*Dollar back above 120.00 yen, dollar index hits near 9- year high. *Trading seen light in Asia with Japan closed for holiday. The euro wallowed near a two-year low of $1.2221, while the Canadian dollar eased to C $1.1634 per USD, back near a 5-1/ 2 year trough of C $1.1674 set last week.» Read More
See if you could your own at the meeting of economic, business and political leaders.
J.C. Penney plans to give board seats to the hedge fund Pershing Square Capital Management and Vornado Realty Trust, months after the two investors purchased big stakes in the retailer, people with direct knowledge of the matter told DealBook on Sunday, the New York Times reports.
A number of people, myself included, have looked to Ronald Reagan’s Cold War triumph over the Soviet Union as a possible solution to Red China’s rising arrogance. Times are different today. But Reagan argued forcefully that domestic economic growth is the best weapon against foreign threats.
Despite the public relations reality of the China-US trade deals, the $45 billion is real money, and some high-profile companies are now a lot better positioned in China than they were a week ago.
German gross domestic product will likely rise 3 percent in 2011, according to economists at Capital Economics. But their pick for next-strongest euro-zone economy tends to fly under the radar.
The Chinese need to “do a lot to ease restrictions on trade and investing,” Mudhar Kent, CEO of Coca-Cola, told CNBC Wednesday.
Despite criticism that it grows by keeping its currency weak to boost exports, China is actually increasing its domestic consumption very fast, Jim O'Neill, Goldman Sachs Asset Management chairman, told CNBC.
Today, China, Canada and the US all released their monthly trade data and there were some surprises.
Friday, analysts expect the Commerce Department to report the deficit on international trade in goods and services was $44.0 billion in October or 3.6 percent of GDP. The trade deficit and crippled regional banks starve U.S. businesses of the customers and capital needed to create jobs and fire up growth.
On Friday, the Obama administration announced that it had reached a free trade deal with the South Korean government in Seoul. Trade organizations for both the automakers and meat growers chimed in with support for the pact. But Senator Max Baucus, the Montana Democrat, has said he is "deeply disappointed" with the agreement. It's not clear whether Baucus will attempt to block the treaty from being approved in the Senate.
Bruce Rockowitz, president of Li & Fung, the world's largest supplier of goods to U.S. retailers like Wal-Mart, shares his thoughts on the lessons learned during the Asian Financial Crisis and why China should not be feared.
Chinese policy makers are striving to curb inflation, but their approach carries risks. For one thing, their plan flies in the face of steps the U.S. has been urging. The NYT reports.
American businesses that import Chinese goods face higher prices, but exporters are predicting sales growth. The NYT reports.
When the G-20 summit ended, attention focused on American global weakness rather than American global power, with no free trade agreement and intense criticism of recent action by the Federal Reserve,
After a thorough drubbing in the midterm elections, President Obama turned his attention to the G20 meeting in South Korea where the United States has always held sway.
In 2007, Shankar’s Emporium, a Singaporean wholesaler that has exported consumer electronics to Africa for 30 years, decided the time was ripe to set up its own shop in Angola. The project stretched over a year thanks to the slow pace of business there. But it was worth the effort, said Dinesh Bhojwani, Shankar’s business development manager.
The Federal Reserve's plan to buy more Treasury bonds has incited critics at home to complain of inevitable high inflation and financial turmoil.
When the Federal Reserve announced last week that it would buy $600 billion in Treasury bonds to help bolster the economy, it quickly came under attack from Germany, Brazil and China. But the Fed’s plans earned a hearty endorsement from at least one foreign trade partner — India. The NYT reports.
A group of senators led by Carl Levin, the Democrat from Michigan, is pushing a new financial oversight council to adopt a strict ban on proprietary trading at banks. The FT reports.
All signs point toward a long-term struggle for most states, as they continue to beat back the effects of the recession. 2011 will bring new challenges, as federal stimulus funds run dry, tax revenues decline, and jobless rates remain high.