China stabilizes currency but tensions with US remain high
Promises “not to use exchange rates for competitive purposes.”
China promises not to weaken yuan, criticizes US concern
Tightly controlled yuan has lost almost 10 per cent of its value against the US dollar this year.
Feds study pros and cons of the nickel coin
…But no plans to send it the way of the penny.
Trump blasts China for trade, currency actions
He’ll renegotiate trade deals such as China’s WTO accession agreement.
China to make currency freely traded by 2020
Other countries want Beijing to ease controls that gave Chinese exporters an unfair price advantage.
US lawmakers criticize China’s sudden falling yuan
But Beijing says it’s aimed at making the tightly controlled currency more market-oriented.
Simon Fraser University embraces Bitcoin
Will accept virtual currency for textbooks.
Cenovus Energy posts $668M Q1 loss
Takes hit from currency loss, lower oil and gas price.
US heat is on China’s “under-valued” currency
Obama’s pro trade allies battle claim China boosts exports by keeping it artificially low.
Canada’s renminbi trading hub to launch in March
Virtual hub will allow faster, more-secure currency conversion and help Canadian companies save on exchange costs.
4% of business owners say lower loonie is no big deal: BMO
Only 27% cite a benefit from a weaker dollar, 18% are worse off.
Weaker loonie hurts more than it helps: Fraser Institute
Commentary says it triggers higher domestic prices, plus higher importing and financing costs.
Com Dev says stronger US dollar helped revenue
New satellite orders during Q1 totalled $36.6 million.
EU inflation dips further, boosting pressure on ECB policymakers
The ECB is tasked with setting monetary policy to keep inflation just below 2%, but inflation across the 17 EU countries fell to 0.8% in December.
Canada’s mid-sized firms in decline: BDC
Manufacturing sector worst hit, losing half its firms between 2006 and 2010.