China's yuan suffers biggest one-year loss since 1994
SHANGHAI China's yuan strengthened against the dollar on Friday, but was on track for its biggest annual loss since 1994, which would make it the worst performing major Asian currency this year.The yuan CNY=CFXS, which has reached an 8-1/2 year low, was on course to shed nearly 7 percent against the dollar in 2016.Many market watchers expect the yuan to recoil further next year if President-elect Donald Trump's policies stoke stronger U.S. economic growth and higher interest rates.UK-based Fat..>> view originalAsian stocks mixed ahead of New Year's weekend
By Kenan Machado Reuters A guard stands in front of celebratory barrels of New Year’s sake Thursday in Tokyo. Asia’s equity markets ended 2016 slightly higher, despite a number of unexpected global events that had threatened to throw markets into disarray. With China the main exception, major Asian stock markets rose for the year. Aust..>> view originalChina to ease curbs on foreign investment in banks
SHANGHAI--China says it will give foreign companies long-sought greater access to its financial industry. Investment restrictions will be relaxed in banking, securities, fund management, futures and insurance, Ning Jizhe, vice chairman of the National Development and Reform Commission, said during a press conference Friday, without elaborating. Current rules limit foreign investors in China's securities industry to 49% stakes in joint ventures set up with local partners. Earlier this week Premi..>> view originalGlobal Stocks on Track to End Strong 2016 on a Soft Note
SEOUL, South Korea รข€” Global stocks are ending a strong year on a soft note, with European markets down and Asia making few gains on Friday.The euro jumped higher against the dollar for no clear reason, though thin trading volumes in currency markets tend to exacerbate moves.KEEPING SCORE: Britain's FTSE 100 fell 0.3 percent to 7,102 while France's CAC 40 declined 0.2 percent to 4,830. Germany's DAX was also down 0.2 percent, at 11,427. Futures augured a lackluster start on Wall Street, where..>> view originalPaschi Rescue to Cost Italy 6.6 Billion Euros, Central Bank Says
Italy’s rescue of troubled lender Banca Monte dei Paschi di Siena SpA will cost the government about 6.6 billion euros ($7 billion), the country’s central bank says, providing the first official estimate of public funding.About 4.6 billion euros are needed to meet capital requirements and 2 billion euros would be required to compensate the lender’s retail bondholders, the Bank of Italy said in a statement late Thursday. There also would be an additional 2.2 billion euros of costs borne by insti..>> view originalHindsight 2016: Carpooling picked up with UberPool, Lyft Line and Via
This was the year many Chicagoans started getting in cars with a stranger. Or four.Ride-hailing companies Lyft and Uber launched carpool-style services in late 2015, and experts predicted early this year those services would begin to take hold. At year-end, the companies said riders were indeed increasingly opting to share rides with others for a discounted price. “More and more people are choosing to … ride along with somebody else here, which is great because obviously in Chicago, congestio..>> view originalNew wood technology may offer hope for struggling timber
In this Nov. 11, 2016 photo, John Redfield, chief operating officer of D.R. Johnson Lumber Co. in Riddle, Ore., poses for a photo as he shows an example of a cross-laminated timber, or CLT, panel that underwent a flammability test. D.R. Johnson is one ...>> view originalRun-DMC founder sues Amazon, Wal-Mart over trademark
He said the defendants are confusing consumers into believing that Run-DMC endorsed their products and are trading on the goodwill associated with the name, in violation of federal trademark and New York unfair competition laws. "Plaintiff will suffer immediate and irreparable injury, loss, or damage" unless the infringements are stopped, according to the complaint filed in the U.S. District Court in Manhattan. Other defendants include Jet.com, an online retailer that Wal-Mart is buying..>> view originalCould Amazon stop a Ron Swanson with a gun? A new patent for drone protection shows the retailer is trying
We’ve all thought about it after learning about Amazon.com’s ambitious effort to fill the skies with its unmanned delivery drones. What happens if someone tries to take one of these flying merchandise-hauling contraptions down?The idea was famously touched upon in an episode of NBC political comedy “Parks & Recreation,” when stanchly libertarian Luddite Ron Swanson (played by Nick Offerman) shoots a delivery drone with a hunting rifle. Last year, a Kentucky man did just that to a neighbor’s dro..>> view originalWiring maker General Cable will pay $82.3M in SEC case
Bowdeya Tweh, Cincinnati Enquirer 6:30 p.m. EST December 29, 2016The Department of Justice headquarters building in Washington(Photo: J. David Ake, AP) General Cable, a company that makes wiring, will pay $82.3 million to the federal government to resolve investigations into accounting practices and potential violations of a law that prohibits the payment of bribes to foreign officials.The company, based in Highland Heights, Ky., said Thursday it entered into agreements with the Se..>> view original
Tuesday, January 10, 2017
China's yuan suffers biggest one-year loss since 1994 and other top stories.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment