Pistachios recalled in U.S. due to salmonella risk
NEW YORK (Reuters) – A California nut grower and processor issued a nationwide recall of pistachios on Tuesday due to possible salmonella contamination, and authorities said consumers should avoid all pistachio products until more information was available.
Get "junk" food out of U.S. schools: PTA, diet group
WASHINGTON (Reuters) – Congress can fight the epidemic of childhood obesity by getting “junk” food out of school stores and snack machines, a parent-teacher group and the American Dietetic Association said on Tuesday.
Canadian auto union won’t reopen GM contract
TORONTO, March 31 (Reuters) – The Canadian Auto Workers
union said on Tuesday it will not reopen its recent concession
agreement with General Motors of Canada , but it would be
willing to look at alternative measures to help reduce the
burden of the company’s so called “legacy costs”.
Judge freezes assets of Madoff sons, executives
BOSTON/NEW YORK (Reuters) – A judge froze the assets of disgraced Wall Street legend Bernard Madoff’s two sons and five executives who ran hedge fund portfolios that funneled money into his Ponzi scheme.
World Bank to Create $50 Billion Trade Fund — U.S. Dollar Not Threatened
No real threat to the U.S. dollar as the world’s reserve currency?
The news ahead of the G20 summit later this week is all about a proposal from China — and backed by Russia — to create a new reserve currency system in the form of special drawing rights on the IMF.
However, despite all of the play it is getting, the idea hasn’t been well-received by most of the economically developed nations. At any rate, reports FX Street, the U.S. dollar is likely safe as the world’s reserve currency:
There looks to be little, if any, credible threat to the US dollar’s status as world reserve currency. Even if talk on SDRs does gain momentum at or after the G20, there’s still little chance of dethroning the dollar without more detailed proposals with legitimate
World Bank President Robert Zoellick said recently, "to create a reserve currency you need to have more than a summit or a meeting, you have to create financial markets where people feel comfortable moving in and out of the currency."
Even though World Bank is planning to create a $50 billion trade fund, it is unlikely to have any sort of impact on reserve currency status. It is merely something designed to help ease the flow of money through the global financial system.
See Also
- U.S. Dollar and Forex Trading
FX market and world currencies
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