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SUNDAY, NOVEMBER 22, 2009
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NEWS ABOUT: foreign currency

foreign currency stories: 8 news summaries

(Newser) - China is speeding up efforts to encourage the use of its currency in international trading, with analysts predicting that the Chinese renminbi will become one of the three top currencies by 2012, reports the Times of London. In recent months Beijing has inked currency-swap deals with central banks from Korea... More »

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China • currency • yuan • Chinese economy • US dollar • foreign currency • renminbi

MARKETS

 Swine Flu Sends 
 Travel Stocks Falling 

Airlines decline while drugmakers advance; Mexican peso tumbles

Apr 27, 09 6:39 AM CDT
(Newser) - Stocks declined worldwide today, with travel companies leading losses as investors gave their first reaction to the outbreak of swine flu. Airlines took a pummeling—Lufthansa fell more than 12%, British Airways 8.7%—and tour operators like Carnival also suffered sharp drops. But pharmaceutical companies did well: drugmaker Roche,... More »

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Mexico • British Airways • markets • Lufthansa • European markets • outbreak • influenza • Tamiflu • Roche • foreign currency • swine flu • Mexican peso

glossies

 'Viking Bankers' 
 Pillaged Iceland 

How Iceland went from fishing to finance to ruin

Mar 5, 09 2:48 AM CST
(Newser) - The bankers who ruined Iceland’s economy possessed the mentality of its fishermen—daring, aggressive, and devoted to the “lucky catch," Michael Lewis writes in Vanity Fair. It's no surprise—after all, they were the sons of fishermen whose massive profits helped modernize Iceland in the 1970s.... More »

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insurance • financial markets • fishing • Iceland • foreign currency • speculation • financial meltdown

 Russia's Credit Rating Lowered 

Putin in trouble

Dec 9, 08 1:59 PM CST
(Newser) - The plummeting ruble might just bankrupt Russia, the Financial Times reports. Standard and Poor’s has dropped the G8 member’s credit rating from BBB+ to the lowly BBB, warning that the country may have to spend all $200 billion in its sovereign wealth funds to recapitalize the banking... More »

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Russia • currency • Standard and Poor • foreign currency • credit rating • financial crisis

Pound Plunges to Record Low Against Euro

Gloomy economic outlook sends British currency tumbling

Sep 2, 08 2:26 AM CDT
(Newser) - The British pound has sunk to its lowest level ever against the euro since the European currency was introduced in 1999, the Financial Times reports. The fall follows Chancellor Alistair Darling's dire warning that the outlook for the British economy is the worst in 60 years. The pound dropped to... More »

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United Kingdom • currency • financial markets • recession • pound • euro • Alistair Darling • foreign currency

Loving Low Dollar,
Europeans Come to Shop

Tourism is up 21% in April alone

Jul 26, 08 9:04 PM CDT
(Newser) - The weak dollar is forcing Americans to shelve travel plans, but Europeans are flying over to score on stellar exchange rates. With the British pound worth $1.99 and the euro $1.58, tourists are coming to the US to shop: More than 15 million visited in the first 4... More »

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tourism • currency • currency exchange • international currency • tourists • retail shopping • foreign currency

EARNINGS REPORT

Rosy Q1 for Google 

Search giant profits up 30% as international ad business takes off

Apr 17, 08 5:45 PM CDT
(Newser) - Google reported a 30% increase in first-quarter profits today, bettering analysts’ predictions and sending share prices up 17%, Bloomberg reports. Forecasters had assumed that growth in domestic advertising clicks would slow, but Google said it “remains healthy;” a 55% increase in international ad sales gave the search giant... More »

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Google • Wall Street • ad revenue • share price • quarterly profits • foreign currency • advertising sales

Big Apple Opens Arms to Euros

Stores taking foreign currency as weak dollar encourages tourists

Feb 7, 08 12:00 PM CST
(Newser) - The falling dollar has made the US a travel bargain, and some merchants in New York City have flung open their doors—and their tills—to the sudden influx of foreign currencies, Reuters reports. The euro, up 12% against the dollar in the past year, is particularly common. "Money... More »

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New York City • exchange rate • Mexican border • euro • US dollar • weak dollar • Big Apple • Canadian border • foreign currency

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