China to scrap foreign investment quotas to attract more money into its stock, bond markets

Investors watch the electronic board at a stock exchange hall on February 11, 2019 in Chengdu, Sichuan Province of China. China’s foreign exchange regulator said on Tuesday that it had decided to scrap quota restrictions on two major inbound investment schemes, as a weakening yuan and rising outflows prompt Beijing to seek to attract more foreign capital. It said the move would “make it much more convenient for overseas investors to participate in China’s domestic financial markets, making China


Investors watch the electronic board at a stock exchange hall on February 11, 2019 in Chengdu, Sichuan Province of China. China’s foreign exchange regulator said on Tuesday that it had decided to scrap quota restrictions on two major inbound investment schemes, as a weakening yuan and rising outflows prompt Beijing to seek to attract more foreign capital. It said the move would “make it much more convenient for overseas investors to participate in China’s domestic financial markets, making China
China to scrap foreign investment quotas to attract more money into its stock, bond markets Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-09-11
Keywords: news, cnbc, companies, quotas, yuan, capital, bond, investment, money, stock, attract, markets, qfii, china, investors, overseas, outflows, scrap, foreign, exchange, chinas


China to scrap foreign investment quotas to attract more money into its stock, bond markets

Investors watch the electronic board at a stock exchange hall on February 11, 2019 in Chengdu, Sichuan Province of China.

China’s foreign exchange regulator said on Tuesday that it had decided to scrap quota restrictions on two major inbound investment schemes, as a weakening yuan and rising outflows prompt Beijing to seek to attract more foreign capital.

While underlining China’s thirst for overseas funding as its economy slows amid a debilitating trade war with the United States, the move also appears largely symbolic, as two-thirds of the existing quotas remain unused.

China’s State Administration of Foreign Exchange (SAFE) would remove quotas on the dollar-dominated qualified foreign institutional investor (QFII) scheme and its yuan-denominated sibling, RQFII, it said in a statement on its website.

It said the move would “make it much more convenient for overseas investors to participate in China’s domestic financial markets, making China’s bond and stock markets more broadly accepted by international markets.”

The removal of quotas comes amid an escalating Sino-U.S. trade war that threatens growth in the world’s second-biggest economy.

Beijing hopes that foreign capital inflows could help to offset rising outflows and lend support to its yuan, which has dropped to its lowest levels against the U.S. dollar since the onset of the global financial crisis in 2008.

Inflows could also help bolster China’s balance of payments, as some analysts fear the country is slipping dangerously towards twin deficits in its fiscal and current accounts.

The removal “is a clear signal that policymakers want to encourage capital inflows,” wrote Win Thin, Global Head of Currency Strategy at Brown Brothers Harriman.

“The corollary is that they are still very worried about capital outflows and so will make sure to avoid any steps that might increase them,” he said.

China in January doubled the QFII quota to $300 billion, but only $111.4 billion of the limit had been used by foreign investors by the end of August.

China’s securities regulator also published draft rules earlier this year that would combine the QFII and RQFII programmes while also simplifying access for overseas investors.


Company: cnbc, Activity: cnbc, Date: 2019-09-11
Keywords: news, cnbc, companies, quotas, yuan, capital, bond, investment, money, stock, attract, markets, qfii, china, investors, overseas, outflows, scrap, foreign, exchange, chinas


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Hong Kong stock exchange makes $36.6 billion offer for London stock exchange

Hong Kong Exchanges and Clearing Limited (HKEX) said Wednesday it has made a proposal to the board of London Stock Exchange Group Plc (LSE) to “combine the two companies,” in a deal which values the LSE at about £29.6 billion ($36.6 billion). The HKEX said the deal would be funded by a combination of existing cash and a new credit facility. HKEX has proposed £20.45 a share in cash, as well as 2.495 newly issued HKEX shares. LSE shares rallied shortly after 10:00 a.m. London time, rising by 8.5%


