Finance news

• Arch Coal asks U.S. bankruptcy court to ease its cleanup costs

  11-01-2016 23:31
  
  WASHINGTON, Jan 11 (Reuters) - Arch Coal Inc, the
  second-largest U.S. coal producer, on Monday asked a bankruptcy
  judge to put aside $75 million to backstop future clean-up costs
  - far less than the...
  
  Read more

• Dow, S&P 500 end up in late turnaround; Alcoa dips after hours

  11-01-2016 23:23 via news.yahoo.com
  
  The Dow and S&P 500 ended a volatile session up slightly on Monday in a late turnaround, but a drop in biotechs and energy shares kept a lid on the market. The Nasdaq ended lower, led by a drop in biotech company Celgene , which fell 5.5 percent to $103.03 following a disappointing profit forecast. The Nasdaq Biotech index fell 3.4 percent in its eighth straight down day.
  
  Read more

• Iran fills heavy water nuclear reactor core with cement: Fars

  11-01-2016 23:20 via news.yahoo.com
  
  Iran has removed the core of its Arak heavy water nuclear reactor and filled it with cement as required under a nuclear deal signed with world powers last year, the semi-official Fars news agency said on Monday, citing an informed Iranian source. Any such move, reducing the plant's ability to produce plutonium, might signal imminent implementation of the nuclear deal and clear the way for Tehran to receive relief from economic sanctions. Separately, the European Union's foreign policy chief said
  
  Read more

• Global - Wall Street steadies as oil plunges, China woes deepen

  11-01-2016 23:09 via news.yahoo.com
  
  By Lewis Krauskopf NEW YORK (Reuters) - Wall Street rallied to finish slightly higher on Monday, steadying after a brutal start to 2016, while beaten-down oil prices plunged further after a fresh tumble for Chinese stocks. China's main stock indexes each dropped more than 5 percent on Monday. Oil prices fell to new 12-year lows, as concerns over China hurt commodity prices broadly.
  
  Read more

• Advertisement

• Wall Street steadies as oil plunges, China woes deepen

  11-01-2016 23:03 via news.yahoo.com
  
  By Lewis Krauskopf NEW YORK (Reuters) - Wall Street rallied to finish slightly higher on Monday, steadying after a brutal start to 2016, while beaten-down oil prices plunged further after a fresh tumble for Chinese stocks. China's main stock indexes each dropped more than 5 percent on Monday. Oil prices fell to new 12-year lows, as concerns over China hurt commodity prices broadly.
  
  Read more

• Spain's Princess Cristina stands trial on tax fraud charges

  11-01-2016 22:43 via news.yahoo.com
  
  By Sonya Dowsett PALMA DE MALLORCA, Spain (Reuters) - Spain's Princess Cristina appeared in court on Monday on charges of tax fraud, the first member of the royal family to stand in the dock, as a lengthy investigation into her husband's business affairs finally went to trial. King Felipe's 50-year-old sister is one of 18 people on trial after a six-year investigation into the Noos Foundation, a charity run by her husband Inaki Urdangarin, that prosecutors say was used to embezzle millions of eu
  
  Read more

• TSX falls as energy, mining stocks weigh

  11-01-2016 22:41 via news.yahoo.com
  
  By Alastair Sharp TORONTO (Reuters) - Canada's main stock index fell 1 percent on Monday, its ninth straight decline, as energy stocks slumped on the back of another plunge for crude oil, pushing the index deeper into bear market territory. Oil prices fell 6 percent to new 12-year lows after a further decline in China's blue chip stocks and a surge in overnight interest rates for the yuan heightened fears about the outlook for demand in the world's second-largest economy. Allan Small, a senior i
  
  Read more

• Wall Street ends little changed after volatile session

  11-01-2016 22:31 via news.yahoo.com
  
  NEW YORK (Reuters) - The Dow and S&P 500 ended a volatile session slightly higher on Monday, recovering from recent sharp selling, but a drop in biotechs and energy shares weighed on the market along with caution ahead of earnings season. The Dow Jones industrial average rose 51.78 points, or 0.32 percent, to 16,398.23, the S&P 500 gained 1.56 points, or 0.08 percent, to 1,923.59 and the Nasdaq Composite dropped 5.64 points, or 0.12 percent, to 4,637.99. (Reporting by Chuck Mikolajczak;
  
