Pound Falling to Parity Is an Idea That’s Starting to Take Hold

(Bloomberg) — Follow @Brexit, sign up to our Brexit Bulletin, and tell us your Brexit story. Suddenly, the idea of pound parity seems less far-fetched as the risk grows that Britain may split with the European Union without a deal.Rupert Harrison, a fund manager at BlackRock Inc., is short the pound
— Read on ca.finance.yahoo.com/news/pound-falling-parity-idea-starting-040005641.html

ECB’s Sub-Zero Headache Might Require Range of Fixes to Be Fair

(Bloomberg) — European Central Bank officials trying to make their sub-zero monetary policy more palatable may need to be imaginative if they want it to reach the whole euro zone. While the ECB levies a deposit rate of -0.4% to stimulate the economy, charging banks to deposit money effectively curbs
— Read on ca.finance.yahoo.com/news/ecb-sub-zero-headache-might-040000358.html

The big reason China won’t let the yuan go into free fall against the dollar has to do with Japan and Europe – MarketWatch

China doesn’t want a new front in its trade war with the U.S.
— Read on www.marketwatch.com/story/the-big-reason-china-wont-let-the-yuan-go-into-free-fall-against-the-dollar-has-to-do-with-japan-and-europe-2019-08-08

Explainer: How does China manage the yuan, and what is its real value? – Reuters

The U.S. government’s decision to label China a currency manipulator after Beijing allowed the yuan to weaken past the symbolic 7-per-dollar level has raised questions about how tightly managed the currency is, and its true value.
— Read on www.reuters.com/article/us-usa-trade-china-yuan-explainer/explainer-how-does-china-manage-the-yuan-and-what-is-its-real-value-idUSKCN1UZ0JN

Baby boomers’ wealth is 12 times greater compared to millennials

The net worth gap between older and younger Americans has grown into a chasm. While the average older household had about seven times the net worth of younger households in 1998, they now have about 12 times the net worth, according to a MagnifyMoney analysis of Federal Reserve data.
— Read on www.cnbc.com/2019/08/08/baby-boomers-wealth-is-12-times-greater-compared-to-millennials.html

TikTok parent ByteDance to launch search in China to challenge Baidu

TikTok parent ByteDance recently announced plans to launch a search product to challenge incumbent Baidu, a company which has more than 70% market share in China.
— Read on www.cnbc.com/2019/08/08/tiktok-parent-bytedance-to-launch-search-in-china-to-challenge-baidu.html