Stock Market

Reuters – The Senate is unlikely to take up pending China currency legislation following a weekend promise by the Group of 20 economic powers to shun currency devaluations for trade advantage, analysts said on Sunday.

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DUBAI (Reuters) – A Dubai court restarted a fraud trial against two former executives of Dubai Islamic Bank (DIB) on Sunday having changed their status to government officials, making a stricter punishment more likely.

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SINGAPORE (Reuters) – Singapore Exchange is likely to offer as much as A$8.4 billion (5.3 billion pounds) for Australian bourse operator ASX Ltd, a source said, a move which could mark Asia-Pacific’s first major consolidation of exchanges.

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Reuters – Singapore Exchange is likely to offer as much as A$48 per share to take over ASX Ltd , valuing the Australian bourse operator at A$8.4 billion ($8.3 billion), according to a source with knowledge of the deal.

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Reuters – U.S. stocks could see big swings to the downside this week on any remotely “bad” news since volatility indexes are at levels considered too low.

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Reuters – Chinese police on Sunday broke up protests against Japan in the northwestern city of Lanzhou over a territorial dispute that has stoked tensions between Asia’s two biggest economies.

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Reuters – The Group of 20 major economies vowed to avoid competitive currency devaluations and shifted more power to emerging economies at the IMF, taking steps that analysts viewed as important for averting trade wars and promoting flexible exchange rates.

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Reuters – The Group of 20 major economies agreed on Saturday to shun competitive currency devaluations but stopped short of setting targets to reduce trade imbalances that are clouding global growth prospects.

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BRUSSELS (Reuters) – European Union leaders will back next week a reform of EU budget rules which introduces new sanctions for rule-breakers but retains political discretion over the process, draft conclusions of the EU summit showed.

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ATHENS (Reuters) – Greece is making progress in its fiscal consolidation efforts but it still has a long way to go, the Bank of Greece says in a new report, the Kathimerini newspaper said on Saturday.

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