Brazil’s Luiz Inacio Lula da Silva called on BRICS nations to come up with an alternative to replace the dollar in foreign trade, supporting China’s crusade against US global dominance just as he prepares to meet with President Xi Jinping in Beijing. Lula’s remarks were made on Thursday during a visit to the Shanghai-based New … Read more
The $76 Billion Diet Industry Asks: What to Do About Ozempic? The Wall Street Journal Source link
The greenback has replaced the Zimbabwean dollar as the most-used currency in the southern African nation for a second time, almost four years after the re-introduction of the local unit. US dollars were utilized for 77% of transactions this year, surpassing the proportion that were conducted in the local currency for the first time since … Read more
China’s yuan has replaced the US dollar as the most traded currency in Russia, a year after the invasion of Ukraine led to a slew of Western sanctions against Moscow. The yuan surpassed the dollar in monthly trading volume in February for the first time, and the difference became more pronounced in March, according to … Read more
About the author: Marc Chandler is chief market strategist for Bannockburn Global Forex, a division of First Financial Bank. The financial shocks that keep hitting the dollar haven’t shaken its role in the world economy. The reasons matter. The dollar may not be eternal. But it won’t be China that knocks it down. The confiscation … Read more
JetBlue is preparing to cut scores of weekly flights in the New York City area this spring and summer in response to a shortage of air traffic controllers. Last week, the Federal Aviation Administration unveiled a new plan to help avoid a repeat of 2022’s flight disruptions. “We don’t want to pull down flights,” CEO … Read more
Iraq revalued its currency just over two weeks after replacingBloomberg Terminal the central bank governor as part of an effort to stabilize the foreign exchange market. The cabinet on Tuesday approved a decision to set the exchange rate at 1,300 dinars per US dollar, according to a tweet on Prime Minister Mohammed Shia Al-Sudani’s office … Read more
ShareShare Article via FacebookShare Article via TwitterShare Article via LinkedInShare Article via Email CNBC’s David Faber reports that activist investor Nelson Peltz is seeking a seat on Disney’s board of directors. With CNBC’s Melissa Lee and the Fast Money traders, Tim Seymour, Carter Worth, Steve Grasso and Courtney Garcia. 06:57 Wed, Jan 11 20236:13 PM … Read more
Nigeria’s central bank said it’s move to replace high-value currency notes will help prevent hoarding and stymie illegal activity and kidnappings in Africa’s largest economy. The country’s banking regulator plans to issue redesigned 200-, 500- and 1,000-naira notes from mid-December, Central Bank Governor Godwin Emefiele said at a briefing in Abuja, the capital, on Wednesday. … Read more
The top US bank regulator says that crypto tokens are unlikely to replace traditional currency and that banks should proceed cautiously when they experiment with the asset class. “Because crypto assets have proved to be so volatile, they are unlikely to grow into money substitutes and become a viable means to pay for transactions,” Federal … Read more