China official plays down yuan shift

BEIJING (Reuters) - Chinese Vice Commerce Minister Chen Jian on Sunday played down talk of a shift in the central bank's currency policy as well as mounting expectations of a rise in the yuan's exchange rate. Speculation that China might let the yuan resume its climb after a 16-month pause swirled after a change last Wednesday in the long-standing...

No double-dip US recession

The pace of the recovery in the US economy remains sluggish but Mr Strauss-Kahn does not believe there will be a double-dip recession. -- PHOTO: AFPTHE International Monetary Fund's managing director, Dominique Strauss-Kahn, said on Friday the pace of the recovery in the US economy remains sluggish but he does not believe there will be a...

Obama under fire on trade as Asia-Pacific leaders meet

US President Barack Obama, left, shakes hands with Singapore's Prime Minister Lee Hsien Loong before the gala dinner for APEC leaders in Singapore. Photo: APUS President Barack Obama has come under fire from Asia-Pacific leaders for backsliding on free trade at a regional summit devoted to driving the world economy out of crisis."President...

China bank regulator: US dollar's decline adding risk

Liu Mingkang, chairman of the China Banking Regulatory Commission(AFP) – BEIJING — China's chief banking regulator warned Sunday that persistently low US interest rates and a declining dollar were seriously affecting asset prices and threatening the global economic recovery.China Banking Regulatory Commission Chairman Liu Mingkang told a...

Broadcast pioneer NBC prepares for cable takeover

By DAVID BAUDER (AP)FILE - In this Oct. 11, 1976 file photo, NBC's "Today" show host Tom Brokaw and newswoman Jane Pauley share a moment prior to Pauley's first appearance on the network morning news program. Eight decades after pioneering the concept of broadcasting, NBC is on the verge of a startling move that illustrates broadcast television's...