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From AP News | 2009-07-03 07:21:08

Floor traders work at the Hong Kong Stock Exchange Friday, July 3, 2009 in Hong Kong. Asian stocks retreated Friday as a weaker-than-expected U.S. jobs report signaled more pain ahead for the world's largest economy. Losses across Asia were somewhat tame compared to Wall Street, where markets pulled ...

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Clearing key to making derivatives safer: EU »

Reuters US Online Report Business News | 2009-07-03 10:24:46

BRUSSELS (Reuters) - Derivatives pose risks on financial markets that central clearing of contracts would mitigate, the European Commission said on Friday, outlining plans that fall short of more radical U.S. steps. EU Internal Market Commissioner, Charlie McCreevy, opened an investigation into the sector last October, a month after the collapse of Lehman Brothers, a bank heavily involved in the global $600 trillion off-exchange derivatives market. McCreevy published his findings and policy proposals on Friday which said standardization of contracts -- a process already underway -- is also needed, as well as ...

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Major nations should back dollar as key currency: Japan »

Reuters US Online Report Business News | 2009-07-03 08:53:23

TOKYO (Reuters) - Major countries should support the dollar as the key international currency, although emerging nations may discuss a new global reserve currency on the sidelines of the G8 summit next week, a Japanese official said on Friday. China has asked for debate on a new global reserve currency when leaders from the Group of Eight (G8) meet with the G5 emerging economies next week in Italy, G8 sources told Reuters. News of the Chinese request pushed the dollar down to a three-week low on Wednesday. But Japan thinks it ...

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CORRECTION Hong Kong World Markets »

From AP News | 2009-07-03 07:21:06

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