  Read more

• Advertisement

• Euro, yen slide as market sentiment improves; dollar rises

  11-01-2016 21:52 via news.yahoo.com
  
  By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) - The low-yielding euro fell for a second session against the dollar on Monday, while the yen slipped for the first time in six days, as steadier global stock markets prompted investors to seek other currencies that provide better returns. Wall Street shares were volatile all day but recovered some of their losses after a poor start to the new year, diminishing the appeal of the euro and yen. Europe's common currency has been used in recent carry tr
  
  Read more

• Wall Street continues recent decline as biotechs, oil drop

  11-01-2016 21:32 via news.yahoo.com
  
  U.S. stocks extended their recent slide on Monday with declines in biotechs and energy shares, while caution ahead of earnings season also weighed on the market. The S&P energy sector dropped 2.8 percent following another sharp drop in oil prices. Last week, stocks had their worst five-day start to a year ever following mounting investor concerns about declining oil prices and a China-led slowdown in global growth.
  
  Read more

• Oil dive deepens to 12-year low; $20 warning on China

  11-01-2016 21:22 via news.yahoo.com
  
  By Catherine Ngai NEW YORK (Reuters) - A brutal new year selloff in oil markets quickened on Monday, with prices plunging 6 percent to new 12-year lows as further ructions in the Chinese stock market threatened to knock crude as low as $20 a barrel. The latest catalyst was a further 5 percent decline in China's blue-chip stocks and a surge in overnight interest rates for the yuan outside of China to nearly 40 percent, their highest since the launch of the offshore market. Morgan Stanley warned t
  
  Read more

• Global - Oil plunges, Wall Street drops, China woes deepen

  11-01-2016 21:14 via news.yahoo.com
  
  By Lewis Krauskopf NEW YORK (Reuters) - Wall Street and European stock markets fell on Monday, worsening a brutal start to 2016, as a plunge in beaten-down oil prices and a fresh tumble for Chinese shares gave investors more reasons to sell. Fears over China's economy contributed to last week's declines, and China's main stock indexes each dropped more than 5 percent on Monday. Oil prices fell to new 12-year lows, as concerns over China hurt commodity prices broadly.
  
  Read more

• Oil plunges, Wall Street drops, China woes deepen

  11-01-2016 21:10 via news.yahoo.com
  
  NEW YORK (Reuters) - Wall Street and European stock markets fell on Monday, worsening a brutal start to 2016, as a plunge in beaten-down oil prices and a fresh tumble for Chinese shares gave investors more reasons to sell.
  
  Read more

• 'Ridiculous' to expect much more yuan depreciation: China official

  11-01-2016 20:49 via news.yahoo.com
  
  A Chinese official said on Monday it was "ridiculous" to expect the country's currency, the yuan, to depreciate substantially more against the dollar. "The economic fundamentals for the RMB exchange did not see a big fluctuation," he said, dismissing concerns that there was a massive capital outflow from China. RMB refers to the renminbi, another word for the yuan.
  
  Read more

• Amazon to launch portable version of Echo speaker - Wall Street Journal

  11-01-2016 20:45 via news.yahoo.com
  
  (Reuters) - Amazon.com Inc expects to release a smaller, portable version of its voice-activated Echo speaker, the Wall Street Journal reported, citing people familiar with the plans. Amazon.com launched "Amazon Echo" in November 2014, a speaker one can leave on all day and give it voice directions, like Siri on an Apple Inc iPhone. Amazon is relying on Flextronics International Ltd to help make the device, the WSJ reported.
  
  Read more

• Clinton to propose four percent income-tax 'surcharge' on wealthy

  11-01-2016 20:44 via news.yahoo.com
  
  By Amanda Becker WASHINGTON (Reuters) - U.S. Democratic presidential candidate Hillary Clinton is calling for a 4 percent "surcharge" income tax on people earning more than $5 million annually, a Clinton aide said on Monday. Clinton was joined on the campaign trail last month by billionaire investor Warren Buffet, who has been an outspoken critic of tax policies he says allow him to pay a lower tax rate than his secretary. Clinton said she would announce her plans to go even farther than the "Bu
  
  Read more

• Ignoring Warnings, Drug Companies Hike Prices By 10 Percent

  11-01-2016 20:12 via news.yahoo.com
  
  The U.S. pharmaceutical industry just unveiled a new round of hefty price hikes, shrugging off mounting concern among consumers, presidential candidates and public policy experts about the sharp spike in prescription drug costs. Pfizer Inc., Amgen Inc., Allergan PLC and other companies have raised U.S. prices for scores of branded drugs since late December, with many of the increases between 9 percent and 10 percent, according to Wall Street Journal interviews with equity analysts.
  
