Chinese Media Downplays Yuan Drop After U.S. Manipulator Charge

In this article Chinese state media stuck to the government’s line on the yuan’s weakening, saying the move was normal while stressing the economic benefit of some flexibility in the currency. The yuan falling beyond 7 a dollar is a “market-driven result” that shows the exchange rate is more flexible than before, according to a Monday report by Xinhua News […]

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Exclusive: Deutsche Bank's problem derivatives cloud recovery – sources

NEW YORK (Reuters) – Deutsche Bank AG’s (DBKGn.DE) turnaround strategy rests in large part on shedding 288 billion euros of unwanted assets. Three bank insiders said it will take years, tying up capital that could have generated income of 500 million euros ($557 million) a year. The opportunity cost of unloading the assets, which has not been previously reported, underscores […]

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JPMorgan's Jamie Dimon: Economy ‘not that bad’ as bank preps for 3 rate cuts in 2019

JPMorgan 2Q earnings top estimates CFRA Director of Equity Research Ken Leon and FBN’s Lauren Simonetti on JPMorgan Chase’s second-quarter results and outlook. JPMorgan Chase CEO Jamie Dimon expects continued global economic growth despite intensifying geopolitical and trade tensions, as the nation’s top bank prepares itself for several interest rate cuts in 2019 that could undermine profits. Continue Reading Below […]

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Exclusive: U.S. firms may get nod to restart Huawei sales in 2-4 weeks – official

WASHINGTON (Reuters) – The U.S. may approve licenses for companies to re-start new sales to Huawei in as little as two weeks, according to a senior U.S. official, in a sign President Donald Trump’s recent effort to ease restrictions on the Chinese company could move forward quickly. Huawei, the world’s largest telecommunications equipment maker, was added to a Commerce Department […]

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Korn Ferry CEO talks slowing economy, new partnership with PGA Tour

PGA Tour announces Korn Ferry as umbrella sponsor Korn Ferry CEO Gary Burnison discusses with FOX Business’ Gerri Willis about the newly announced partnership with the PGA Tour and its U.S. player developmental tour, formerly called Web.com Tour. On a day the Federal Reserve delivered its decision on interest rates, Korn Ferry CEO Gary Burnison told FOX Business that a weakening […]

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PG&E completes safety inspection of distribution infrastructure

(Reuters) – Electric utility PG&E Corp said on Wednesday it has completed visual inspections of about 99% of its distribution infrastructure to provide additional precautionary measures intended to reduce wildfire risk. PG&E said it has provided the results of the inspections to California Public Utilities Commission and will make the status of the repairs publicly available on its website on […]

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