The International Monetary Fund welcomed China's yuan into its elite reserve currency basket on Monday, recognizing the ascendance of the Asian power in the global economy. The yuan, also known as the renminbi, will join the US dollar, euro, Japanese yen and British pound next year in the basket of currencies the IMF uses as an international reserve asset. The decision by the IMF executive board solidifies China's ambition to see the government-controlled yuan achieve global status as one of the world's top currencies alongside the United States, Europe and Japan.
NASHVILLE, Tenn. (AP) — A new union vote is scheduled for this week at the Volkswagen plant in Tennessee, but so far it's been largely devoid of the public threats, promises and handwringing that surrounded last year's election at the factory.
Gonzalo Higuain struck in either half as Napoli toppled 10-man Inter Milan 2-1 in a spectacular clash at the San Paolo to go top of the Serie A table on Monday. Inter were shell-shocked by the lightning start of Maurizio Sarri's men and their hopes of staying top suffered a blow when Yuto Nagatomo saw red a minute before the interval. Inter drop to second with Fiorentina, held 1-1 at Sassuolo earlier Monday, a point further off the pace in third.