  Read more

• 'Grand coalition' still uncertain in Spain despite Catalan separatist push

  11-01-2016 20:02 via news.yahoo.com
  
  By Angus Berwick MADRID (Reuters) - Despite the return of a unified Catalan separatist movement, acting Prime Minister Mariano Rajoy's proposed grand coalition of centre-right and centre-left parties to defend against the possible break-up of Spain failed on Monday to gain support. Ahead of the first session of congress on Wednesday, the formation of a government remains at a stalemate following last month's inconclusive election that left the ruling People's Party (PP) with the most seats but w
  
  Read more

• US stocks veer lower following another drop in price of oil

  11-01-2016 19:47 via news.yahoo.com
  
  A slump in crude oil prices and other commodities weighed on stocks in afternoon trading Monday. Energy companies were among the biggest decliners as the price of crude oil sank to the lowest level in more than a decade. Investors also weighed the implications of another drop in China's stock market.
  
  Read more

• Wall Street wobbles as health stocks, oil prices drop

  11-01-2016 19:24 via news.yahoo.com
  
  Wall Street struggled for gains in volatile trading on Monday, weighed down by healthcare stocks and oil prices hitting fresh 12-year lows, ahead of the start of corporate earnings season. The S&P energy sector down 2.23 percent, and materials sector, off 1.6 percent, faced the brunt of a near 6 percent slide in oil prices. The health sector was down 1.38 percent, dragged down by Celgene and McKesson.
  
  Read more

• Amazon to launch portable version of Echo speaker - WSJ

  11-01-2016 19:13 via news.yahoo.com
  
  Amazon.com Inc expects to release a smaller, portable version of its voice-activated Echo speaker, the Wall Street Journal reported, citing people familiar with the plans. Amazon is relying on Flextronics International Ltd to help make the device, the WSJ reported. Amazon.com and Flextronics International were not immediately available for comment.
  
  Read more

• Global risks are chief concern for U.S. economy: Fed's Lockhart

  11-01-2016 18:47 via news.yahoo.com
  
  Global risks including a slowdown in China and continued low oil prices are now the chief risks to what is an otherwise promising outlook for the U.S. economy, Atlanta Federal Reserve Bank President Dennis Lockhart said on Monday. Lockhart told the Rotary Club of Atlanta he remains "mildly optimistic" that strong domestic consumption will help spur GDP growth of as much as 2.5 percent this year, enough to push the economy to full employment and move prices towards the U.S. central bank's 2 perce
  
  Read more

• US stocks stabilize, shaking off another drop in China

  11-01-2016 18:27 via news.yahoo.com
  
  Major U.S. stock indexes were little changed in midday trading Monday as investors weighed the implications of another slump in China's stock market. Energy companies were among the biggest decliners as the price of crude oil fell.
  
  Read more

• Wall Street loses gains as health stocks, oil prices slide

  11-01-2016 18:24 via news.yahoo.com
  
  Wall Street gave up early gains and were lower late on Monday morning, dragged down by health stocks and as crude prices slid further ahead of the start of the corporate earnings season. The S&P materials and energy sectors were both off more than 1 percent, under pressure as oil prices fell for the sixth day in a row. The health sector fell the most, declining 1.38 percent, dragged down by Celgene and McKesson.
  
  Read more

• Iran removes core of Arak heavy water nuclear reactor: Fars

  11-01-2016 18:19 via news.yahoo.com
  
  Iran has removed the core of its Arak heavy water nuclear reactor and filled it with cement, an informed source told the Fars news agency on Monday. The fate of the reactor in central Iran was one of the toughest sticking points in the long nuclear negotiations that led to a agreement in July. Removing the core of the heavy water reactor to produce less plutonium is a crucial step before relief from economic sanctions agreed under the deal can start.
  