Hong Kong Exchanges and Clearing Limited (HKEX) said Wednesday it has made a proposal to the board of London Stock Exchange Group Plc (LSE) to “combine the two companies,” in a deal which values the LSE at about £29.6 billion ($36.6 billion). The HKEX said the deal would be funded by a combination of existing cash and a new credit facility. HKEX has proposed £20.45 a share in cash, as well as 2.495 newly issued HKEX shares. LSE shares rallied shortly after 10:00 a.m. London time, rising by 8.5%
Hong Kong stock exchange makes $36.6 billion offer for London stock exchange Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-09-11  Authors: david reid
Keywords: news, cnbc, companies, hong, announcement, statement, values, kong, 366, makes, deal, london, offer, lse, hkex, shares, cash, work, exchange, stock, billion


Hong Kong stock exchange makes $36.6 billion offer for London stock exchange

Hong Kong Exchanges and Clearing Limited (HKEX) said Wednesday it has made a proposal to the board of London Stock Exchange Group Plc (LSE) to “combine the two companies,” in a deal which values the LSE at about £29.6 billion ($36.6 billion).

The HKEX said the deal would be funded by a combination of existing cash and a new credit facility. It cautioned, however, that its statement to the market should be considered as an announcement to make a possible offer and is not confirmation of a firm intention to bid.

The statement from HKEX said a further announcement will be made “as and when appropriate.”

HKEX has proposed £20.45 a share in cash, as well as 2.495 newly issued HKEX shares. LSE shares rallied shortly after 10:00 a.m. London time, rising by 8.5% before giving up some of the initial gains.

HKEX said it expected key LSE management to keep their jobs and work for the new owners.


Company: cnbc, Activity: cnbc, Date: 2019-09-11  Authors: david reid
Keywords: news, cnbc, companies, hong, announcement, statement, values, kong, 366, makes, deal, london, offer, lse, hkex, shares, cash, work, exchange, stock, billion


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EU-Swiss trading dispute has Brexit implications, says Swiss stock exchange boss

A stock exchange dispute between Switzerland and the European Union could be a sign of things to come for the U.K., according to the CEO of Switzerland’s biggest exchange. European traders were banned from trading stock in hundreds of Swiss companies at the beginning of July, in response to the EU allowing the recognized equivalence status of the Swiss stock exchange to lapse. Jos Dijsselhof, CEO of SIX Group, which runs the SIX Swiss Stock Exchange, told CNBC Thursday that the EU’s tactics duri


A stock exchange dispute between Switzerland and the European Union could be a sign of things to come for the U.K., according to the CEO of Switzerland’s biggest exchange. European traders were banned from trading stock in hundreds of Swiss companies at the beginning of July, in response to the EU allowing the recognized equivalence status of the Swiss stock exchange to lapse. Jos Dijsselhof, CEO of SIX Group, which runs the SIX Swiss Stock Exchange, told CNBC Thursday that the EU’s tactics duri
EU-Swiss trading dispute has Brexit implications, says Swiss stock exchange boss Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-09-09  Authors: elliot smith
Keywords: news, cnbc, companies, implications, swiss, brexit, bill, stock, trading, equivalence, exchange, dispute, boss, city, financial, london, euswiss, services


EU-Swiss trading dispute has Brexit implications, says Swiss stock exchange boss

A stock exchange dispute between Switzerland and the European Union could be a sign of things to come for the U.K., according to the CEO of Switzerland’s biggest exchange. European traders were banned from trading stock in hundreds of Swiss companies at the beginning of July, in response to the EU allowing the recognized equivalence status of the Swiss stock exchange to lapse. Post-Brexit, the U.K. will have to pursue a similar “equivalence” relationship for the City of London with the EU based on the existing alignment of the two regulatory systems. Brussels and Bern have been in a lengthy ongoing standoff over a host of bilateral treaties governing Switzerland’s political relationship with the bloc. Jos Dijsselhof, CEO of SIX Group, which runs the SIX Swiss Stock Exchange, told CNBC Thursday that the EU’s tactics during the ongoing disagreement indicated that Brussels was getting tougher with third party countries.

