China's Devaluation Wins IMF Over

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Beijing’s careful management of its currency since its devaluation last month is bolstering China’s bid to get the yuan included in the IMF’s basket of reserve currencies as soon as November, according to people familiar with the matter.

Market Bets Abound, but Where Are the Banks?

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As the recent market gyrations make and break fortunes, banks are on the sidelines, constrained by postcrisis rules on risk.

U.S. Stocks Regain Footing

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U.S. stocks rebounded Wednesday after falling sharply in the previous session on deepening worries about China.

Chinese-Owned Oil Sands Plant to Shut

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The Canadian unit of Chinese state-controlled energy giant Cnooc said it will halt production at an oil-sands plant indefinitely as part of its effort to comply with an order from regulators forcing it to shut down pipelines at the site.

Slumping Commodities Force Glencore to Make a Tough Trade

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Glencore is under fire because of its high debt levels relative to mining peers. It can free up cash in its trading business, but that raises the risk of denting its earnings power.

Novartis Closer to Selling Copy of Amgen's Neupogen

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A federal appeals court in Washington denied Amgen Inc.’s request for a temporary injunction to block Novartis AG from selling a copycat version of the blockbuster drug Neupogen in the U.S.

Puerto Rico's Power Authority Reaches Deal With Bondholders

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Puerto Rico’s power authority agreed to the terms of a restructuring plan with a group of bondholders, who are slated to receive 85% of the value of their bonds.

The Risk Investors Don't Have to Worry About This Time

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Although markets are wobbling, U.S. banks have their feet on the ground.

Fortress Hedge-Fund Executive Bohart Leaves Firm

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Stuart Bohart, president of Fortress Investment’s hedge-fund unit, has left the firm. The departure follows a rough period for the firm’s “macro” trading business.

Wall Street Sales Squads Sit Out Summer

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A deeper-than-usual August decline in bond and equity sales will leave third-quarter earnings for big banks dependent on trading results and the still-thriving M&A market.

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