  Read more

• Europe, US stocks resist another Asia downturn

  11-01-2016 18:19 via news.yahoo.com
  
  Markets in Europe broadly resisted another heavy tumble across Asia Monday, closing only slightly lower, while US stocks modestly climbed as traders began to focus on the American earnings season rather than Chinese economic woes. After flipping between ups and downs, European bourses closed moderately lower, but still pleasantly surprising analysts as they easily outperformed shares in China, which plunged around five percent, hard on the heels of last week's rout. London's benchmark FTSE 100 i
  
  Read more

• Moscow shares drop over 5 percent, ruble also hit

  11-01-2016 18:14 via news.yahoo.com
  
  Moscow share prices on Monday dropped by more than five percent as Russia's energy-dependent economy reels from low oil prices and fluctuations on the Asian market. The dollar-denominated RTS index had dropped by 5.12 percent at closing, while Russia's battered ruble fell to 76 against the dollar and over 83 against the euro for the first time since the currency slump of December 2014. Russia's economy and the ruble have been battered since 2014 by the slide in oil prices and Western sanctions o
  
  Read more

• Oil tumbles nearly 5 percent to new lows; analysts warn of $20s

  11-01-2016 18:01 via news.yahoo.com
  
  By Catherine Ngai and Amanda Cooper NEW YORK/LONDON (Reuters) - A brutal new year selloff in oil markets deepened on Monday, with prices plunging as much as 5 percent to new 12-year lows as further ructions in the Chinese stock market threatened to knock crude into the $20s. On Monday, China's blue-chip stocks fell by another 5 percent and overnight interest rates for the yuan outside of China soared to nearly 40 percent, their highest since the launch of the offshore market. Morgan Stanley warn
  
  Read more

• U.S., European shares slip as China, oil woes continue

  11-01-2016 17:47 via news.yahoo.com
  
  By Lewis Krauskopf NEW YORK (Reuters) - Global stock indexes fell on Monday, continuing a brutal start to 2016, as China's market tumbled again and the decline in oil prices worsened. The main U.S. indexes gave up earlier gains in morning trading, which came after the S&P 500 and the Dow posted their worst five-day start to the year in history. Fears over China's economy contributed to last week's declines, and the main Shanghai stock indexes each ended down more than 5 percent on Monday.
  
  Read more

• China FX reserve sell-off to soon move beyond U.S. Treasuries: BAML

  11-01-2016 17:46 via news.yahoo.com
  
  The unwinding of China's foreign exchange reserves could soon extend beyond U.S. Treasuries, with U.S. corporate and euro zone sovereign bonds among the assets most vulnerable to selling from Beijing, Bank of America Merrill Lynch said on Monday. China sold a record $510 billion of FX reserves last year to counter the damaging impact on an already decelerating economy from the surge of capital fleeing the country. The lion's share of that came from $292 billion sales of U.S. Treasury debt, follo
  
  Read more

• Flipkart rejigs top management ahead of possible IPO

  11-01-2016 17:33 via news.yahoo.com
  
  By Himank Sharma and Sumeet Chatterjee MUMBAI (Reuters) - India's biggest e-commerce company Flipkart's chief executive and co-founder, Sachin Bansal, will step down and be succeeded by its other co-founder Binny Bansal, in a move viewed by some as a step towards a stock market listing. Binny, who was chief operating officer before the rejig, launched Flipkart in 2007 with Sachin, who will now take the role of executive chairman. The Bansals, both former Amazon.com Inc employees, are not related
  
  Read more

• Honda to launch plug-in hybrid in North America by 2018: CEO

  11-01-2016 17:26 via news.yahoo.com
  
  DETROIT (Reuters) - Honda Motor Co Ltd plans to launch a plug-in hybrid vehicle in North America by 2018 in response to increasingly tough and more stringent U.S. fuel economy requirements, the company's top executive said at the Detroit auto show on Monday.
  
  Read more

• India's Flipkart rejigs top management ahead of possible IPO

  11-01-2016 17:25 via news.yahoo.com
  
  By Himank Sharma and Sumeet Chatterjee MUMBAI (Reuters) - India's biggest e-commerce company Flipkart's chief executive and co-founder, Sachin Bansal, will step down and be succeeded by its other co-founder Binny Bansal, in a move viewed by some as a step towards a stock market listing. Binny, who was chief operating officer before the rejig, launched Flipkart in 2007 with Sachin, who will now take the role of executive chairman. The Bansals, both former Amazon.com Inc employees, are not related
  
