BEIJING (Reuters) - China has set up a new unit to help diversify its $3.31 trillion holdings of official reserves, the country's currency regulator said on Monday.The State Administration of Foreign Exchange (SAFE) said the SAFE Co-Financing office had been created to explore new investment options that preserve and increase the value of the world's largest currency reserve stockpile."In recent...
U.S. economy to grow 2.5 percent this year: Fed's Evans
Labels: Business
HONG KONG (Reuters) - The U.S. economy is expected to grow by 2.5 percent in 2013, improving to 3.5 percent growth in 2014, top Fed official Charles Evans said on Monday.Evans also forecast the U.S. unemployment rate would be 7.4 percent this year, easing to about 7 percent in 2014."One good indicator of labor market improvement would be if we saw payroll employment increase by 200,000 each month...
Chicago-area RTA: United running 'sham' business
Labels: Business
CHICAGO (AP) — A transportation agency plans to file a lawsuit Monday alleging that United Airlines is falsely claiming to buy huge amounts of jet fuel out of a small, rural Illinois office that doesn't even have a computer to avoid paying tens of millions of dollars in taxes in Chicago, where the purchases are allegedly being made.The Regional Transportation Authority alleges United Aviation Fuels...
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