Morning in brief: China promises import increases, euro expectations slashed

Interest rate cuts by the European Central Bank are causing euro estimations to drop while Hu Jintao, China’s president, promises to increase global trade by maximising imports.

International

Hu Jintao, China’s president, has promised to increase imports to China, signalling that they may rise to more than £5.1 trillion over the next five years, reports the BBC.

Markets

The latest interest rate cuts from Mario Draghi, president of the European Central Bank, have caused currency analysts to cut their expectations for the euro from $1.40 to $1.32 by the end of 2012, says Bloomberg.

 

Companies

Michael Woodford, ex-chief executive of Olympus, will meet Japanese officials this week in order to lobby for reforms to Japanese boardrooms. Woodford turned whistleblower after discovering one of Japan’s worst accounting frauds at Olympus, according to Reuters.

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