SAO PAULO, June 11 (Reuters) – The Brazilian real weakened 1.3 percent in the first minutes of trading on Thursday after the central bank slowed the rollover pace of currency swaps that expire early next month, signaling less support for the currency.
Low-wage workers are getting priced out of America’s biggest cities. While some cities like Seattle and San Francisco have recently raised the minimum wage to as much as $15 an hour, these increases are just not be enough to provide a roof over your head. According to real estate firm Zillow, an average renter should be spending approximately 30% of their wages on the cost of their residence in order to have enough money left over for other expenses…
This rally in Dubai is a mystery. Shares of Amlak Finance PJSC, a financial services company, doubled in a seven day period, according to a report by Bloomberg’s Dana El Baltaji. The company doesn’t know why and investors cannot figure it out. Wadah Al Taha, a chief investment officer in Dubai, told Bloomberg, “There is no reason for this move, and speculation and gambling have now completely taken over Dubai’s market…
BRUSSELS, June 11 (Reuters) – Greece has no more time for “gambling” and needs to decide on a cash-for-reforms deal, while next week’s meeting of euro zone finance ministers in Luxembourg will be crucial, European Council President Donald Tusk said on Thursday.
HONG KONG/BEIJING, June 11 (Reuters) – China is to further broaden cross-border financing channels for both Chinese and foreign institutions, the central bank said on Thursday, as it seeks to accelerate opening up its domestic market and promote the yuan as an international currency.
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