News Monitoring

Why China’s Yuan Won’t Take Off 11/16/2018, 8:19:05 PM A weakening economy—and the trade war with Washington, higher U.S. interest rates, and free spending by Chinese students and tourists abroad—are pressuring the currency. ✔ Most of China’s financial sector remains in state hands, while private citizens are limited to $50,000 in foreign currency ✔ Instead, Beijing is deploying supply-side tax cuts for individuals, and probably next year for corporations, and juicing credit by easing banks’ reserve requirements ✔ They don’t want investors to form a single-direction expectation, which leads to herd behavior, Pictet’s Chen says Dow Gains 124 Points as Market Sends Mixed Messages 11/16/2018, 11:14:52 PM While the S&P 500 rose, the Nasdaq fell, and investors are still struggling to figure out what’s next for the Fed and the trade war. ✔ According to a machine-learning model from Bank of America Merrill Lynch based on numerous fundamental indicators, today’s economy is mo

Saudi crown prince's 'fit' delays UN resolution on war in Yemen 11/17/2018, 12:54:33 AM Multiple sources tell CNN that a much-anticipated United Nations Security Council resolution calling for a cessation of hostilities in Yemen and for Saudi Arabia to allow humanitarian aid to reach millions of starving people was "stalled" this week after the resolution's sponsor, British Foreign Secretary Jeremy Hunt, met face-to-face with Saudi Crown Prince Mohammed bin Salman. ✔ Its executive director, David Beasley, who just returned from Yemen, told reporters he touched babies who felt like ghosts due to starvation ✔ The UK's willingness to make changes to the resolution to ease Saudi concerns drew sharp criticism from human rights advocates ✔ CNN's Nicole Gaouette, Richard Roth, Michael Conte and Kristina Sgueglia contributed to this report U.N. committee condemns rights violations against Rohingya 11/17/2018, 3:57:12 AM UNITED NATIONS-- A key U.N.