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Once chic, the euro now fashion victim
Two years ago, Billy’s Antiques & Props on East Houston Street in Manhattan caused an international media stir when the proprietor hung a handmade sign that read: “Euros Only.” For Billy Leroy, owner of the street-side shop that...
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Obama praises China’s move to allow its currency to float
Washington President Barack Obama welcomed Saturday’s news that China’s central bank will allow its national currency to float ahead of the G-20 summit in Toronto, Canada, next week. In a statement issued Saturday, Obama praised China’s decision to...
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Stretching the market rally
A two-week advance looks to continue this week, as investors consider the latest on the global economy — but the early summer correction may not be over. After slumping almost 14% in six weeks, stocks, as measured by...
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China ’steals U.S. thunder’ ahead of G20
China’s announcement that it will introduce more flexibility into its exchange rate is a deft political move amid rising international criticism of Beijing, but the economic implications are much less certain. Although Chinese officials insisted on Sunday...
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BP: We’ll pay the bill for now
BP will continue to pay the costs for the oil spill cleanup and will work out with its drilling partners later who is liable for the costs, a executive for the oil giant told a Senate subcommittee Wednesday. “BP...
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EU edges towards disclosing bank ’stress tests’
France on Thursday joined calls for the release of “stress test results” on the solidity of Europe’s banks, urging a coordinated European approach to the publication of findings “the sooner the better”. Christine Lagarde, French finance minister, said...
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EU leaders agree tougher budget scrutiny
European leaders agreed on Thursday to strengthen the eurozone’s economic governance by tightening surveillance of national budgets, paying more attention to debt levels and developing a scoreboard for assessing business competitiveness. According to a draft summit communiqué,...
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Mobile phones used to get past China’s Internet censors
Beijing, China — The mobile web in China has loopholes where content could go under the radar of government censors, analysts say. “It could be anything else the government normally frowns upon or does not consider healthy,...
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NEW YORK — U.S. stocks recovered from deep losses Wednesday and finished a choppy session near the previous day’s closing levels as investors considered mixed economic news and BP’s agreement to establish a $20 billion escrow fund...
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China export surge stirs U.S. anger
A surge in Chinese exports and rising anger in the US Congress will put renewed pressure on China to allow its currency to rise against the US dollar. Chinese trade figures showed exports leaping by 48.5 per cent...
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