  Read more

• China's cabinet to have greater financial supervision role - source

  11-01-2016 17:10 via news.yahoo.com
  
  By Benjamin Kang Lim BEIJING (Reuters) - China's cabinet is set to take on a bigger role in overseeing financial markets, as perceived missteps by existing regulators fuel concerns globally that Beijing may lose its grip on economic policy with growth at its slowest in a quarter of a century. The State Council has set up a working group, headed by deputy secretary-general Xiao Jie, a former vice finance minister and tax chief, to prepare for upgrading the cabinet's financial department to bureau
  
  Read more

• India market outlook depends on demand, earnings: Moody's

  11-01-2016 16:38 via news.yahoo.com
  
  Mumbai, Jan 11 (IANS) The markets outlook for India this year is contingent on consumption demands, corporate earnings and inflation trends, American ratings agency Moody's said on Monday. "India enters 2016 on the cusp of a cyclical growth recovery, with inflation under control and the economy benefiting from lower commodity prices," Moody's associate managing director Atsi Sheth said in a note. Citing a projection of a boost in demand post-implementation of the recommended pay revision for cen
  
  Read more

• Wall Street edges up, rebounding from worst-ever start to a year

  11-01-2016 16:03 via news.yahoo.com
  
  U.S. stocks broadly rose on Monday, led by Apple, as they rebounded off their worst-ever start to a year and with the corporate earnings season set to kick off. All 10 major S&P sectors opened higher, before the energy and materials sectors reversed course, staying under pressure as oil prices fell for the sixth day in a row, hovering near 12-year lows. Global stocks were mixed as jittery investors looked for stability after a bruising start to the year due to declining oil prices and mounti
  
  Read more

• China central bank pledges largely stable yuan against currency basket

  11-01-2016 15:32 via news.yahoo.com
  
  China's central bank plans to keep the yuan basically stable against a basket of currencies, and fluctuations of the Chinese currency against the U.S. dollar will increase, its chief economist Ma Jun said on Monday. Ma's comments, posted on the central bank's website, come amid growing concerns over how Chinese policymakers manage the currency and stock markets after a significant yuan depreciation since the start of 2016. "The renminbi will not show one-way moves against the dollar under the ba
  
  Read more

• Indexes set to open up, bouncing off last week's rout

  11-01-2016 15:05 via news.yahoo.com
  
  Global stocks were mixed as jittery investors looked for stability after a bruising start to the year due to declining oil prices and mounting worries about a China-led slowdown in global economic growth. The S&P 500 slid 6 percent and the Nasdaq dropped 7.3 percent last week. "A relief rally would be expected at some point during the recent precipitous fall," said Andre Bakhos, managing director at Janlyn Capital LLC in Bernardsville, New Jersey.
  
  Read more

• Western sanctions 'severely' harming Russia: Putin

  11-01-2016 15:04 via news.yahoo.com
  
  President Vladimir Putin acknowledged Monday in an interview with German daily Bild that Western economic sanctions over the Ukraine crisis are affecting Russia. "Concerning our possibilities on the international financial markets, the sanctions are severely harming Russia," he said in a long interview, calling the EU sanctions "a theatre of the absurd". Moscow has been hit by US and European sanctions over the conflict between pro-Russian separatists and Ukrainian forces which has claimed more
  
  Read more

• British employers keep tight grip on pay despite recovery

  11-01-2016 15:03 via news.yahoo.com
  
  By William Schomberg LONDON (Reuters) - Britain's economy is heading into its seventh year of growth after the financial crisis but for many employers such as Mike Naylor, who runs a small metal-casting firm, business is too uncertain to raise staff pay by much this year. With the Bank of England holding off on raising record-low interest rates until it sees stronger pay growth, Naylor said he would probably only be able to offer an increase that is less generous than last year's. "If the confid
  
  Read more

• South African rand plunges as investors fret over economy, politics

  11-01-2016 14:58 via news.yahoo.com
  
  The South African unit had recovered somewhat to 16.5910 by 1300 GMT, but was still down 1.7 percent over Friday's close. The rand has been wobbly since President Jacob Zuma plunged Africa's most industrialised economy into uncertainty in December by firing Finance Minister Nhlanhla Nene in what some analysts saw as a sign of strife within the ruling African National Congress party. In an about-face, Zuma removed Nene's little known replacement within a week, returning former Treasury boss Pravi
  
  Read more

• European stocks hold up despite another China plunge

  11-01-2016 13:56 via news.yahoo.com
  
  LONDON (AP) — European stock markets held up Monday despite another big fall in China's benchmark amid ongoing worries over the outlook for the world's second-largest economy.
  
