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Wikinews:Briefs/Business/December 4, 2005

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Sunday, December 4, 2005

These are short blurbs about current events in the business world.

G7 keeps pressure on China over currency

Flag of China
Flag of China

Financial ministers and central bank governors from the G7 countries are pressuring China to make it's exchange rate more flexible. "We expect that further flexible implementation of China's currency system would improve the functioning and stability of the global economy and the international monetary system," they said in a written statement. Separately US Treasury Secretary John Snow said "China's new exchange rate system has operated with too " He remarked "This rigidity constrains exchange rate flexibility in the region and thus poses risks to China's economy and the global economy."

Sources

Virgin Mobile in talks to merge with NTL

Virgin Mobile logo
Virgin Mobile logo

Virgin Mobile is in merger talks with the cable operator NTL Inc. The deal will create UK's first company able to provide mobile, landline, Broadband, and TV services. Richard Branson, who holds 72% of Virgin Mobile, will own 14% of the new company to be called Virgin. The company will pose a strategic threat to Sky Broadcasting, which is 37% owned by Rupert Murdoch's News Corporation.

Sources

U.S. Gas prices drop an average of 11 cents

Gas pump
Gas pump

Retail gas prices in the United States have dropped an average of 11 cents in the past two weeks according to the Lundberg Survey. The Survey, released today, says the weighted average price for all three grades fell to $2.16 a gallon as of December 2. The semimonthly survey surveys 7,000 gas stations nationwide. The lowest average price for regular unleaded was $1.89 a gallon in Tulsa, OK. The highest price was $2.55 in Honolulu. Gas prices have fallen about 88 cents a gallon since September according to Lundberg.

Sources

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This page is archived, and is no longer publicly editable.
Articles presented on Wikinews reflect the specific time at which they were written and published, and do not attempt to encompass events or knowledge which occur or become known after their publication.

Got a correction? Add the template {{editprotected}} to the talk page along with your corrections, and it will be brought to the attention of the administrators.

Please note that due to our archival policy, we will not alter or update the content of articles that are archived, but will only accept requests to make grammatical and formatting corrections.

Note that some listed sources or external links may no longer be available online due to age.

The text of this article is licensed under the terms of the Creative Commons Attribution 2.5 License
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