Why Would Facebook Want to Snap Up Snapchat?

Nov. 14 (Bloomberg) -- Facebook offered to pay about $3 billion for mobile application Snapchat, a person with knowledge of the matter said, adding to evidence that the company is willing to dig deep into its cash pile to reach young people. Jon Erlichman has more on Bloomberg Television's "Bloomberg West." (Source: Bloomberg)

New Dawn for China as Yuan Joins Majors
25:49 - The IMF will add the yuan to its basket of reserve currencies, an international stamp of approval of the strides China has made integrating into a global economic system dominated for decades by the U.S., Europe and Japan. The yuan weakened in offshore trading amid speculation China’s central bank will rein in intervention. PBOC Deputy Governor Yi Gang said at a briefing the long-term goal is for very few interventions, adding that bigger two-way fluctuations are normal.
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