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News: Putin says Russia must diversify currencies it uses in international trade

VLADIVOSTOK, Russia (Reuters) - Russian President Vladimir Putin said on Wednesday that Moscow needed to diversify the foreign currencies it used in international trade and not solely rely on the U.S. dollar for such transactions.

 
 
Russian President Vladimir Putin speaks during a session of the Eastern Economic Forum in Vladivostok, Russia September 12, 2018. Sergei Bobylyov/TASS Host Photo Agency/Pool via REUTERS

The Russian central bank has been increasing the share of gold and Chinese yuan in its coffers amid risks of more U.S. sanctions that could target Russia’s ability to trade globally.

Posted: 2018-09-12
 

News: Sterling down on report of potential leadership challenge to May

LONDON (Reuters) - Sterling fell on Wednesday after reports of a potential leadership challenge to Prime Minister Theresa May and as realism set in about how far there remains to go before Britain can agree a Brexit trade deal.

 
 
UK pound coins plunge into water in this illustration picture, October 26, 2017. Picture taken October 26, 2017. REUTERS/Dado Ruvic/Illustration

The pound fell a quarter of a percent to as low as $1.2994 against the dollar after the BBC reported a group of about 50 lawmakers in May’s government had met to discuss how and when they could force her out of her job.

These lawmakers have condemned May’s plans for Britain to remain in a free trade zone for goods with the EU after it leaves the bloc in March, 2019.

 

The pound later recovered to trade flat at $1.3028, while against the euro the British currency was largely unmoved, at 89.010 pence per euro.

Posted: 2018-09-12
 

News: Oil and mining strength helps European stocks shrug off trade rhetoric

The pan-European STOXX 600 and eurozone STOXX .STOXXE were both up 0.2 percent by 0726 GMT, despite sharp falls in Asian stocks after U.S. President Donald Trump said the United States is taking a “tough stance” with China on trade.

 

Oil stocks .SXEP rose 1.2 percent after crude prices climbed thanks to falling U.S. crude inventories, while miners .SXPP climbed 1 percent.

Individual stocks posted big moves triggered by results and M&A speculation.

Dutch biotech firm Galapagos (GLPG.AS) soared 16.2 percent to the top of the STOXX after positive trial results for its filgotinib drug to treat rheumatoid arthritis.

Posted: 2018-09-12
 

News: Earnings fall for first time in three years

Official figures show wages fell in real terms by 0.4% in the year to April 2017.

Posted: 2017-10-31 More...
 

News: A neat solution to a thorny trade dispute

A deal which sees Airbus take a majority stake in Bombardier's C-Series plane achieves a number of objectives. 

Posted: 2017-10-20 More...
 

News: European Stocks Called Lower as North Korea Missile Test Rattles Rally

North Korea's latest missile test over Japan has shaken, but not stirred, global equity markets. 

Posted: 2017-09-15 More...
 

News: 15 Mind-Blowing Stats About Financial Services Marketing

Regulation, inhibitive technology, and rigid organizational structure are the biggest hurdles financial services and insurance (FSI) marketers face today...

Posted: 2017-08-23 More...
 
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