See You in December

Published: Thu, 09/22/16

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This Day in Econ History - On this day in 1995 a contract was penned to have billionaire Ted Turner sell his broadcasting company to Time Warner Inc. for $7.5 billion. The deal was lucrative for Turner but not for many of his shareholders and coupled with objections from the Federal Trade Commission it took over a year to get the deal approved. In that time the shares of Time Warner took enough of a hit to cause the finalized deal to be worth only $6.5 billion. 

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By: Marc Chandler  |  Date: 09/22/2016

The US dollar has lost another 0.5% against most of the major currencies today, as Asia and Europe respond to the Fed's decision.  There are few exceptions to this generalization.  The Norwegian krone has gained nearly three times as much, with the help of its central bank, which has played down for lower rates at today's meeting.  The euro is at its lowest level against Nokkie since the end of last year.

 
About The Author: Marc Chandler
Head of Global Currency Strategy at Brown Brothers Harriman.
 
 
 
News Desk
 

Today, advanced economies blame China for steel overcapacity. In reality, four decades ago Washington and Brussels opted for bad policies, which China seeks to transcend.


Japan’s monetary gamble and Abenomics are approaching the end of the road. Neither Brussels nor Washington is immune to the adverse consequences of Tokyo's monetary exhaustion, says Dan Steinbock.


The Federal Reserve decided to leave its target interest rate unchanged at a range of 0.25 percent to 0.5 percent while suggesting a hike later in the year was very likely.


 
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I don't want to be president, but I want to be free to decide whether or not I want to be president of this country. - Aung San Suu Kyi
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