Archive for November, 2015

IMF approves China's yuan as elite reserve currency

November 30th, 2015

IMF approves China's yuan as elite reserve currency

The yuan, also known as the renminbi, will join the US dollar, euro, Japanese yen and British pound in the basket of currencies the IMF uses as an international reserve assetThe International Monetary Fund welcomed China's yuan into its elite reserve currency basket on Monday, recognizing the ascendance of the Asian power in the global economy. The yuan, also known as the renminbi, will join the US dollar, euro, Japanese yen and British pound next year in the basket of currencies the IMF uses as an international reserve asset. The decision by the IMF executive board solidifies China's ambition to see the government-controlled yuan achieve global status as one of the world's top currencies alongside the United States, Europe and Japan.

Source
Economy News Headlines – Yahoo! News

Dollar hits highest since March, world stocks mixed

November 30th, 2015

Dollar hits highest since March, world stocks mixed

Photo illustration of U.S. dollar notes displayed in JohannesburgBy Sinead Carew NEW YORK (Reuters) – The dollar hit an eight-and-a-half-month high against major currencies Monday as the prospect of further European Central Bank stimulus dragged the euro down to its weakest since mid-April, while oil prices retreated. Global stock markets were mixed, with Wall Street falling ahead of a crucial payroll report Friday, while European shares rose. The jobs report is arguably the most important U.S. economic indicator due out before the Federal Reserve decides on Dec. 16 whether or not to raise interest rates for the first time in nearly a decade.

Source
Economy News Headlines – Yahoo! News

Brazil's BTG Pactual looks to new leadership; Esteves quits amid graft probe

November 30th, 2015

Brazil's BTG Pactual looks to new leadership; Esteves quits amid graft probe
SAO PAULO (Reuters) – Brazil’s Grupo BTG Pactual SA looked to new leadership to steer it out of crisis on Monday after controlling shareholder André Esteves resigned as CEO and chairman following his…


Source
Reuters: Money

Wall Street dips slightly with retailers, healthcare; energy up

November 30th, 2015

Wall Street dips slightly with retailers, healthcare; energy up

Traders work on the floor of the New York Stock ExchangeWhile the U.S. central bank is widely expected to raise interest rates in December for the first time since 2006, the European Central Bank is expected to unveil fresh monetary easing measures on Thursday.

Source
Stock Markets News Headlines – Yahoo! News

U.S. retail stocks drop after Black Friday disappoints Wall Street

November 30th, 2015

U.S. retail stocks drop after Black Friday disappoints Wall Street
Shares of beleaguered retailers dropped on Monday after holiday shopping at brick-and-mortar stores got off to a lackluster start on Thanksgiving and Black Friday. Department stores whose share prices had already declined recently, due to low expectations going into the last two months of 2015, fell further. Shares of Macy’s Inc were down 2.7 percent at $38.90 on Monday afternoon.
Source
Stock Markets News Headlines – Yahoo! News

A former Wall Street rainmaker says running a bank is a ‘breeze’ compared with a startup

November 30th, 2015

A former Wall Street rainmaker says running a bank is a ‘breeze’ compared with a startup

A former Wall Street rainmaker says running a bank is a ‘breeze’ compared with a startupBloomberg TV screenshot Compared to running a startup, … Continued The post A former Wall Street rainmaker says running a bank is a ‘breeze’ compared with a startup appeared first on Business Insider.

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Stock Markets News Headlines – Yahoo! News

UPDATE 2-South Africa's central bank: weaker rand a major inflation risk

November 30th, 2015

UPDATE 2-South Africa's central bank: weaker rand a major inflation risk
* Central bank to keep inflation between 3-6 pct (Adds governor’s quotes on rand, Fed rate hike, details)


Source
Reuters: US Dollar Report

UPDATE 2-IMF gives China's currency prized reserve asset status

November 30th, 2015

UPDATE 2-IMF gives China's currency prized reserve asset status
WASHINGTON, Nov 30 (Reuters) – The International Monetary Fund on Monday, as expected, admitted China’s yuan into its benchmark currency basket in a victory for Beijing’s campaign for recognition as…


Source
Reuters: US Dollar Report

Britain says welcomes Chinese yuan into IMF currency basket

November 30th, 2015

Britain says welcomes Chinese yuan into IMF currency basket
LONDON, Nov 30 (Reuters) – Britain’s finance ministry said on Monday it welcomed the admission of China’s yuan into the International Monetary Fund’s benchmark currency basket.


Source
Reuters: US Dollar Report

IMF approves China's yuan for benchmark currency basket

November 30th, 2015

IMF approves China's yuan for benchmark currency basket
WASHINGTON, Nov 30 (Reuters) – The International Monetary Fund on Monday admitted China’s yuan into its benchmark currency basket in a win for Beijing’s campaign for recognition as a global economic…


Source
Reuters: US Dollar Report