China's yuan hit a five-year peak on Monday after Beijing suddenly relaxed controls ahead of this weekend's G20 summit, sparking stock gains around the world and questions about just how far China's new currency flexibility would go.
China's yuan surged to a five-year peak on Monday, sending stocks higher across the globe as Beijing signaled ahead of this weekend's G20 summit that it would deliver on pledges of greater currency flexibility.
Barclays Plc's top two executives will tell a New York court this week that the British bank did not receive an unfair windfall from a deal for parts of Lehman Brothers in a case that shows the need for banks to draw up living wills.
Stocks rose on Monday as China's vow to allow a flexible yuan currency reassured investors about the global recovery and improved the profit outlook for many U.S. multinational companies.
A federal judge agreed to give Goldman Sachs Group Inc more time to respond to a lawsuit filed by U.S. securities regulators accusing the Wall Street bank of fraud.
Caterpillar Inc (CAT.N), the U.S. machinery giant that sells billions of dollars of earth-moving equipment and other products to China each year, said on Saturday it was heartened by China's move to gradually make the yuan more flexible, saying it would help lift U.S. exports.
Stocks rose on Monday but were off their session highs as China's vow to allow a flexible yuan invigorated optimism in the global recovery and raised the sales outlook for U.S. multinational companies.
The hike on individual long-term capital gains tax rate in 2011 may have interesting implications.
The Australian and New Zealand dollars rose to their highest levels in about a month on Monday after China let the yuan rise to a five-year high,raising optimism about global economic recovery.
China's move to allow greater currency flexibility will raise pressure on exports in the short term, but will be good for competitiveness in the long run, state media on Monday quoted a Commerce Ministry official as saying.
The price of gold Thursday topped $1,252 before settling at a close of $1,245 on a combination of unpleasant economic news and a drop in the US dollar against every major currency save the Canadian dollar. Liberty International Financial Services director of research, J.M. Schuler, anticipates that the price of gold will continue to climb in the weeks ahead.
Stocks climbed on Monday as China's vow to allow a flexible yuan invigorated optimism in the global recovery and raised the outlook for sales in the long term at U.S. multinationals.
Financial market stress eased further on Monday as investors cheered Beijing's vow to make its currency more flexible, but interbank euro funding costs rose again with excess money market liquidity set to drop.
Barnes & Noble Inc introduced a new Wi-Fi version of its Nook electronic book reader on Monday and lowered the price on its 3G-compatible Nook amid intensifying competition in the fast growing electronic-books industry.
Stocks were poised to rally at the open on Monday as China's vow to allow a flexible yuan invigorated optimism in the global recovery and raised the outlook for sales in the long term at U.S. multinationals.
The euro and Australian dollar hit their highest against the U.S. dollar in about a month on Monday after China allowed the yuan to rise to a post-revaluation high, boosting demand for riskier currencies.
China's yuan surged on Monday by the most of any day since its landmark revaluation in 2005, sending a clear signal ahead of this weekend's G20 summit that Beijing is keeping to its word and allowing greater currency flexibility.
China's yuan surged on Monday by the most of any day since its landmark revaluation in 2005, sending a clear signal ahead of this weekend's G20 summit that Beijing is keeping to its word and allowing greater currency flexibility.
Toshiba on Monday launched a dual-screened mini notebook PC that can be used as an e-book reader, adding to competition for the likes of Apple Corp's iPad and Amazon.com's Kindle.
China's yuan CNY=CFXS soared on Monday to its highest against the dollar since the landmark 2005 revaluation, with the central bank stepping aside and tolerating broad gains on the first trading day since scrapping the currency's two-year peg to the dollar.
Gold prices rose to a record high at $1,264.90 an ounce in Europe on Monday as a slip in the dollar added impetus to the metal's existing rally on the back of rising concerns over financial and sovereign risk.
Stock index futures rose sharply on Monday as global stocks gained after China's vow to allow a flexible yuan exchange rate boosted investor appetite for risky assets.
