Business Across the Globe

This weeks business blog looks to the East where we saw a decision made in China impacting the rest of the world and other big moves impacting global finances.

The East

China decided this week to devalue their currency, the Yuan, by nearly 2% against the U.S. dollar on Tuesday hammering international markets. China's move came after an 8.3% fall in export in July in an attempt to boost exports and compete with regional rivals with lower currencies like South Korea and Japan.

The West

This week we also learned that tech giant Google had a new parent company called Alphabet to house their various companies. We also saw a crack down on an insider trading scam where hackers accessed company press releases ahead of time giving them an unfair advantage and proving that knowledge is power. (www.15minutenews.com) Lastly this week Uber's Hong Kong offices were raided creating another speed bump for the fast growing company.