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Bank of England stance on rates unchanged by China - Carney

JACKSON HOLE, Wyo. - Bank of England Governor Mark Carney said on Saturday that a slowdown in China's economy could push down further on inflation but it did not change, for now, the central bank's position on when and how it might increase interest rates.

Recent Business News

China to cap 2015 local government debt at $2.5 trillion - Xinhua

BEIJING - China's parliament approved on Saturday a cabinet plan to cap total outstanding local government debt at 16 trillion yuan ($2.5 trillion) this year, the official Xinhua news agency reported.

12:54pm BST

German finance ministry sees rising government borrowing costs - Spiegel

BERLIN - Germany's Finance Ministry expects government borrowing costs to rise next year, Der Spiegel magazine reported on Saturday.

11:07am BST

Largest Dutch pension fund exits Mylan over death penalty concerns

AMSTERDAM - The Dutch public employees' pension fund, the world's third largest, has sold all its shares in pharmaceuticals maker Mylan after it emerged that one of the company's products is in stock at a U.S. prison where death sentences are carried out.

10:03am BST

China's commerce ministry defends devaluation, sees 'limited' impact

BEIJING - China on Saturday defended the recent revamp of its foreign exchange regime that led to a sharp devaluation of the yuan, calling it a "normal adjustment".

8:38am BST

Sweden to raise welfare spending in 2016 - paper

STOCKHOLM - Welfare spending in Sweden will rise by 1.7 billion crowns ($200 million) next year under a deal agreed between the country minority government and an opposition party, daily Svenska Dagbladet wrote.

3:11pm BST
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