US group urges China to open insurance, securities markets BEIJING- An American business group urged China on Friday to allow more access to its insurance and other service industries, saying foreign skills could help develop its volatile stock markets and cope with disasters like the recent chemical explosion in Tianjin. Opening largely closed banking, logistics and other markets wider to foreign competitors...
Source: The Associated Press
China's yuan up sharply on c.bank intervention but derivatives stabilise SHANGHAI, Aug 28- China's yuan rose sharply against the dollar on Friday, with traders citing large transactions by state-owned banks on behalf of the central bank to support the currency. "There were clear signs that the central bank was continuing intervening in spot trading to support the yuan," said a dealer at a major European bank in Shanghai.
| By: Lu Jianxin and Pete Sweeney
DIARY- Top Economic Events to Sept 10 EDINBURGH, Scotland- Bank of England's Executive Director of Prudential Policy David Rule at the Credit Scoring and Credit Control XIV Conference, University of Edinburgh. REYKJAVIK- Launch of Economic Survey of Iceland 2015. NEW YORK- Federal Reserve Bank of Boston President Eric Rosengren speaks on the economic outlook before the Forecasters Club of New...
Rally in hand, traders eye data As stocks attempt to hold the bounce, the Street will get another look at some of the factors the Federal Reserve is eyeing in timing a rate hike.
| By: Evelyn Cheng
No quick ruling in Caesars bondholder case, possible trial looms NEW YORK, Aug 27- Caesars Entertainment Corp on Thursday moved a step closer toward a possible trial with bondholders, as a Manhattan federal judge refused to hold the gaming company liable to help repay $7 billion of debt owed by its main operating unit. District Judge Shira Scheindlin rejected requests by bond trustees BOKF NA and UMB Bank NA that Caesars be...
Facebook's Instagram adds new photo sizes to keep users, attract ads SAN FRANCISCO, Aug 27- Instagram has added new layout options in addition to its signature square for pictures and videos in a bid to attract more advertisers and to stop users defecting to more flexible services such as Snapchat. The move is the first major alteration to the photo-sharing, social media service since Facebook Inc bought it for $1 billion in 2012,...
| By: Yasmeen Abutaleb