“Switzerland is technically equivalent, the EU has just used this as a political means to hold the Swiss hostage to talk about the overall framework agreement,” Dijsselhof told CNBC’s “Squawk Box Europe”. “You do see that the stance of the EU against third party countries is hardening more and more, and we in Switzerland have seen that, and you see that also in the EU-U.K. discussion also, so it is an example of how hard it can be.”

The Financial Services Bill

The U.K.’s former Prime Minister Theresa May aimed to build an “equivalence plus” regime with the EU, the details of which would have been negotiated had her “Withdrawal Agreement” passed through parliament. In the event of a no-deal Brexit, the 2017 Financial Services Bill would have enabled the equivalent functioning of the City to continue for two years after Brexit. But the government shelved the Financial Services Bill in March in anticipation of a defeat in the House of Commons over a taxation amendment. It has yet to schedule the remaining stages of the bill. Moritz Kraemer, chief economic advisor at Acreditus, told CNBC that the bill was crucial in allowing Brussels and London to implement current equivalent EU rules on financial services for the next two years.

“Now with parliament prorogued, there is going to be no time to pass this bill before October 31, so it is critical for the functioning and the continued equivalence for the City of London that either they squeeze somehow the end to parliament, to pass it before October 31, or the extension of Article 50 happens,” Kraemer said. “Otherwise, the City of London could actually end up operating in a limbo vis-a-vis the EU – that would be hugely detrimental and disruptive for both sides.”

Bad for capital markets


Company: cnbc, Activity: cnbc, Date: 2019-09-09  Authors: elliot smith
Keywords: news, cnbc, companies, implications, swiss, brexit, bill, stock, trading, equivalence, exchange, dispute, boss, city, financial, london, euswiss, services


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Foreign exchange markets tell us no-deal Brexit is a risk: Strategist

Foreign exchange markets tell us no-deal Brexit is a risk: Strategist13 Hours AgoSarah Hewin, chief economist for Europe and Americas at Standard Chartered Bank, gives her take on what Brexit means for markets.


Foreign exchange markets tell us no-deal Brexit is a risk: Strategist13 Hours AgoSarah Hewin, chief economist for Europe and Americas at Standard Chartered Bank, gives her take on what Brexit means for markets.
Foreign exchange markets tell us no-deal Brexit is a risk: Strategist Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-30
Keywords: news, cnbc, companies, exchange, hours, nodeal, strategist13, standard, strategist, tell, hewin, foreign, markets, means, risk, brexit


Foreign exchange markets tell us no-deal Brexit is a risk: Strategist

Foreign exchange markets tell us no-deal Brexit is a risk: Strategist

13 Hours Ago

Sarah Hewin, chief economist for Europe and Americas at Standard Chartered Bank, gives her take on what Brexit means for markets.


Company: cnbc, Activity: cnbc, Date: 2019-08-30
Keywords: news, cnbc, companies, exchange, hours, nodeal, strategist13, standard, strategist, tell, hewin, foreign, markets, means, risk, brexit


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The head of security for cryptocurrency exchange Coinbase describes his biggest challenge: Education

Coinbase security chief Philip Martin has a big challenge: Explaining the fundamentals of security to customers whose financial worth absolutely depends on remembering their passwords and keeping their keys safe. But at a typical bank, cryptography is often limited to two basic categories: masking personal information, like Social Security numbers, and ensuring websites are secured. What that means is that you can’t revoke a cryptocurrency key, if that key is lost, compromised, there is no abili


