November 7Th International Financial Media Headlines

New York Times: Geithner said the US did not deliberately devalue the US dollar.

For the Fed accused of deliberately devaluing the US dollar, Geithner did not say so in Japan last weekend.

It is understood that last Wednesday, the attention of the Federal Reserve interest rate conference ended.

In line with the market's earlier expectations, the Fed announced the launch of a $600 billion treasury bond purchase plan, which will be completed in the next 8 months.

For the Fed's resolution, emerging market countries disagree. They believe that the Fed's massive opening of banknote printing machine will make the United States digest all liquidity and excess capital will flow into other countries around the world.

The governor of South Korea's central bank said on Thursday that it would take a series of measures to curb capital inflows.

CNBC: Bernanke said the new round of QE will not cause inflation risk.

Bernanke, chairman of the Federal Reserve, said last Saturday that the US Central Bank launched a $600 billion bond purchase program last week, which will not cause a sharp rise in inflation in the US.

The main reason for the US Federal Reserve to launch a large-scale stimulus policy is to ensure the sustained recovery of the US economy and the decline in the unemployment rate.

But critics, including some Federal Reserve officials, believe that the Fed's injection of money into the market will increase the risk of inflation and lead to bubbles in the bond market and commodity markets.

Bernanke said that the introduction of quantitative easing policy will not make the US inflation rate rise to a very unusual level.

According to the plan, the Federal Reserve will buy a total of US $600 billion of government bonds in the next few months, thereby stimulating the further decline in loan interest rates and the rise in personal consumption.

Bloomberg: export recovery, US trade deficit is expected to decline in September

Economists believe that the US trade deficit may narrow in September, as the downturn in the US dollar over the past period may have played a more significant role in enhancing the US export industry.

According to Bloomberg survey, the average expected value of 57 trade deficit for September is 45 billion US dollars, which is slightly lower than the 46 billion 300 million US dollars announced in August.

According to the plan, the commerce department will announce the latest trade data in November 10th.

Economists also predict that the consumer confidence index is expected to rise in November.

The declining US dollar exchange rate will enhance the price competitiveness of American goods in the global market. On the other hand, the gradual recovery of the global economy will promote the global sales of Cummins Inc..

At the same time, for American consumers, the price of imported goods will further increase, thus affecting the purchasing power of these commodities.

YAHOO Finance: US bank bankruptcy rate hit 20 year high

The US banking industry is bankrupting at its fastest pace in nearly twenty years.

But this situation has little impact on the US economy, nor will it trigger a new round of financial crisis. At the same time, the Wall Street firm does not need a new round of rescue from the US government.

The impact of the banking bankruptcy storm is limited to the community banks in the United States.

So far in 2010, the number of bankruptcies of American community banks has reached 143, which has exceeded the sum of 2009.

It is worth noting that the average size of bankrupt banks in 2010 is smaller than that in 2008 and 2009.

Therefore, compared to the past two years, the impact of the bank collapse on the macroeconomic is relatively limited.

Nevertheless, the fact that small banks continue to fail has proved that the economic situation in many American communities or in many states is still very unsatisfactory.

Reuters: Republican targets aim at health insurance bill

Republican lawmakers in the US Congress said on Sunday that they plan to launch a comprehensive attack on the health care reform bill proposed by President Obama from 2011.

But the Republicans also admit that if the situation changes, the time for their attack on the health care reform bill may be postponed to the 2012 presidential election.

Republican Senator Paul Ryan, who is expected to be elected chairman of the House Budget Committee, said that at other parliamentary meetings held in January 2011, other Republican members would try to block the approval of the funding needed for the health care reform bill, and would take a hearing on the shortcomings of the health care reform bill.

But at the same time, the Republican Party's comprehensive attack on the health care reform bill may need to wait until the next election cycle.

By then, the two parties will once again fight for the control of Congress, and Obama will also work hard for re-election.

Ryan said: "the health care reform bill has great impact on the US economy and government finances. At the same time, this bill also has a huge impact on the health care industry.

We will take all actions to prevent the implementation of the health care reform bill. "

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Financial Times: HSBC Standard Chartered calls for amendment of Basail III clause

At present, the major trading and financial institutions represented by HSBC and Standard Chartered are lobbying regulatory authorities to further relax the relevant capital provisions in Basail III. They warn that global trade may be suppressed or even dried up if some provisions of Basel III are not amended.

HSBC, which has a larger share of the global trading market, said last week that it did not plan to predict future capital adequacy in the framework of Basel III, mainly because the unfair provisions of some trade and finance in Basel III would have a very negative impact on its core business.

Marketwatch: BP and CNOOC sign cooperation agreement

British News David Cameron will announce this week that British Petroleum has reached agreement with China's largest offshore oil producer, China National Offshore Oil Corp., and will sign an agreement on exploration cooperation, Sky News said last Saturday, citing people familiar with the matter.

Sky television reported that David Cameron will announce details of this exploration project in the South China Sea this week.

It is understood that David Cameron will arrive in China this week.

But BP declined to comment.

In a matter announced last week, BP did mention that the deal has been approved by the Chinese government for the acquisition of 42/05 block in the South China Sea oil field.

CNOOC had previously predicted that the South China Sea held about 22 billion barrels of oil reserves.

In the near future, this sea area has also attracted the interest of many petroleum enterprises.

CNNMoney: Amazon's $540 million acquisition of Quidsi

Amazon announced on the 7 th of this month that it has reached an agreement with Quidsi, an e-commerce company, and agreed to launch a takeover with the US $540 million.

It is understood that Quidsi owns e-commerce websites Diapers.com and Soap.com.

The former was launched in January 2005 by Quidsi in January 2005, which was launched by Amazon in early 2010.

It is understood that the details of the paction will be announced on Monday.

The latest data show that Amazon's takeover price is a premium of $200 million compared with the valuation of Quidsi in the latest round of financing.

In accordance with the agreement reached between the two sides, Quidsi co founder will work for many years in Amazon.

TheStreet:APEC says it wants to make the market price for money.

The two day APEC official meeting was held in Yokohama, Japan last Saturday.

Meanwhile, the APEC leaders' meeting in Yokohama, Japan, in 2010, was officially opened.

At this meeting, the topic of hot money pouring into emerging economies has become the focus.

Finance ministers from APEC agreed to avoid using their currencies as a means of trade and gaining unfair export advantage through competitive devaluation.

In a statement released by the APEC member, the Asia Pacific Economic Cooperation Group said it would work to build a system that would really allow markets to price currencies for currencies.

At the end of the meeting, the delegates agreed that "APEC members will continue to move towards a more market-oriented and exchange-rate system that reflects the fundamentals of the economy."

For the Federal Reserve's last week's $600 billion plan to buy bonds, emerging economies expressed concern that the dollar would depreciate and push up asset prices, making hot money pouring into emerging economies the focus of the conference.