GERMANY’S central bank has said it will include the Chinese yuan in its reserves, giving another boost to China’s drive to internationalize the currency. The Bundesbank said its board had decided in July to invest in the yuan to take account of its growing importance globally, though it did not say when it would begin to include it or how much it would purchase. “The decision to accept the yuan is part of a long-term diversification ...
The Republican-controlled US House of Representatives gave final approval on Wednesday to the biggest overhaul of the US tax code in 30 years, sending a sweeping US$1.5 trillion tax bill to President Donald Trump for his signature. In sealing Trump’s first major legislative victory since he took office in January, Republicans steamrolled opposition from Democrats to pass a bill that slashes taxes for corporations and the wealthy while giving mixed, temporary tax relief to middle-class ...
UK inflation at highest in 6 years more...
A Bitcoin mining company in Slovenia has been hacked for the possible theft of tens of millions of dollars, just days before the virtual currency, which hit a record above US$15,000 yesterday, is due to start trading on major US exchanges. NiceHash, a company that mines Bitcoins on behalf of customers, said it is investigating a security breach and will stop operating for 24 hours while it verifies how many bitcoins were taken. Research ...
POWERED by Chinese smartphone users splurging billions on mobile games and online shopping, tech giants Tencent and Alibaba are racing up the elite league of the world’s most valuable companies. Hong Kong-listed Tencent, famous for its games and WeChat messaging service, became the first Asian firm to break into the US$500 billion league last week — briefly overtaking Facebook as the world’s fifth biggest company by market value. ...
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