China to Allow Banks to Set Yuan-U.S. Dollar Rates

TODAY: Oct. 20, 2014 PUB DATE: July 2, 2014

China's central bank said it would allow banks to freely decide the yuan's exchange rate to the U.S. dollar when dealing with retail customers, a small step in making the Chinese unit a more market-oriented currency. The People's Bank of ...

Israel Signs Tax-Evasion Deal With U.S.--Update

TODAY: Oct. 20, 2014 PUB DATE: July 2, 2014

By Sara Toth Stub JERUSALEM--Israel has joined 80 other countries in signing an agreement with the U.S. government on fighting offshore tax evasion, the Israeli finance ministry said Wednesday. According to the agreement, Israel's tax authority will submit information on ...

Yellen Leery of Using Rates to Address Risk -- Update

TODAY: Oct. 20, 2014 PUB DATE: July 2, 2014

By Pedro Nicolaci da Costa and Ben Leubsdorf WASHINGTON--Federal Reserve Chairwoman Janet Yellen pushed back Wednesday against the notion that the central bank should consider raising interest rates to address concerns about financial stability. Ms. Yellen showed a strong reluctance ...

June Jobless Rate Seen Holding at 6.3% -- Data Week Ahead

TODAY: Oct. 20, 2014 PUB DATE: July 2, 2014

The following are forecasts for this week's remaining data from a survey compiled Friday and Monday. DATE TIME RELEASE PERIOD CONSENSUS PREVIOUS (ET) Thursday 0830 Jobless Claims Jun 28 315K (24) 312K 0830 Nonfarm Payrolls Jun +215K (34) +217K 0830 ...

Australia Trade Deficit Widens Sharply

TODAY: Oct. 20, 2014 PUB DATE: July 2, 2014

By David Rogers SYDNEY--Australia posted a seasonally adjusted trade deficit of A$1.91 billion in May, compared with a revised deficit of A$780 million in April, the Australian Bureau of Statistics said Wednesday. The figure was wider than analyst expectations of ...

Spanish Jobless Claims Keep Falling

TODAY: Oct. 20, 2014 PUB DATE: July 2, 2014

MADRID--The number of registered job seekers in Spain fell in June from May, as the country's economic recovery keeps gathering steam. Spain's labor ministry said Tuesday the number of people filing for jobless benefits fell by 122,684 from May. Over ...

WPP's Kantar Acquires Majority Stake in Guardian Digital Agency

TODAY: Oct. 20, 2014 PUB DATE: July 2, 2014

LONDON--WPP PLC's (WPP.LN) data investment management division Kantar has acquired majority stake in U.K.-based data visualization and interactive company Guardian Digital Agency for an undisclosed sum. The advertising company said Wednesday that Guardian Digital Agency will be rebranded under the ...

France Mulling Additional Tax Cuts by 2017

TODAY: Oct. 20, 2014 PUB DATE: July 2, 2014

Taxes for low and middle-income households should decrease further by 2017, French Prime Minister Manuel Valls said Wednesday in an interview. France's budget bill for 2015 plans tax cuts for around 3.7 million French taxpayers, "but we must go further ...

Orange Scraps Consolidation Plans in France

TODAY: Oct. 20, 2014 PUB DATE: July 2, 2014

By Geraldine Amiel PARIS--Telecom group Orange SA (ORA.FR) Wednesday said it has dropped plans for a potential merger or acquisition in France as conditions haven't been met. "Orange has examined the possibilities of participating in an operation that would lead ...

MARKET SNAPSHOT: U.S. Stocks Edge Up After ADP As Dow Eyes 17,000

TODAY: Oct. 20, 2014 PUB DATE: July 2, 2014

By Victor Reklaitis and Carla Mozee, MarketWatch NEW YORK (MarketWatch) -- U.S. stocks inched higher Wednesday, building slightly on the prior day's record-setting advance, as a better-than-expected report on private-sector hiring underscored the economy's recent strength. The Dow Jones Industrial ...

BOE's Haldane Says Little Evidence U.K. Is Overheating

TODAY: Oct. 20, 2014 PUB DATE: July 2, 2014

By Jason Douglas LONDON--The U.K. economy doesn't appear to be overheating despite a rapid pickup in economic growth, a senior Bank of England official said Wednesday, supporting the central bank's case for keeping interest rates low. Andrew Haldane, the BOE's ...

Yellen Leery of Using Rates to Address Risk -- Update

TODAY: Oct. 20, 2014 PUB DATE: July 2, 2014

By Pedro Nicolaci da Costa and Ben Leubsdorf WASHINGTON--Federal Reserve Chairwoman Janet Yellen pushed back Wednesday against the notion that the central bank should consider raising interest rates to address concerns about financial stability. Ms. Yellen showed a strong reluctance ...

ACE in Exclusive Talks to Buy Itau High-Risk Insurance Unit - Report

TODAY: Oct. 20, 2014 PUB DATE: July 2, 2014

SAO PAULO--U.S-based insurance company ACE Ltd. (ACE) is in exclusive talks to acquire Brazilian retail bank Itau Unibanco Holding SA's (ITUB, ITUB3.BR, ITBUB4.BR) high-risk insurance unit, local newspaper Valor Economico reported Wednesday. The unit is valued at around 1.5 billion ...

MARKET SNAPSHOT: U.S. Stocks: Futures Edge Up After ADP As Dow Eyes 17,000

TODAY: Oct. 20, 2014 PUB DATE: July 2, 2014

By Carla Mozee and Victor Reklaitis, MarketWatch NEW YORK (MarketWatch) -- U.S. stock futures notched minor gains Wednesday, as a better-than-expected report on private-sector hiring underscored the economy's recent strength. The Dow Jones Industrial Average could once again test 17,000. ...

German June New Car Registrations Down 1.9% on Year - KBA

TODAY: Oct. 20, 2014 PUB DATE: July 2, 2014

By Chase Gummer FRANKFURT--German new car registrations fell in June on the year, the German Federal Motor Transport Authority, or KBA, said Wednesday. New registrations were down 1.9% in June from the year-earlier month in Germany to 277,614 cars, in ...

Markets Tied to China Get a Lift

TODAY: Oct. 20, 2014 PUB DATE: July 2, 2014

By Shen Hong SHANGHAI--Stocks in Hong Kong rose to their highest level this year Wednesday, joining a slew of other markets closely tied to China that are rebounding on signs the world's second-biggest economy is recovering. The Chinese the government's ...

Germany Pledges No New Borrowing Until 2018--Update

TODAY: Oct. 20, 2014 PUB DATE: July 2, 2014

By Andrea Thomas BERLIN---Germany's cabinet has approved a budget for 2015 that has been hailed as historic because the country won't need to increase its borrowing for the first time since 1969. The government's spending plan doesn't require any new ...

Yellen Leery of Using Rates to Address Risk -- 3rd Update

TODAY: Oct. 20, 2014 PUB DATE: July 2, 2014

By Pedro Nicolaci da Costa and Ben Leubsdorf Federal Reserve Chairwoman Janet Yellen pushed back against critics who say the central bank should consider raising interest rates to avoid fueling future financial crises. Ms. Yellen, speaking Wednesday to an audience ...

Yellen Leery of Using Rates to Deal With Risk

TODAY: Oct. 20, 2014 PUB DATE: July 2, 2014

WASHINGTON--Federal Reserve Chairwoman Janet Yellen pushed back Wednesday against the notion that the central bank should consider raising interest rates to address concerns about financial stability. While she did not rule out applying the monetary brakes if other policy options, ...