Headlines Of International Financial Media On November 7

　 The following are Financial headlines of major global media ：

New York Times: Geithner said the United States did not deliberately devalue the dollar

Geithner said in Japan last weekend that he was not the case with the Federal Reserve's deliberate devaluation of the dollar, which was criticized by the market. It is understood that on last Wednesday, the closely watched interest rate meeting of the Federal Reserve came to an end. In line with the market's earlier expectations, the Federal Reserve announced the launch of a US $600 billion bond purchase plan, which will be completed in the next eight months.

Emerging market countries do not agree with this resolution of the Federal Reserve. They believe that the Federal Reserve's massive opening of the money printing machine will allow the United States to digest all liquidity, and excess capital will flow into other countries around the world. The governor of the Bank of Korea immediately said last Thursday that he would take a series of measures to curb capital inflows.

　 CNBC: Bernanke said that the new round of QE will not cause inflation risk

Federal Reserve Chairman Bernanke said last Saturday that the US central bank launched a round of US $600 billion bond purchase project last week, which will not lead to a sharp rise in the US domestic inflation rate. The reason why the Federal Reserve launched a large-scale economic stimulus policy again is mainly to ensure the sustained recovery of the U.S. economy and the decline of the unemployment rate. However, critics, including some officials of the Federal Reserve, believe that the capital injected by the Federal Reserve into the market will increase the risk of inflation and lead to bubbles in the bond market and commodity market.

Bernanke said that the quantitative easing policy introduced this time will not make the US inflation rate rise to a very abnormal level. According to the plan, the Federal Reserve will purchase a total of $600 billion of government bonds step by step in the next few months, thus stimulating the further decline of loan interest rates and the rise of personal consumption.

　 Bloomberg: Export recovery, US trade deficit expected to decline in September

Economists believe that the US trade deficit may shrink in September because the downturn of the US dollar in the past period may have a more obvious role in improving the US export industry. According to a survey by Bloomberg, the average expectation of 57 economists for the trade deficit in September was $45 billion, slightly lower than the $46.3 billion announced in August. According to the plan, the US Department of Commerce will release the latest trade data on November 10. In addition, economists also predicted that the consumer confidence index in November is expected to rise.

The falling dollar exchange rate will enhance the price competitiveness of American goods in the global market. On the other hand, the gradual recovery of the global economy will promote Cummins Inc The increase of global sales of such companies. At the same time, for American consumers, the price of imported goods will rise further, which will affect their purchasing power for these goods.

　 Yahoo Finance: The bankruptcy speed of American banking industry hit a new 20 year high

American banks are going bankrupt at the fastest rate in nearly 20 years. However, this situation has little impact on the US economy and will not lead to a new round of financial crisis. At the same time, Wall Street companies do not need a new round of assistance from the US government. The impact of this banking bankruptcy storm is only limited to community banks in the United States.

So far in 2010, the number of bankruptcies of community banks in the United States has reached 143, which has exceeded the total number in 2009. It is worth noting that, compared with the situation in 2008 and 2009, the average size of bankrupt banks in 2010 was smaller. Therefore, compared with the situation in the past two years, the impact of this wave of bank bankruptcy on the macro-economy is also relatively limited. However, the fact that small banks continue to fail proves that the economic situation of many communities or states in the United States is still very unsatisfactory.

　 Reuters: Republicans Target Health Care Act

Republican members of the US Congress said on Sunday that they planned to launch a comprehensive attack on the health care reform bill proposed by US President Barack Obama from 2011. But these Republican lawmakers also admitted that if the situation changes, their attack on the health care reform bill may also be postponed until after the 2012 presidential election. Paul Ryan, a Republican member who is expected to be elected as the chairman of the House Budget Committee, said that at the Congress meeting held in January 2011, other Republican members will try to block the approval of the funds required for the health care reform bill, and will hold a hearing on the shortcomings of the health care reform bill.

But at the same time, the Republican Party launched a comprehensive attack on the health care reform bill, which may need to wait until the next election cycle. At that time, the two parties will once again fight for control of Congress, and Obama will also work hard for re-election. Ryan said, "The health care reform bill has a great impact on the U.S. economy and government finance, and it has also had a huge impact on the health care industry. We will take all actions to prevent the implementation of the health care reform bill." {page_break}

Financial Times: HSBC Standard Chartered requires to amend Basel III clauses

At present, the major trade financial institutions represented by HSBC and Standard Chartered Bank are lobbying the regulatory authorities to further relax the capital provisions in Basel III, and they warn that if some provisions of Basel III are not modified, global trade may be suppressed or even exhausted.

HSBC, which accounts for a large share of business in the global trade market, said last week that it did not intend to predict the future capital adequacy ratio under the framework of Basel III, mainly because some unfair trade finance regulations in Basel III would have a very adverse impact on its core business.

　 Marketwatch: BP and CNOOC sign an exploration cooperation agreement

British Sky News reported on Saturday that British Prime Minister David Cameron will announce this week that BP has cooperated with China National Offshore Oil Corp., the largest offshore oil manufacturer in China Both parties will sign an agreement on exploration cooperation after reaching an agreement. Sky TV reported that David Cameron will announce the details of this exploration project in South China Sea this week. It is understood that David Cameron will lead a trade delegation to China this week.

BP declined to comment on the news. BP did mention in its announcement last week that the acquisition of Block 42/05 of Nanhai Oilfield in China has been approved by the Chinese government. CNOOC had earlier estimated that the South China Sea holds oil reserves equivalent to 22 billion barrels. In the near future, this sea area has also attracted the interest of many oil companies.

　 CNNMoney: Amazon acquires Quidsi for 540 million dollars

Amazon announced on the 7th of this month that it had reached an agreement with Quidsi, an e-commerce company, to purchase the latter for 540 million dollars. It is understood that Quidsi owns e-commerce websites Diapers.com and Soap.com. The former was launched by Quidsi in January 2005, and the latter by Amazon in early 2010.

It is understood that the specific details of this transaction will be announced by both parties on Monday. The latest data shows that Amazon's purchase price premium is $200 million compared with Quidsi's valuation in the latest round of financing. According to the agreement reached by both parties, the co founders of Quidsi will work for Amazon for many years.

　 The Street: APEC vows to let the market price money

The two-day meeting of senior officials of the Asia Pacific Economic Cooperation (APEC) was held yesterday in Yokohama, Japan. At the same time, the 2010 Yokohama APEC Leaders' Meeting Week also officially kicked off. At this meeting, the topic of hot money flowing into emerging economies became the focus. Finance ministers from APEC countries have agreed to avoid using their own currencies as a trade tool to gain unfair export advantages through competitive devaluation.

In a statement issued at the meeting, APEC members said that they would be committed to building a system to truly enable the market to price the exchange rate of currencies. At the end of the meeting, the delegates said in a unified voice: "APEC members will continue to move towards the establishment of a more market-oriented exchange rate system that reflects economic fundamentals." All emerging economies expressed concern about the US $600 billion treasury bond purchase plan launched by the Federal Reserve last week. They were worried about the devaluation of the US dollar and the rise of asset prices, which made the influx of hot money into emerging economies the focus of the meeting.