- China exploring new ways to guide borrowing, lending costs
- Argentina finance minister sees more bondholders taking deal
Here are highlights of the top breaking news stories from around the world on Saturday:
The Taiwan earthquake leveled a number of buildings in the southern part of the island, including an apartment tower whose collapse accounted for most of the known deaths so far. It largely spared the country’s many chip manufacturing plants, including ones that supply Apple and Qualcomm.
The Twittersphere went crazy over ... Twitter, until CEO Jack Dorsey denied a report that the social-media site plans to rejigger its algorithm to make messages appear by popularity rather than chronology. That report infuriated many users who accused it of selling out to emulate Facebook. #RIPTwitter was the top trending hashtag on the site.
China’s central bank said it will explore new mechanisms to guide borrowing and lending costs, another step to recover from slowing growth while moving more toward market-oriented interest rates.
Argentina’s finance minister said he thinks other holdout bondholders may take the deal intended to finally resolve the country’s 2001 default and let it return to the international markets. But the biggest creditor, billionaire Paul Singer’s Elliott Management, is the leader of the holdout group.
One of the biggest secrets in European finance -- how much money the euro area’s 19 central banks have -- is out. The total was 490 billion euros ($547 billion) at the end of 2015, according to a document made public by the European Central Bank.
Iran’s crude-oil sales to Europe will start off at about half the level they had before the 2012 embargo that ended with the agreement to curb the Islamic State’s nuclear program. Initial buyers are in France, Spain and Russia.
Norway’s sovereign wealth fund, the world’s largest, expressed unhappiness with the two-tiered share owning setup that allows the Porsche-Piech family to keep control of Volkswagen AG.
Australian Prime Minister Malcolm Turnbull said he’s not convinced of the benefits of increasing the nation’s goods and services tax.