the U.S. economy Wednesday, the Federal Reserve chairman's words will be examined for any clues that the Fed might soon taper — or increase — its support for the economy.

WASHINGTON (AP) — Far-reaching legislation that grants a chance at citizenship to millions of immigrants living illegally in the United States cleared the Senate Judiciary Committee on a solid bipartisan vote Tuesday night after supporters somberly sidestepped a controversy over the rights of gay spouses.

TOKYO (AP) — Japan's trade deficit widened to a larger-than-expected 879.9 billion yen ($8.6 billion) in April as its weakening currency accentuated surging import costs.

REDMOND, Wash. (AP) — Microsoft thinks it has the one. The company unveiled the Xbox One, an entertainment console that wants to be the one system households will need for games, television, movies, sports and other entertainment.

BUENOS AIRES, Argentina (AP) — Three former Ford Motor Co. executives were charged Tuesday with crimes against humanity for allegedly targeting Argentine union workers for kidnapping and torture after the country's 1976 military coup.

TAMPA, Fla. (AP) — Jamie Dimon, the CEO and chairman of JPMorgan Chase, easily survived a vote Tuesday that would have called on him to give up his role as chairman of the nation's largest bank.

MINNEAPOLIS (AP) — Best Buy Co. on Tuesday reported a loss for its fiscal first quarter as it sold its stake in Best Buy Europe and works on a turnaround plan that includes cutting costs and closing some stores.

NEW YORK (AP) — Reassuring comments from a Federal Reserve official and better earnings from two big retailers helped push the stock market higher Tuesday.

WASHINGTON (AP) — Twitter is booming as a social media destination for teenagers who complain about too many adults and too much drama on Facebook, according to a new study published Tuesday about online behavior.

CAIRO (AP) — Egypt's president signed a new tax law Tuesday that cuts the amount paid by poorer Egyptians in the latest move aimed at reforming the country's economy.

NEW YORK (AP) — Stocks are closing higher on Wall Street as investors bank on continued support from the Federal Reserve. The Dow Jones industrial average rose 52 points to close at 15,387 Tuesday, an increase of 0.3 percent.

OVERLAND PARK, Kan. (AP) — Sprint Nextel Corp. is offering 14 percent more than before for the stake in wireless data network operator Clearwire Corp.

NEW YORK (AP) — It's one thing to say tech geniuses don't need degrees. After all, Bill Gates, Steve Jobs and Mark Zuckerberg all dropped out of college.

NEW YORK (AP) — The stock market turned higher Tuesday as investors banked on continued policy support from the Federal Reserve. Two big retailers also topped Wall Street expectations for the most recent quarter.

NANTERRE, France (AP) — The makers of a diabetes and weight loss drug suspected in the deaths of hundreds of people went on trial Tuesday, facing charges they misled the public about the product's safety.

BERLIN (AP) — German software giant SAP AG said Tuesday it plans to recruit people with autism to take make full use of their talents to process information.

NEW YORK (AP) — Stock indexes are edging higher in midday trading on Wall Street as investors look ahead to the Federal Reserve's next moves.