Money Daily Brief: US-China in biggest trade spat yet
鈥� Updated 10:15 a.m. EDT (14:19 UTC)
鈥ipe fight: China said it was on a Chinese pipe manufacturer. Its the latest and largest ever trade scuffle between the two countries. Separately, President Obama must decide on whether to approve a nearly total .
鈥ll that glitters: All eyes are on gold Thursday and whether it can close above $1,000 per ounce, as . Japan's top foreign exchange official said the US currency will , despite suggestions from the United Nations that emerging markets should introduce a new world currency.
鈥�A taste for acquisition: Japanese drinkmaker Suntory, trapped in a shrinking and saturated domestic market, , which is held by a US equity fund. Food industry competitors are responding to falling sales by acquiring competitors. 狈别蝉迟濒茅, the world's largest food company, after the latter rejected a bid from No. 2 Kraft.
鈥orst may be over: Asian stocks rose, anticipating an end to the US recession after a Federal Reserve report said that . The Labor Department said first-time benefits claims by unemployed Americans fell to last week. But they still point to a snail-like recovery. The US trade deficit in July widened at .
鈥rom my backyard: Five East African nations stand to benefit if their governments can perfect a $282 million power deal that would lakes region. One of those nations, Rwanda, is relishing its new World Bank ranking as the .
鈥� Drew Hinshaw is a Monitor contributor in Accra, Ghana.
