October 25Th International Financial Media Headlines

　 　 The world's leading media headlines :

New York Times: G20 promises to avoid currency wars

The two day meeting of finance ministers and central bank governors of the group of twenty (G20) ended in 23 days in South Korea. As a prelude to the G20 summit, the exchange rate dispute has become the focus of attention of all parties. The previously controversial issue of exchange rate disputes has also made significant progress at this meeting. G20 members have reached a consensus on exchange rate issues. In the current economic fragile and extremely unbalanced recovery process, all countries should work together to avoid "currency competitive depreciation" and take measures according to their respective circumstances to promote the realization of current account balance. Moreover, a major breakthrough made by the conference was that the parties also reached a "historic agreement" on the reform of the IMF share quota and shifted more than 6% of the voting rights to the emerging economies, while protecting the voting rights of the poorest countries. 6% which countries will be specifically assigned to the voting rights will be left for discussion at the G20 summit held in Seoul, South Korea in November. The meeting also agreed to tighten supervision over banks and big financial companies.

　 CNBC: Germany accuses the US of manipulating the US dollar indirectly

German economic minister Bruederle (Rainer Bruederle) expressed his views on the US policy of increasing liquidity last Saturday. Bruederle said that the US approach is in essence an indirect manipulation of the US dollar exchange rate. It is widely believed that the US Federal Reserve will adopt a new round of asset acquisition plans in the near future, thereby stimulating the recovery of the US economy. During the G20 finance ministers meeting last weekend, Bruederle said: "outside voices of doubt suggest that the US's policy of increasing liquidity has threatened the interests of other countries. My personal standpoint is that this is a wrong way. "

Bruederle pointed out: "if the money supply is excessive and in long-term growth, this is essentially an indirect manipulation of exchange rate."

Wall Street Journal: two houses help restart foreclosures

The US real estate mortgage company "Fang Fang" - Freddie Mac and Fannie Mae both said they will play a leading role in promoting the bank's foreclosure in the agreements signed with banks and major insurers, people familiar with the matter said recently.

It is reported that on the 13 th of this month, all the 50 attorneys general of the United States issued a joint statement, saying they would jointly investigate false documents and fraud that may exist in the foreclosure activities of financial institutions. Under the pressure of public opinion and supervision, all major financial institutions in the United States announced the freezing of foreclosures. Data show that in September this year, foreclosure homes in the United States were over 100 thousand for the first time, and foreclosed houses accounted for 30% of the total housing sales in the United States.

　 Marketwatch: next week, macroeconomic data will not change.

According to the plan, important data such as GDP in the third quarter of the United States will be released in the next week. Economists believe that these forthcoming figures will show the overall improvement of the US economy, but it is difficult to change the situation of poor long-term growth prospects. According to the forecast, second-hand housing and new home sales and durable goods orders are expected to rebound in September, and most importantly, the GDP growth rate in the third quarter is expected to be slightly higher than that in the second quarter of this year.

But economists also pointed out that although the above data is expected to grow, this does not mean that the current US economy has seen a marked improvement. Economists believe that the downturn in the US economy will continue for at least the next 14 months, which means that the unemployment rate will remain high and the risk of deflation will continue.

　 CNNMoney: oil prices push natural gas prices into a rising channel

A recent survey showed that, thanks to the recent surge in crude oil prices, only in the past two weeks, there has been a marked rise in natural gas prices. In the survey launched by Lundberg Survey last Friday, the price of natural gas varieties of regular self service (self-serve regular) reached a US $2.82 per gallon. Trilby Lundberg, the editor in charge of the survey, said it was 5.23 cents higher than the average price per gallon in the previous two weeks.

Trilby Lundberg said that because of the recent rise in crude oil prices pressure on the profit margins of natural gas products, retailers have raised the prices of natural gas related products in order to gain profits. Trilby Lundberg said crude oil prices rose sharply as the employment data report was lower than market expectations, and the market expected the Federal Reserve to launch a new round of quantitative easing monetary policy. {page_break}

　 YAHOO Finance: Obama said that the Republican Party's ruling will make consumers lose.

US President Obama has said that if the US Republican Party controls Congress and tries to impede its difficult reform of Wall Street, American consumers will suffer losses. In a broadcast and Internet speech last Saturday, Obama said that the US Republican Party promised to reform the bill, which means that the Republican Party tried to return to its previous financial system, and it was this defective financial system that led to a severe economic recession.

Obama said: "if there is a lack of strong supervision and effective protection for consumers in the financial industry, the whole economy will once again be in crisis. It's not good for the American people, it's not good for Wall Street, and it's not good for either side. " Despite opposition from Republicans, Obama's financial reform bill is still passed. Obama hopes to strengthen the regulation of the financial system through this bill, so as to avoid banks, dealers and other parties taking risks too risky and thus bringing risks to the whole economy.

