Japanese, Chinese sweat on US dollar
GREENER THAN EVER:
The ailing US dollar, which has fallen against the euro, yen and other major currencies, is a source of concern for finance officials in Tokyo and Beijing
Japan's finance minister said yesterday that authorities are closely monitoring the yen's rise against the US dollar but offered no clear sign of currency-market intervention to weaken the yen.
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Capital crunch in Asia can't be ruled out, Asian Development Bank warns
Risks of a capital crunch in Asia cannot be ruled out despite limited regional exposure to the US subprime mortgage crisis, the Asian Development Bank (ADB) warned yesterday.
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Retailers hold their breath on Black Friday
START THE CASH REGISTERS:
The day after Thanksgiving is make or break for US retailers, who hope that shoppers will put economic and other worries behind them
The equivalent of six times the population of Australia, or all of Japan plus 5 million, are expected to be out shopping in the US today, one of the busiest days of the year for US retailers.
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BHP claims Rio takeover won't affect iron prices
MONOPOLY MONEY:
China is concerned that BHP Billiton Ltd's US$125 billion takeover of Rio Tinto Group will allow BHP to control iron prices
BHP Billiton Ltd told Chinese steelmakers, the biggest buyers of iron ore, that it will refrain from using a potential US$125 billion takeover of Rio Tinto Group to control prices, according to a Chinese executive.
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Japan Tobacco and Nissin Food plan to purchase Katokichi
Japan Tobacco and Nissin are buying scandal-ridden Katokichi in a deal exceeding ?100 billion (US$917 million) that would create Japan's biggest frozen food maker, the companies said yesterday.
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World Business Quick Take
■ Automobiles
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