Coinbase security chief Philip Martin has a big challenge: Explaining the fundamentals of security to customers whose financial worth absolutely depends on remembering their passwords and keeping their keys safe. But at a typical bank, cryptography is often limited to two basic categories: masking personal information, like Social Security numbers, and ensuring websites are secured. What that means is that you can’t revoke a cryptocurrency key, if that key is lost, compromised, there is no abili
The head of security for cryptocurrency exchange Coinbase describes his biggest challenge: Education Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-18  Authors: kate fazzini
Keywords: news, cnbc, companies, key, keys, encryption, head, way, challenge, biggest, exchange, describes, coinbase, cryptocurrency, information, social, martin, security, education, transactions


The head of security for cryptocurrency exchange Coinbase describes his biggest challenge: Education

Coinbase security chief Philip Martin has a big challenge: Explaining the fundamentals of security to customers whose financial worth absolutely depends on remembering their passwords and keeping their keys safe.

“We have the problem of a global cryptocurrency company figuring out how to talk about security, in a way that plays in Japan in San Francisco and in Europe, and across the age divide, in a way that actually resonates to the people we’re talking to,” he said.

Coinbase is one of the largest cryptocurrency trading and payment platforms, most recently valued at around $8 billion, and supports more than a quarter million bitcoin transactions per day.

Financial companies have to deal with encryption as part of the day-to-day security duties. But at a typical bank, cryptography is often limited to two basic categories: masking personal information, like Social Security numbers, and ensuring websites are secured. But cryptocurrency wallets are different, because encryption plays such a fundamental role. This is new to a lot of consumers working with Bitcoin for the first time, Martin said.

“We deal with long-lived keys that we generate that live for a very long time, that are the direct controller of liquid value,” said Martin, who previously served as an information security lead at Palantir Technologies and in U.S. Army counterintelligence.

“Possession of a key is possession of your currency. What that means is that you can’t revoke a cryptocurrency key, if that key is lost, compromised, there is no ability to get [the value] back.”

This makes the stakes of theft of encrypted data more severe, than, say, the theft of encrypted social security data at a financial institutions, he explained. “The consequences of loss are much higher.” It also means attackers are much more aggressive about gaining access to that encryption, he said.

Those high consequences mean Coinbase’s security organization must help contribute to a broad communication plan to customers, that helps explain clearly how to handle their keys, passwords and other important information for securing their accounts.

For those new to cryptocurrency, “a lot of work is going to how do I interact with the ecosystem? How do I act differently here than if I am protecting my social media account?” he said.

Traditional banks have an advantage, he added, in that “transactions in the traditional fiat system are reversible,” whereas transactions via blockchain are by and large irrevocable. Banks might have more problems with wire fraud involving CEO impersonation, but cryptocurrency users are often subject to cold-call “tech support” scams, he said, in which a criminal calls a customer to convince them to give up valuable security information, starting with “I’m here to help you with your coinbase account problem.”


Company: cnbc, Activity: cnbc, Date: 2019-08-18  Authors: kate fazzini
Keywords: news, cnbc, companies, key, keys, encryption, head, way, challenge, biggest, exchange, describes, coinbase, cryptocurrency, information, social, martin, security, education, transactions


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Pivotal Software surges 60% after VMware says it’s in talks to acquire the company

President of the New York Stock Exchange Thomas Farley and executives from Pivotal Software ring the opening bell at the New York Stock Exchange April 20, 2018. VMware also said in a regulatory filing that it has requested that Dell exchange all outstanding shares of Pivotal’s class B stock, other than class B Pivotal shares owned by VMware, for Class A VMware stock. On June 5 Pivotal stock declined 41% after the company issued guidance that was below what analysts were expecting. As a result of


President of the New York Stock Exchange Thomas Farley and executives from Pivotal Software ring the opening bell at the New York Stock Exchange April 20, 2018. VMware also said in a regulatory filing that it has requested that Dell exchange all outstanding shares of Pivotal’s class B stock, other than class B Pivotal shares owned by VMware, for Class A VMware stock. On June 5 Pivotal stock declined 41% after the company issued guidance that was below what analysts were expecting. As a result of
Pivotal Software surges 60% after VMware says it’s in talks to acquire the company Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-14  Authors: jordan novet
Keywords: news, cnbc, companies, agreement, pivotal, shares, pivotals, outstanding, acquire, company, dell, talks, vmware, surges, software, stock, class, 60, exchange


Pivotal Software surges 60% after VMware says it's in talks to acquire the company

President of the New York Stock Exchange Thomas Farley and executives from Pivotal Software ring the opening bell at the New York Stock Exchange April 20, 2018.