  Read more

• Don't blame the economy for China's latest market meltdown

  11-01-2016 13:55 via news.yahoo.com
  
  BEIJING/SHANGHAI (Reuters) - A renewed plunge in Chinese stock markets has stoked concerns among global investors about the health of the world's second-biggest economy, but there is little evidence that the outlook for China has darkened dramatically in recent weeks. China's economy lost steam steadily through 2015 and economists are split over when they expect it to bottom out. "I think there is little connection between the falling stock markets and the real economy," said Shen Lan, an econom
  
  Read more

• Oil prices fall for sixth day as recovery hopes wane

  11-01-2016 13:53 via news.yahoo.com
  
  By Amanda Cooper LONDON (Reuters) - Oil prices fell for a sixth session to trade at almost 12-year lows on Monday as concerns about China's economic slowdown, reflected in a renewed slide in its stock markets, weighed on the outlook for demand this year. Traders increased bets against any near-term recovery in the oil price and Brent crude futures were down by 63 cents at $32.92 a barrel by 1200 GMT, off 15 percent in a week. U.S. West Texas Intermediate (WTI) crude futures fell 48 cents to $32.
  
  Read more

• Aramco chairman says no concrete listing plans yet -WSJ

  11-01-2016 13:48 via news.yahoo.com
  
  (Adds quotes, details, background) DUBAI, Jan 11 (Reuters) - Saudi Arabia's giant national oil company is weighing various ideas regarding the possible listing of the world's largest oil company or its subsidiaries, Saudi Aramco Chairman Khalid al-Falih told the Wall Street Journal on Monday. Falih told the WSJ that there was no specific timeline yet for the listing, saying it "cannot be done overnight". Aramco is also looking into listing its refining and petrochemical assets, Falih said.
  
  Read more

• Alcoa gets $1.5 billion supply contract from GE's aviation unit

  11-01-2016 13:45 via news.yahoo.com
  
  (Reuters) - Alcoa Inc said on Monday it had signed a $1.5 billion long-term contract with General Electric Co's aviation unit to supply components used in aircraft engines. The company did not specify the period covered by the contract, which was first reported by the Wall Street Journal. Alcoa said it would make the parts in six U.S. states as well as in France and Canada.
  
  Read more

• Climate change means more fear, less fun for global middle class: UBS

  11-01-2016 13:18 via news.yahoo.com
  
  By Megan Rowling BARCELONA (Thomson Reuters Foundation) - The erosion of wealth among the world's middle class due to climate change is a threat to economic and social stability which could spur its 1 billion members to push for action on global warming, Swiss bank UBS Group AG said. In a study of middle-class consumption in 215 cities around the world, UBS analysts found spending priorities were noticeably different in cities most at risk from climate change such as Los Angeles, Tokyo and Shang
  
  Read more

• Russia's ruble slumps on first day of trading after holiday

  11-01-2016 13:15 via news.yahoo.com
  
  MOSCOW (AP) — The Russian ruble fell sharply on its first day of trading after a ten-day holiday period, as a drop in the price of oil cast a shadow across the energy-exporting economy.
  
  Read more

• Brazil probes 13 banks for Schahin, Petrobras operations: report

  11-01-2016 12:49 via news.yahoo.com
  
  BRASILIA, Jan 11 (Reuters) - Brazil's federal tax authorityand prosecutors are investigating 13 foreign and local banks forpossible financial crimes intermediating loans to Brazilianengineering group Schahin, newspaper O Estado de S. Pauloreported on Monday. The banks under investigation include the investment bankingunit of Itau Unibanco Holding SA, Itau BBA, BancoBradesco SA, Banco Santander SA, HSBCHoldings PLC, Deutsche Bank AG, Votorantimand other smaller Brazilian institutions, Estado repo
  
  Read more

• China's yuan spikes higher, but stocks tumble

  11-01-2016 12:01 via news.yahoo.com
  
  By Pete Sweeney and Lu Jianxin SHANGHAI (Reuters) - China guided its yuan currency higher on Monday, and offshore it surged against the dollar, spurred by what traders called aggressive intervention by Beijing, although Chinese stocks tumbled again as doubts persisted over policymakers' intent. Perceived mis-steps by China's authorities have stoked concerns in global markets that Beijing might lose its grip on economic policy, even as the country looks set to post its slowest growth in 25 years.
  
  Read more

Follow @FinanceUSA_News on Twitter!