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June, 29, 2016

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Business > Global Markets
Mainland China's central bank on Monday set the value of the yuan currency at a more than five-year low against the U.S. dollar, according to the national foreign exchange market, in a pattern of weakness in anticipation of higher U.S. interest rates.
 
Tokyo stocks led Asia higher Monday, boosted by hopes the government will delay a sales tax hike and by a weaker yen after Federal Reserve boss Janet Yellen hinted that a U.S. interest rate increase was looming.
 
A new international treaty is needed to compel businesses to stamp out abuses such as child labor and modern-day slavery in their supply chains, Human Rights Watch (HRW) said on Monday at the start of a global labor summit in Geneva.
 
Seducing hyper-connected "Millennials" poses an increasing challenge for luxury brands, which find their markets slowing as young, skeptical consumers force them to rethink strategies.
 
The dollar extended its gains in Asia Monday on the back of comments from Federal Reserve boss Janet Yellen that bolstered speculation that a U.S. rate hike was drawing closer.
 
Oil prices dipped in Asia Monday after comments from the U.S. central bank head suggesting interest rates will soon rise, but traders are pinning their hopes on a tightening global market ahead of this week's OPEC meeting.
 
Slight cancer concerns: phone radiation study
A new U.S. study of the potential dangers of cellphone radiation, conducted in rats, found a slight increase in brain tumors in males and raised long-dormant concerns about the safety of spending so much time with cellphones glued to our ears.
 
Pumping up the world economy is an "urgent priority" G-7 leaders said Friday, as they warned there could be dire global consequences if Britain decides to leave the EU.
 
Shares in Taiwan moved higher Friday as investors were encouraged by a deal to set up an integrated circuit packaging and testing firm in Taiwan, prompting them to pick up semiconductor stocks, dealers said.
 
The yen ticked up in thin trading against the U.S. dollar and euro Friday after the G-7 reaffirmed previous commitments not to intervene in foreign exchange markets.
 
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