European Central Bank Executive Board member Yves Mersch said on Wednesday that China’s yuan currency is gaining importance in international trade and investment and might ultimately challenge the U.S. dollar. Speaking in Luxembourg, at a conference on the Chinese yuan, Mersch urged the Chinese government to continue reforming its economy and its financial sector because the yuan was taking the first steps towards establishing itself as an international investment currency. Luxembourg is competing with other European financial centers, including London, for a major role in the growing market for offshore yuan.
When word got out that Procter & Gamble had allowed Amazon.com to set up shop inside its warehouses, the consumer-goods giant found itself in another retailer’s cross hairs. The goal was to make it cheaper and faster for Amazon to fill orders for Pampers diapers and Bounty paper towels. But the move riled Amazon’s bitter rival Target, which reacted by retaliating against P&G, according to people familiar with the matter. Several months ago, the discount chain started to give some P&G products less-prominent placement in stores, including less space on “endcaps”—the coveted shelves at the ends of store aisles where featured items are highly visible to shoppers and tend to sell quickly—people in the industry said.
In its most recent financial quarter Barnes and Noble’s Nook business saw a 50.4% decrease in revenue and 58.2% decrease in device sales over the previous year. In fact, in today’s statement announcing the company’s 2014 third fiscal quarter results, the CEO states a new Nook Color is still in the works. Michael P. Huseby, Chief Executive Officer of Barnes Noble Incorporated, said “The Company is actively engaged in discussions with several world-class hardware partners related to device development as well as content packaging and distribution. As a result, we plan to launch a new NOOK color device in early fiscal 2015.”