Tag: Yahoo Finance

Currency Roadblock Seen by Top Asia Forecaster as Tariffs Loom

(Bloomberg) -- The mini trade deal reached between China and the U.S. earlier this month won’t be enough to sustain the rebound in Asian currencies from a 10-year low, according to the region’s top forecaster.“The tariffs are a big hindrance,” said Frances Cheung, the Singapore-based head of Asian macro strategy at Westpac Banking Corp., which has topped Bloomberg’s ranking for Asia ex-Japan currencies for four straight quarters. “The China stance has always been that some tariffs have to be done away in order for them to sign a deal. But Trump is using these tariffs as a bargaining chip.”The world’s two biggest economies agreed, in principle, the first part of a larger trade deal. The initial deal is expected to be signed in mid-November at an Asia-Pacific Economic Cooperation summit in Chile. That’s helped a gauge of Asia ex-Japan currencies advance almost 2% after falling to a 10-year low in early...

UPDATE 3-Gulfstream unveils new flagship G700 business jet in challenge to rival Bombardier

U.S. planemaker Gulfstream on Monday unveiled its widely-expected G700 long-range jet, in a challenge to Bombardier Inc's flagship Global 7500 aircraft. Gulfstream Aerospace, a unit of General Dynamics Corp , said the new plane would be powered by Rolls-Royce Holdings PLC Pearl 700 engines and anticipates customer deliveries in 2022. The announcement came on the eve of the National Business Aviation Association's (NBAA) annual corporate aircraft show in Las Vegas, the biggest business jet show in the world....

China’s Central Bank Boosts Liquidity Ahead of Tax Payment Surge

(Bloomberg) -- China’s central bank used open-market operations to inject the largest amount of cash into the banking system since May, as upcoming corporate tax payments tighten liquidity conditions.The People’s Bank of China on Tuesday net injected 250 billion yuan ($35 billion) via seven-day reverse repurchase agreements, according to a statement. There were no facilities coming due Tuesday, and the central bank kept the rate steady at 2.55%. China’s 10-year bond yield was little changed at 3.22%.The central bank is acting to fine-tune interbank liquidity conditions while it keeps broader monetary-policy settings stable, seeking to keep credit growth appropriate while avoiding rapid debt build-up as the economy slows. The move comes before an Oct. 24 deadline for companies to pay tax, which typically increases the demand for cash and tightens liquidity.The PBOC injected a net 490 billion yuan in the four days through Oct. 25 last year, and acted last week...