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Cnn Premarket

Cnn Premarket

Cnn Premarket

CNBC broke the news early Thursday: The company has received a price tag of $40 billion for the purchase

China

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Eye on China: China, meanwhile, isn't thinking about when to tighten policy at all, and is back in easing mode as its economy slows and real estate developers default on their debts. Last week, it announced it would cut the amount of money that banks have to keep in reserve for the second time this year, unleashing an extra $188 billion for business and household loans. (Source:

On the radar: Beijing appears increasingly uncomfortable with the yuan's rapid appreciation. The People's Bank of China announced Thursday it would raise the foreign exchange reserve requirement ratio to 9% from 7% — the second hike in the ratio this year. The move will force Chinese financial institutions to keep more foreign money in reserve, and has been widely interpreted as an attempt to temper the yuan's rally. (Source: edition.cnn.com)

Raise

On the radar: Beijing appears increasingly uncomfortable with the yuan's rapid appreciation. The People's Bank of China announced Thursday it would raise the foreign exchange reserve requirement ratio to 9% from 7% — the second hike in the ratio this year. The move will force Chinese financial institutions to keep more foreign money in reserve, and has been widely interpreted as an attempt to temper the yuan's rally.

Watch this space: Central banks are trying to telegraph their next steps to investors to avoid unsettling markets. But data on jobs and inflation remains hard to read. The Bank of England surprised investors on Thursday when it opted not to raise interest rates, citing uncertainty about the effects of the end of the country's furlough program. (Source: edition.cnn.com)

Watch

Watch this space: OPEC+, which groups the Organization of the Petroleum Exporting Countries and allies like Russia, is once again flexing its muscle. The group's refusal to accede to US President Joe Biden's calls to boost output — a move that would have helped ease upward pressure on gasoline prices — precipitated the decision by the United States and other major energy-consuming nations last week to tap strategic oil reserves.

Watch this space: The International Energy Agency said Tuesday that a surge in new coronavirus cases will reduce oil demand by 100,000 barrels per day, while production in the United States, as well as countries like Saudi Arabia and Russia, picks up. That could keep pushing crude prices lower. (Source: edition.cnn.com)

 

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