Minsk sends team to Moscow for crisis gas talks
Belarus said it was sending a delegation to Moscow on Sunday for eleventh-hour emergency talks with Russian gas giant Gazprom after Gazprom threatened to cut supplies over an unresolved price row. Russia has said it will cut 85 percent of gas supplies from Monday to Belarus if its ex-Soviet neighbor fails to pay $192 million in debts to Gazprom --- money Belarus denies it owes.
China's new yuan regime to look a lot like old one
China will keep the yuan's exchange rate at a basically stable level, the central bank said on Sunday, suggesting that the country's new currency regime will look a lot like the old one.
Fidelity looks to oust McGrath from UK Pru: report
One of the largest investors at British insurer Prudential will on Monday call for the resignation of chairman Harvey McGrath, the Sunday Times reported, citing sources.
Tensions easing ahead of second half
Tensions in global financial markets stemming from the euro zone's sovereign debt crisis appear to be easing, setting the stage for investors to dip back into risky assets in the second half of this year.
BP to raise $50 billion for oil spill costs: report
BP is planning to raise $50 billion to cover the cost of the largest oil spill in U.S. history, London's Sunday Times reported without citing sources. The paper said BP planned to raise $10 billion from a bond sale, $20 billion from banks and $20 billion from asset sales over the next two years.
Corrected: Yuan depegging long-term positive
China's decision to end the yuan's nearly two-year peg against the dollar will boost its stock market heavyweights, as it heralds a long-term yuan appreciation based on robust productivity growth and aids an economic adjustment toward less reliance on exports.
Factbox: Forecasts for yuan after China drops dollar peg
Following are forecasts by bankers and strategists on the level of expected yuan appreciation after China ditched its peg to the U.S. dollar.
Santos seen winning Colombian presidency
Colombians will vote on Sunday in a presidential run-off that former Defense Minister Juan Manuel Santos was expected to win after vowing to continue the incumbent president's policies on security and the economy.
Toyota parts plant back at work after China strike
Workers at a plastics parts supplier for Toyota Motor Corp in China resumed work on Sunday, ending a three-day strike over pay and benefits, state media said.
SAIC says plans share sale, stock trading halted
SAIC Motor Corp , China's biggest automaker, said it was planning a private placement of new shares and trading in its stock will be suspended from Monday.
Yuan shot heard round the world but quiet in China
China's announcement that it will resume currency reform made waves globally but caused barely a ripple at home on Sunday, with major newspapers merely reprinting the central bank's statement.
Analysts' View: China vows yuan flexibility ahead of G20
China will gradually make the yuan's exchange rate more flexible, the central bank said on Saturday, indicating that it was ready to break a 23-month-old U.S. dollar peg that has come under intense fire from abroad.
Peg is dead as China vows yuan flexibility before G20
China said on Saturday it would gradually make the yuan more flexible, in a gesture that may deflect foreign criticism at next week's G20 summit but will not quickly yield a big move by its currency.
Colombians turn to Facebook in final vote push
Supporters of the two candidates in Colombia's presidential run-off flooded the Internet on Saturday with urgent appeals for voters to cast ballots in an election that could suffer from low turnout.
Press group urges Kuwaiti ruler to free blogger
A global press freedom watchdog called on the Emir of Kuwait Saturday to intervene for the release of a blogger who is on trial, accused of insulting the ruler and inciting against the government.
Geithner says test is how much China yuan moves
Treasury Secretary Timothy Geithner welcomed China's decision on Saturday to make its yuan exchange rate more flexible, but said the test is how far and how fast they let the currency appreciate.
Dollar peg is dead as China vows yuan flexibility
China on Saturday said it would gradually make the yuan more flexible, in a gesture that may deflect foreign criticism at next week's G20 summit, but will not quickly yield a big move by its currency.
China's central bank statement on the yuan exchange rate
Below is a full text statement from The People's Bank of China on the yuan's exchange rate as posted on their website (http://www.pbc.gov.cn/english/detail.asp?col=6400&id=1488).
Factbox: Main features of China's currency system
China will gradually make the yuan's exchange rate more flexible, the central bank said on Saturday a week before a G20 summit, strongly suggesting that it was ready to break the currency's 23-month-old dollar peg.
Europe to urge exit from stimulus schemes at G20: Merkel
Europe will push for a swift exit from fiscal stimulus programs and a focus on budget consolidation at the G20 meeting next week, German Chancellor Angela Merkel said on Saturday.
BP CEO the ghost at the feast as Russia fetes big oil
The leaders of the global oil industry gathered as usual at Russia's top annual business forum this week but there was one ghost at the party.
Geithner eyes implementation of China yuan move
Treasury Secretary Timothy Geithner said on Saturday he welcomed China's decision to make its yuan exchange rate more flexible, and called for vigorous implementation of the change.
Gold still 'the safest haven': hits $1260/oz
Gold prices are set for yet another bull run on the back of concerns running high about European economy and investors rushing for gold under haven buying. The movement well understood when most of the investors opined that gold persist as the most safe investment instrument above all commodities and equities.
FIFA comes live here thanks to solar energy
As excitement mounts over the ongoing World Cup in Johannesburg, more than 2,000 residents formerly without access to electricity can plug into the soccer competition at 36 solar-operated television viewing points that SolarWorld has installed in remote African villages.
Is recovery around for sinking sugar stocks?
Once engorged to peak levels, the sugar prices have recently bottomed out at ten-month low levels on weak demand due to monsoon season and anticipation of higher-than-expected sugar production this year trimming the gains of the sugar stocks on the bourses.
Gold set to make new records
It was a week of rise and rise for gold as the precious metal scaled new heights by gaining strength from the safe haven buying. And, it seems there is no end to the gold rally as the metal is expected to cross new barriers in the coming week.
India gold imports at 739 tonnes: WGC
According to World Gold Council (WGC) figures, India has retained its position as world's largest gold consumer in the first quarter owing to a 49 percent recovery in demand, thanks to peak wedding and festival season. Gold imports stood at 739 tonnes during the period April 2009 - March 2010.
Toyota resumes China plant output as strike ends
Toyota Motor Corp avoided a prolonged suspension of production at its main Chinese car factory when a strike at a plastic parts supplier was settled on Saturday.
Greece officials confident on deficit target and growth
The budget deficit of debt-stricken Greece is declining and will meet its target, Economy Minister Louka Katseli said on Saturday, adding that she was optimistic of seeing some resumption of growth in 2011.
Crude Oil Holds on to Week's Gains After High Inventories Threaten Rally
Crude oil futures held on to strong gains for the week in lackluster Friday trading, after higher-than-expected inventories earlier in the week threatened to cut short the rally. At the same time, with the front-month July contract set to expire on Tuesday, analysts didn't see much incentive for prices to move above current levels next week.
