China's central bank launches spot checks on bitcoin exchanges
SHANGHAI China's central bank said on Wednesday it launched spot checks on major bitcoin exchanges in Beijing and Shanghai, knocking the price of the cryptocurrency down by more than 6 percent.The probe of bitcoin exchanges, including BTCC, Huobi and OKCoin, was to look into a range of possible rule violations, including market manipulation, money laundering and unauthorized financing, the People's Bank of China (PBOC) said. It did not say if any violations had been found.On the Europe-based B..>> view originalXi to Stress China's 'Responsible' Global Role in Davos
BEIJING—China’s government said its leader would signal at a global forum next week that Beijing supports multilateralism and is a responsible global power, as the incoming Trump administration strikes a different tone. President Xi Jinping will emphasize China’s support for global cooperation and free trade at a keynote speech on Tuesday at the World Economic Forum in Davos, Switzerland, and in an address to the United Nations in...>> view originalUS charges three traders in forex rigging probe
By Nate Raymond | NEW YORK NEW YORK The U.S. Justice Department on Tuesday brought charges against three former traders at JPMorgan Chase & Co, Citigroup Inc and Barclays Plc arising from a global probe into the manipulation of foreign exchange rates at major banks.Richard Usher, formerly of JPMorgan, Rohan Ramchandani, formerly of Citigroup, and Christopher Ashton, formerly of Barclays, were charged with conspiring to restrain trade in an indictment filed at a federal court in Manhattan. Th..>> view originalWhat Trump doesn't know about Alibaba's jobs pledge
"It makes sales into China prohibitive," Lewin said. "You can't compete with the volume of selling of fakes on the internet." That's not all. Once a company has introduced its product to Chinese counterfeiters, they can start selling their knockoffs globally, whether on Alibaba, Amazon.com or eBay. That makes Chinese counterfeiting a problem that extends far beyond China. Alibaba spokesman Robert Christie told CNBC that there are certain categories of products that Chinese consumers onl..>> view originalDollar Gains Before Trump as Oil Rises on OPEC Cut: Markets Wrap
The dollar strengthened and Treasuries edged lower as investors awaited President-elect Donald Trump’s first press conference since July. Oil climbed from the lowest level in a month.Trump’s impending address is helping boost bets on U.S. economic growth that have already sent the dollar to the highest in the past month. The three worst-performing major currencies of 2017 -- the pound, Mexican peso and Turkish lira -- extended their slide and the yen snapped a two-day advance. Oil rose as inves..>> view originalAirbus deliveries rose 8 percent, orders outpaced Boeing in 2016
By Tim Hepher | TOULOUSE, France TOULOUSE, France Airbus (AIR.PA) posted an eight percent rise in deliveries last year, beating its own forecasts by a comfortable margin to set a company record, and pulled off a last-minute surge in orders to beat arch-rival Boeing (BA.N) in the race for new orders.Confirming an estimate published by Reuters, the European planemaker said on Wednesday it delivered 688 aircraft in 2016, compared with an official company forecast of more than 650 and a goal set..>> view originalTwo GOP senators want Trump to remove consumer bureau chief Richard Cordray
Two Republican senators are asking President-elect Donald Trump to quickly remove Richard Cordray, the director of the Consumer Financial Protection Bureau, setting up a potential legal and political showdown over the controversial agency."It's time to fire King Richard," said Sen. Ben Sasse (R-Neb.), a member of the Senate Banking Committee and like many Republicans a harsh critic of the agency created by the 2010 Dodd-Frank financial regulatory overhaul. "Underneath the CFPB's Orwellian acro..>> view originalAsian stocks mostly higher as dollar strengthens
TOKYO (AP) — Asian shares were mostly higher Wednesday morning on the back of a strengthening dollar and quiet trading ahead of remarks by President-elect Donald Trump.KEEPING SCORE: Japan's benchmark Nikkei 225 rose 0.4 percent in the morning session to 19,370.86. Australia's S&P/ASX 200 added 0.4 percent to 5,782.90. South Korea's Kospi was up 1.2 percent at 2,071.09. Hong Kong's Hang Seng surged 0.7 percent to 22,911.06, while the Shanghai Composite was little changed at 3,161.87. Shares in ..>> view originalFalcon Bank's Former Singapore Manager Sent to Prison in 1MDB Probe
A Singapore court Wednesday sentenced a former branch manager of Switzerland’s Falcon Private Bank AG to prison for crimes connected to the alleged multibillion-dollar misappropriation at Malaysian state investment fund 1MDB. Jens Sturzenegger, 42, a Swiss national who managed Falcon’s Singapore unit, was charged last week with 16 offenses under various laws, including one that requires banks and their officers to enact due-diligence...>> view originalGeneral Motors exudes optimism, raises outlook for 2017
Optimistic executives at General Motors say strong sales in two core markets, the U.S. and China, along with cost-cutting will power the company to higher profits in 2017.CEO Mary Barra and President Dan Ammann told a Deutsche Bank auto industry conference in Detroit to expect pretax adjusted earnings per share of $6 to $6.50 this year, up 50 cents from guidance issued for 2016. GM also said 2016 earnings would be at the high end of its guidance of $5.50 to $6 per share. GM reports 2016 results..>> view original
Monday, February 6, 2017
China's central bank launches spot checks on bitcoin exchanges and other top stories.
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