Pivotal shares rose as much as 72% in extended trading on Wednesday after VMware said it’s proceeding with an agreement to acquire all outstanding shares of Pivotal’s class A stock at $15 per share in cash, an 80.7% premium on Pivotal’s $8.30 closing price.

VMware also said in a regulatory filing that it has requested that Dell exchange all outstanding shares of Pivotal’s class B stock, other than class B Pivotal shares owned by VMware, for Class A VMware stock. Dell controlled almost 81% of VMware’s outstanding common stock and more than 97% of the combined voting power of VMware’s outstanding stock as of May 3. Dell and Pivotal are negotiating an exchange ratio for the shares.

The transaction could contribute to the further diversification of VMware, which has moved to collaborate with cloud infrastructure providers like Amazon in order to enable existing customers to run their computing workloads in whatever environment they like.

Shares of Pivotal have declined 66% in the past year. On June 5 Pivotal stock declined 41% after the company issued guidance that was below what analysts were expecting.

Pivotal went public in April 2018. VMware and DellEMC both contributed assets when Pivotal was established in 2013.

As a result of an agreement with Dell, VMware is the selling agent for certain Pivotal products, such that VMware collects cash that is then remitted to Pivotal, net of a contractual agency fee. As of May 3, VMware had a 16% financial interest in Pivotal and a 24% voting interest in the company.

In a statement of its own, Pivotal said on Wednesday that although it is in talks with VMware about a “potential business combination,” an agreement has not been made.


Company: cnbc, Activity: cnbc, Date: 2019-08-14  Authors: jordan novet
Keywords: news, cnbc, companies, agreement, pivotal, shares, pivotals, outstanding, acquire, company, dell, talks, vmware, surges, software, stock, class, 60, exchange


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CBS and Viacom negotiating share exchange ratio between 0.5960 and 0.5965 for merger

CBS and Viacom are finalizing their merger agreement, negotiating a share exchange ratio between 0.5960 and 0.5965, people familiar with the matter said. An exchange ratio of about .59625 — the midpoint of the narrow range — would value Viacom at nearly $12 billion with an enterprise value of more than $20 billion. CBS will exchange its shares for each Viacom Class B share. Viacom shares were down about 3.3% Monday morning, trading within the exchange ratio range. CBS shares were down less than


CBS and Viacom are finalizing their merger agreement, negotiating a share exchange ratio between 0.5960 and 0.5965, people familiar with the matter said. An exchange ratio of about .59625 — the midpoint of the narrow range — would value Viacom at nearly $12 billion with an enterprise value of more than $20 billion. CBS will exchange its shares for each Viacom Class B share. Viacom shares were down about 3.3% Monday morning, trading within the exchange ratio range. CBS shares were down less than
CBS and Viacom negotiating share exchange ratio between 0.5960 and 0.5965 for merger Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-12  Authors: alex sherman
Keywords: news, cnbc, companies, cbs, negotiating, share, ratio, merger, viacom, exchange, shares, range, talks, value, rights, 05965, 05960


CBS and Viacom negotiating share exchange ratio between 0.5960 and 0.5965 for merger

CBS and Viacom are finalizing their merger agreement, negotiating a share exchange ratio between 0.5960 and 0.5965, people familiar with the matter said.

The negotiations could finish as soon as Monday, the sources said, adding that the deal could be announced in the afternoon or Tuesday morning. The talks are ongoing, and nothing has been finalized, the people said.

An exchange ratio of about .59625 — the midpoint of the narrow range — would value Viacom at nearly $12 billion with an enterprise value of more than $20 billion. CBS will exchange its shares for each Viacom Class B share.

