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HONG KONG (AP) — World stock markets are rebounding today as the fall in the Chinese yuan slowed and the country's central bank tried to dampen speculation of further devaluation.
European stocks jumped in early trading, and U.S. stocks are poised to open higher. Dow futures were up 0.2 percent to 17,049.00 and broader S&P 500 futures rose 0.2 percent to 2,089.30.
WASHINGTON — It's a busy day for economic and business events. The Labor Department will release weekly jobless claims at 8:30 a.m. and the Commerce Department's update on retail sales data for July, due out the same time. Later in the morning, mortgage company Freddie Mac releases weekly mortgage rates and the Commerce Department releases business inventories. Second quarter earnings will be coming from shipping giant AP Moller-Maersk. And the Bank of Korea holds a monthly rate-setting meeting.
BEIJING (AP) — China is trying today to ease fears of more big declines for its currency, the yuan. A deputy central bank governor says there's "no basis for persistent and substantial devaluation," adding the yuan is close to "market levels" after two days of sharp declines.
BERLIN (AP) — German prosecutors have filed tax evasion charges against eight current and former Deutsche Bank employees over their alleged participation in a value-added tax fraud scheme involving carbon dioxide emissions certificates.
Frankfurt prosecutors say that the eight — seven of whom are still employed by the bank — are accused of being involved in the scheme between September 2009 and February 2010.
DUBAI, United Arab Emirates (AP) — The Middle East's biggest airline will soon be operating the world's longest commercial flight. Emirates has announced plans today to begin daily roundtrip flights between its Dubai hub and Panama City, its first destination in Central America. It says the 17 hour, 35 minute flight when heading west will be the longest anywhere.
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