|
If you take a look at the major dollar crosses then the decline in the greenback has been a multi-year event. If the dollar remains on this downward path then the natural question to ask is how long can it maintain its position as the world’s reserve currency? This is a potent question at the [...]
China’s central bank should reduce intervention in the foreign-exchange market to better reflect market demand for the yuan, Yu Yongding, a former academic adviser to the People’s Bank of China, said today. “China has the conditions for a one-off appreciation although it must be accompanied by some other measures, such as strengthening management of cross-border [...]
European Central Bank President Jean- Claude Trichet signaled the bank will wait until after June to raise interest rates again, wrong-footing some investors who had expected a quicker move to fight inflation. The euro plunged. “We are never pre-committed and we can increase rates whenever we judge it appropriate,” Trichet said at a press conference [...]
Intel Corp. (INTC), aiming to gain a toehold for its chips in the mobile-phone market, has designed a handset that may be manufactured by China’s ZTE Corp. (000063), according to two people with knowledge of the plan. Intel has supplied a design for the phone, based on a version of its Atom microprocessor, that may go [...]
The root canal Americans experienced over the averted government shutdown may seem painless compared with the operation that’s coming: debate over raising the debt ceiling followed by House Budget Committee Chairman Paul Ryan’s plan to overhaul the government. The political fates of President Barack Obama and most of Congress depend on the outcome. While the stakes [...]
Popular Inc. (BPOP), Puerto Rico’s largest lender, amassed record losses during the credit crisis and got a $935 million injection from U.S. taxpayers. Now a loan to a real estate venture overseen by the chief executive officer’s nephew is burning a hole in the bank’s books. Popular loaned the money two years ago to a [...]
Nasdaq OMX Group Inc. (NDAQ), operator of the second-biggest U.S. stock exchange, will take its $11.3 billion unsolicited bid for NYSE Euronext to shareholders after its directors rejected the offer in favor of their merger agreement withDeutsche Boerse AG. (DB1) NYSE Euronext affirmed its $9.67 billion agreement with Frankfurt-based Deutsche Boerse yesterday, saying it will [...]
The sharpest drop in unemployment in more than a quarter century obscures a simple fact: The jobs market still isn’t working for many Americans. Some 6.3 million people have been out of work and looking for a job for more than six months. The employment-to-population ratio is lower than it was when the recession ended [...]
New Zealand’s Prime Minister John Key expects the central bank to cut interest rates as the nation grapples with the aftermath of the deadliest earthquake in 80 years. The local currency slid to the lowest level this year. “We’d certainly welcome it,” Key, 49, said in an interview in Wellington today. “The market has priced in [...]
The Federal Reserve Bank of San Francisco Tuesday named its top economist John Williams as its new president, replacing Janet Yellen. Williams, who has been the Bank’s executive vice president and director of research since 2009, was top advisor to Yellen before she became vice chairman of the Fed Board of Governors. Yellen has cited [...]