Financial news on April 15th, 2012

Business and Financial news
Book Publishing’s Real Nemesis

An antitrust suit may provide short-term price reductions on e-books, but once the competition is flattened, Amazon is likely to resume its monopolistic ways. Read more..

By DAVID CARR - The New York Times

China Adjusts Currency Trading Rules

Chinese government announces that it will allow the renminbi to vary more in value against the dollar during each day’s trading, but gives no hint that it will accept the Obama administration’s demands to allow the currency to show a longer-term trend of appreciation against the dollar. Read more..

By KEITH BRADSHER - The New York Times

Daring to Cut Off Amazon

In February, the Educational Development Corporation said it would remove its titles from Amazon, more evidence of the tumult over who gets to decide how much a book costs. Read more..

By DAVID STREITFELD - The New York Times

Google Is Faulted for Impeding U.S. Inquiry on Data Collection

Federal regulators ordered a $25,000 fine on the search giant, saying it “deliberately impeded” an investigation into the sweeping up of personal data by cars being used to map streets. Read more..

By DAVID STREITFELD - The New York Times

Luxury Stores Pull Out Mandarin Phrase Books to Make the Sale

High-end US retailers have begun catering to Chinese shoppers, who tend to spend more on luxury products abroad than they do at home; exchange rates and high taxes in China make luxury products about a third cheaper in the United States and elsewhere; services offered to Chinese shoppers range from brochures printed in Mandarin to private runway shows. Read more..


See what else happened on April 15th, 2012