Financial Times: overseas demand has led to a strong recovery in the US manufacturing sector.

The latest figures show that although the current US economic recovery is staggering, the manufacturing sector seems to be showing strong growth momentum independently, and industry analysts say it is mainly driven by the demand from overseas markets.

In the past week, a series of enterprises, including Boeing, comprehensive industrial giant Honey Well Company (Honeywell), the world's largest building and mining equipment manufacturer Caterpillar (Caterpillar), and diversified manufacturer Eaton have released third quarter financial reports, which is gratifying and exceeding market expectations. In the next two weeks, other manufacturing companies will also issue quarterly reports. Industry analysts believe that the quarterly reports of these enterprises will show signs of healthy and vigorous development in the company. It is reported that these upcoming quarterly enterprises include Emerson electric, 3M and Cummins Engine Company (Cummins).

　 Reuters: the Senate is unlikely to exert pressure on the renminbi.

Analysts said last Sunday that because the G20 promised last weekend to prevent countries from gaining the trade advantage through currency devaluation, the US Senate could not follow the house of Representatives's approach on the issue of RMB exchange rate. Last weekend, the G20 finance ministers meeting was held in South Korea. The finance ministers promised that they would not adopt a competitive currency devaluation strategy and would seek a broader policy to reduce the excessive external imbalance.

According to the plan, the US congressional mid-term elections will be held in November 2nd this year. Before that, the US Congress will use only a few weeks to deal with major expenses and income taxes. Economists believe that even if the G20 finance ministers failed to reach the relevant agreement last week, the Senate passed the house of Representatives before the pressure on the RMB appreciation bill is unlikely.

Bloomberg: the new stock exchange plans to buy $8 billion 200 million for the Australian exchange.

According to two sources, Singapore Bats Exchange Inc (Singapore Exchange Ltd.) plans to acquire ASX Ltd. of the Australian stock exchange operator through cash plus stock, and the total value of the transaction will reach about 8 billion 400 million Australian dollars (US $8 billion 200 million). It is reported that the new exchange will offer ASX at a price of HK $48 per share, while 55% of the total transaction will be paid by shares, while the rest will be paid in cash, that is, the cash portion will be about 22 Australian dollars per share. According to the plan, the new stock exchange will announce the takeover statement this week.

Sources said that after the completion of the transaction, the two sides will set up a new company, and its shares will mainly be traded in the Singapore market. In addition, the new company's depository receipts will be traded in the Australian market. A source said that every ASX investor can exchange 1 to 3.5 for the new stock exchange.

Thestreet: Jaguar Land Rover seeks partners in China

Recently, foreign media reported that the Jaguar Land Rover of Tata Motors Group in India is currently negotiating talks with a Chinese car manufacturer to set up a joint venture in China, hoping to build and sell cars in China. Land Tower car CEO Carle Peter Foster (Carl-Peter Forster) said on Saturday that Jaguar Land Rover's current negotiation with the Chinese car company is gratifying. Jaguar road tiger will soon seek partners in China. But for the name of the Chinese car company, Carle Peter Foster refused to disclose.

It is reported that Tata Motors acquired Ford's Jaguar and Land Rover brand in 2008. Forster joined Tata motor in India in February this year. He served as GM CEO Europe, responsible for all matters of Opel and Saab brand, and Chevrolet brand's operation in Europe. Tata Motors has jumped into the world luxury car market with its $2 billion 300 million acquisition of Jaguar and Land Rover, becoming the focus of attention of the global industry.

Nikkei news: Geithner said the United States has established a strong dollar policy.

The two day meeting of finance ministers and central bank governors of the group of twenty (G20) ended in 23 days in South Korea. As a prelude to the G20 summit, the exchange rate dispute has become the focus of attention of all parties. At the meeting last Saturday, US Treasury Secretary Geithner said that he was optimistic about the prospects of the global economic policy reached by the finance ministers of the group of 20 and emerging developing countries at the G20 finance ministers meeting. But he also stressed that the results of the policy implementation were also crucial. "At present, the test for all countries lies in whether they will act in accordance with the various matters reached at the conference," Geithner said at a news conference. At the G20 finance ministers meeting, all countries promised to avoid "currency competitive depreciation", take measures to promote the realization of current account balance according to their respective circumstances, and all parties also reached a "historic agreement" on the reform of the IMF share quota, transferring more than 6% of the voting rights to the emerging economies, while agreeing to impose more stringent supervision on banks and big financial companies. This is the first time that the G20 finance ministers' meeting has issued a consensus on the global exchange rate dispute to prevent global currency war.