CNH beats 4Q profit forecasts BASILDON ESSEX, Britain _ CNH Industrial NV on Friday reported fourth-quarter earnings of $231 million. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 15 cents per share. Three analysts surveyed by Zacks expected $7.2 billion.
Source: The Associated Press
China's yuan firms on midpoint, Beijing vows to keep yuan stable SHANGHAI, Jan 29- China's yuan edged up against the dollar on Friday and is set for a mild weekly gain after the central bank fixed its daily midpoints stronger over the past week. Beijing has also taken further steps to control the country's capital outflows to support the Chinese currency. The People's Bank of China set the midpoint rate at 6.5516 per dollar...
China's yuan firms on stronger midpoint setting SHANGHAI, Jan 27- China's yuan edged up against the dollar on Wednesday after the central bank set a firmer midpoint and state media warned billionaire investor George Soros against betting on falls in the Chinese currency and Hong Kong dollar. The People's Bank of China set the midpoint rate at 6.5533 per dollar prior to market open, 0.02 percent firmer than the...
China stocks open lower as global rout deepens; HK rebounds SHANGHAI, Jan 21- China stocks opened lower on Thursday, as the rout in global markets accelerates amid global economic growth and commodity price fears. "Recently, buying in late afternoon trading session hints at the' national team' at work, while the PBOC is determined to squeeze the CNH shorts," Hong Hao, managing director of research at BOCOM International wrote...
'China's undertaking temporary capital controls' The PBOC will only devalue the yuan if capital controls being exercised in the CNH market are unsuccessful, explains Mirza Baig, Asia head of foreign exchange & and interest rate strategy at BNP Paribas,
UPDATE 2-China to start implementing RRR for offshore banks' domestic deposits *China battling to stem speculation of further yuan weakness. BEIJING, Jan 18- China's central bank said on Monday it will start implementing a reserve requirement ratio on offshore banks' domestic deposits, in what appears to be its latest attempt to stem speculation in the yuan and manage money flowing in and out of the country. Confusion over China's foreign...
UPDATE 1-China to raise offshore yuan reserve requirements for some banks-sources SHANGHAI/ BEIJING, Jan 17- China's central bank is preparing to raise the reserve requirement ratio for yuan deposits placed in yuan clearing banks from Jan. 25 in its latest bid to stem speculation in the currency, according to three sources who have seen the document outlining the change. The People's Bank of China, which had established the reserve requirement...
China's currency market turmoil: What you need to know China's market turmoil since the start of the new year has put the spotlight on a not-much-noticed quirk of trading the mainland's currency: the offshore yuan doesn't always want to stay in tune with its onshore peer.
| By: Leslie Shaffer