The current level of China's yuan CNY=CFXS is appropriate because it reflects foreign exchange supply and demand and economic fundamentals, a top central bank researcher said on Saturday, playing down talk of suspected official intervention.
cross-border
Spain's Banco Sabadell (SABE.MC) could look to expand further in Britain after agreeing a 1.7 billion pound ($2.5 billion) takeover of TSB (TSB.L), one of the biggest cross-border banking deals since the financial crisis of 2007-09.
France's Orange and Italy's telecom operator Telecom Italia have been discussing a possible alliance between the former monopolies, Orange's chief executive told the Journal de Dimanche.
Sudden swings in financial markets recently suggest they are becoming more fragile and sensitive to unexpected events, the global organization of central banks said on Sunday, warning that a rising U.S. dollar could have a "profound impact" on emerging markets in particular.
China's Industrial and Commercial Bank (ICBC) signed a pact with the Los Angeles city government to promote cross-border yuan trade and set up an offshore renminbi center in California, the bank said on Saturday.
Internet auction site eBay intends to drive a wave of consolidation in Russia's e-commerce market over the next couple of years, persuading smaller companies to get on board as the economy weakens.
Financial leaders of the Group of 20 top economies remain committed to chasing higher global growth, but were divided on how to achieve it as Germany pushed back at calls from the United States and others for more immediate stimulus.
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