- Reuters/Goran Tomasevic
Here is what you need to know.
The G-20 deals exporters a blow. Central-bank governors of the 20 biggest economies dealt a blow to Germany and other export countries when they removed a pledge from the communique to keep global trade free and open. Reuters reports they instead said that “the G-20 would work together to strengthen the contribution of trade to their economies.”
Bitcoin crashes 20%. Bitcoin tumbled 20% over the weekend, hitting a low of $970, following a Wall Street Journal report that a disagreement among developers could result in the cryptocurrency splitting in two.
Chinese home prices are climbing again. Home prices in China increased in 56 of the 70 cities tracked, edging up 0.3% nationally, data released by the National Bureau of Statistics showed on Monday.
Denmark is out of foreign-currency debt. The Danmarks Nationalbank said in a statement: “On 20 March 2017, the Danish central government will repay its last loan in foreign currency, totaling 1.5 billion dollars. Thus for the first time in at least 183 years the Danish central government has no foreign currency loans.”
Deutsche Bank is raising cash. The German investment bank will raise 8 billion euros ($8.6 billion) by selling shares at a 35% discount to last week’s closing price, Bloomberg reports, citing a statement released Sunday.
Uber’s president is out. Jeff Jones has stepped down as president at Uber, saying it was “not the situation he signed on for.” Recode says Jones’ departure is a result of the number of scandals at the company.
Authorities search the offices of Volkswagen’s CEO. About 100 officials searched the offices of Volkswagen CEO Matthias Mueller and 46 other employees in connection with the company’s emissions-cheating scandal, Reuters says, citing Bild am Sonntag.
Unilever wants to sell assets. The company is planning to sell the Flora margarine and Stork butter brands for 6 billion pounds, Reuters reports, citing British newspapers.
“Beauty and the Beast” has a huge weekend at the box office. Disney’s movie raked in $170 million, making it the seventh-highest opening weekend of all time.
Stock markets around the world are mixed. Hong Kong’s Hang Seng (+0.8%) paced the advance in Asia, and France’s CAC (-0.5%) leads the losses in Europe. The S&P 500 is set to open down 0.1% near 2,375.