China central bank seeks calm as yuan slips for third day
Beijing officials insist yuan decline has limited fundamentals risk and cite strong economy, trade surplus, fiscal position, and reserves. Despite a 2 percent one off depreciation, markets fear a currency war as July data and rate-cut expectations press on. Fitch notes wider economic pressure but reform remains a priority. Yi Gang says further weakening unlikely and vows faster FX market opening to attract investors.
MENTIONED IN THIS ARTICLE
Beijing
Shanghai
China
People’s Bank of China
PBOC
U.S
Yi Gang
Fitch Ratings
Fertilizer deals spark potential nitrogen market consolidation
The surge in fertilizer deals, headed by CF Industries Holdings, aims at snipping rivals in the U S Midwest and Gulf Coast as farmers face lower crop receipts. Industry observers say a down cycle could drive consolidation in the fragmented nitrogen market and attract more public company activity.
MENTIONED IN THIS ARTICLE
CF Industries Holdings Inc
United States
Midwest
U.S. Gulf Coast
Chris Damas
BCMI
CHS
Carl Casale
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