Receive Breaking News updates as they occur
By Kevin Yao, Nathaniel Taplin and Lu Jianxin BEIJING/SHANGHAI (Reuters) - China's central bank is willing to let the yuan fall to 6.8 per dollar in 2016 to support the economy, which would mean the currency matching last year's record decline of 4.5 percent, policy sources said. The yuan is already trading at its lowest level in more than five years, so the central bank will aim to ensure a gradual decline for fear of triggering the sort of capital outflows that shook the economy earlier this year and criticism from trading partners such as the United States, said government economists and advisers involved in regular policy discussions. Presumptive U.S. Republican Presidential nominee Donald Trump already has China in his sights, saying on Wednesday he would direct his treasury secretary to label China a currency manipulator if elected in November.
SEOUL, South Korea (AP) — Netflix plans to expand its Asian offerings to subscribers around the world by tapping more creators in the region, including "Snowpiercer" director Bong Joon-ho, its chiefs said Thursday.