Viacom shares were down about 3.3% Monday morning, trading within the exchange ratio range. CBS shares were down less than 1%.

CBS and Viacom declined to comment.

A merger will add movie studio Paramount Pictures, cable networks such as Comedy Central, MTV, Nickelodeon and BET and assets including the streaming service Pluto TV and South Park Studios to CBS, which owns the eponymous broadcast network and other cable and media assets.

Shari Redstone, whose National Amusements is the principal owner of both companies, has advocated for a deal to give a combined company more financial heft to compete against media and tech heavyweights including Amazon and Apple for entertainment and sports rights, most notably the National Football League. CBS owns NFL broadcast rights until 2022 and “will do what is necessary” to renew them, according to CBS Sports chief Sean McManus.

CBS and Viacom nearly merged a year ago before a rift over who would run the combined company derailed discussions. Viacom also scrapped plans to merge with CBS in 2016.

The companies restarted merger talks in earnest this year after CBS replaced six members of its board of directors and its CEO, Les Moonves, in September. Moonves stepped down as chairman and CEO amid sexual misconduct allegations. Discussions have dragged on throughout the year as the new CBS board has become more comfortable with the idea of merging with Viacom rather than pursuing other paths.

This story is developing.


Company: cnbc, Activity: cnbc, Date: 2019-08-12  Authors: alex sherman
Keywords: news, cnbc, companies, cbs, negotiating, share, ratio, merger, viacom, exchange, shares, range, talks, value, rights, 05965, 05960


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J.C. Penney faces NYSE delisting

J.C. Penney is at risk of delisting from the New York Stock Exchange after shares of the department store chain traded under $1 for a period of 30 consecutive business days, the company said Thursday. J.C. Penney said it will notify the exchange in the next 10 business days of the plan. Shares of the department store chain have plunged more than 70% over the past year, and it reported a first-quarter financial loss of $154 million. J.C. Penney is also burdened with roughly $4 billion in debt, wi


J.C. Penney is at risk of delisting from the New York Stock Exchange after shares of the department store chain traded under $1 for a period of 30 consecutive business days, the company said Thursday. J.C. Penney said it will notify the exchange in the next 10 business days of the plan. Shares of the department store chain have plunged more than 70% over the past year, and it reported a first-quarter financial loss of $154 million. J.C. Penney is also burdened with roughly $4 billion in debt, wi
J.C. Penney faces NYSE delisting Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-08  Authors: jasmine wu
Keywords: news, cnbc, companies, exchange, nyse, store, york, stock, department, penney, chain, company, days, faces, jc, delisting


J.C. Penney faces NYSE delisting

J.C. Penney is at risk of delisting from the New York Stock Exchange after shares of the department store chain traded under $1 for a period of 30 consecutive business days, the company said Thursday.

The company said it received notice on Tuesday and has six months to regain compliance with the requirement. It said it will consider a reverse stock split at its next shareholder’s meeting, to prop its share price above $1 if that doesn’t happen on its own before then. J.C. Penney said it will notify the exchange in the next 10 business days of the plan.

Shares of the department store chain have plunged more than 70% over the past year, and it reported a first-quarter financial loss of $154 million. The company is now valued at around $220 million.

J.C. Penney is also burdened with roughly $4 billion in debt, with $1.5 billion currently available under a revolving credit line, according to SEC filings. The company told CNBC that it has not hired advisors to prepare for restructuring or bankruptcy, after a Reuters report that said otherwise.

Department stores across the board are struggling to make up for declining sales and foot traffic in malls. On Tuesday, luxury department store Barneys New York filed for bankruptcy, and has until Oct. 24 to find a buyer to avoid liquidation.


Company: cnbc, Activity: cnbc, Date: 2019-08-08  Authors: jasmine wu
Keywords: news, cnbc, companies, exchange, nyse, store, york, stock, department, penney, chain, company, days, faces, jc, delisting


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Trump accuses China of ‘currency manipulation’ as yuan drops to lowest level in more than a decade

President Donald Trump accused China on Monday of manipulating its currency as the trade war between the world’s largest economies keeps escalating. “China dropped the price of their currency to an almost a historic low,” Trump said in a tweet. China — which has historically controlled its currency — allowed the yuan to fall to its lowest level in more than a decade. Trump’s comments on Monday came less than three months after his administration decided not to label China a currency manipulator.


President Donald Trump accused China on Monday of manipulating its currency as the trade war between the world’s largest economies keeps escalating. “China dropped the price of their currency to an almost a historic low,” Trump said in a tweet. China — which has historically controlled its currency — allowed the yuan to fall to its lowest level in more than a decade. Trump’s comments on Monday came less than three months after his administration decided not to label China a currency manipulator.
Trump accuses China of ‘currency manipulation’ as yuan drops to lowest level in more than a decade Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-05  Authors: fred imbert
Keywords: news, cnbc, companies, exchange, manipulation, decade, drops, competitive, china, level, currency, rate, manipulator, administration, trump, yuan, accuses, trade, lowest


Trump accuses China of 'currency manipulation' as yuan drops to lowest level in more than a decade

President Donald Trump accused China on Monday of manipulating its currency as the trade war between the world’s largest economies keeps escalating.

“China dropped the price of their currency to an almost a historic low,” Trump said in a tweet. “It’s called ‘currency manipulation.’ Are you listening Federal Reserve? This is a major violation which will greatly weaken China over time!”

China — which has historically controlled its currency — allowed the yuan to fall to its lowest level in more than a decade. The yuan traded above 7 per U.S. dollar, making Chinese products cheaper.

The People’s Bank of China denied devaluing the yuan as a counter to U.S. tariffs. In a statement, PBOC Governor Yi Gang said China will “not engage in competitive devaluation, and not use the exchange rate for competitive purposes and not use the exchange rate as a tool to deal with external disturbances such as trade disputes.”

Trump’s comments on Monday came less than three months after his administration decided not to label China a currency manipulator. No country has been named a manipulator since the Clinton administration did so for China in 1994.

Though Trump vowed to brand China a manipulator during his campaign, his administration has passed on five opportunities to do so.


Company: cnbc, Activity: cnbc, Date: 2019-08-05  Authors: fred imbert
Keywords: news, cnbc, companies, exchange, manipulation, decade, drops, competitive, china, level, currency, rate, manipulator, administration, trump, yuan, accuses, trade, lowest


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London Stock Exchange agrees to buy Refinitiv in $27 billion deal

Intel says 5G networks will be a focus after Apple buys modem…Intel CEO Bob Swan explained the rationale behind the sale of the company’s modem business to Apple for $1 billion and said the chipmaker still has a big role to play in 5G…Technologyread more


Intel says 5G networks will be a focus after Apple buys modem…Intel CEO Bob Swan explained the rationale behind the sale of the company’s modem business to Apple for $1 billion and said the chipmaker still has a big role to play in 5G…Technologyread more
London Stock Exchange agrees to buy Refinitiv in $27 billion deal Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-01
Keywords: news, cnbc, companies, agrees, billion, buy, intel, exchange, refinitiv, swan, stock, role, rationale, sale, 27, london, modem, modemintel, networks, apple, play, deal


London Stock Exchange agrees to buy Refinitiv in $27 billion deal

Intel says 5G networks will be a focus after Apple buys modem…

Intel CEO Bob Swan explained the rationale behind the sale of the company’s modem business to Apple for $1 billion and said the chipmaker still has a big role to play in 5G…

Technology

read more


Company: cnbc, Activity: cnbc, Date: 2019-08-01
Keywords: news, cnbc, companies, agrees, billion, buy, intel, exchange, refinitiv, swan, stock, role, rationale, sale, 27, london, modem, modemintel, networks, apple, play, deal


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