The US Treasury said Tuesday that China cannot be ruled a manipulator of its currency despite the yuan's sharp slide since January. But the Treasury warned that the recent fall could "raise particularly serious concerns" if it represents a reversal in Beijing's commitment to a more free-floating yuan. In a twice-yearly report to Congress, which would set sanctions on any country officially branded a "manipulator," the Treasury said the yuan, or renminbi (RMB), "remains significantly undervalued" and that market pressures suggest it could easily move upward if trade in it were more free. "China has continued large-scale purchases of foreign exchange in the first quarter of this year, despite having accumulated $3.8 trillion in reserves, which are excessive by any measure.
By Gabriel Debenedetti WASHINGTON (Reuters) - Americans increasingly think Democrats have a better plan for healthcare than Republicans, according to a Reuters/Ipsos poll conducted after the White House announced that more people than expected had signed up for the "Obamacare" health plan. Nearly one-third of respondents in the online survey released on Tuesday said they prefer Democrats' plan, policy or approach to healthcare, compared to just 18 percent for Republicans. Secretary of Health and Human Services Kathleen Sebelius stepped down last week after overseeing the law's rollout, including the HealthCare.gov website's tumultuous first weeks, when many users were unable to access the system to purchase or research their insurance options.
By Thomas Grove SLAVIANSK, Ukraine (Reuters) - There are important differences between Russia's intervention in Crimea and the events unfolding this week in eastern Ukraine which suggest Moscow has adapted its Crimea playbook and may be pursuing a different outcome. Unlike the Black Sea peninsula, where thousands of Russian troops were already based at ex-Soviet naval facilities leased from Ukraine, there is little clear evidence of Moscow deploying significant forces on the ground in the east of the country. In eastern towns where armed, pro-Russian rebels have seized public buildings and raised the Russian flag, some gunmen identify themselves to journalists as "Russians" - but that says little about citizenship in Russian-speaking parts of Ukraine.
(Reuters) - Tesco Plc's chief executive, Philip Clarke, who is struggling to turn around Britain's biggest retailer, is facing calls to step down from a top shareholder, the Financial Times reported on Tuesday. Earlier this month Chief Financial Officer Laurie McIlwee quit the world's third-largest retailer after Wal-Mart Stores Inc and Carrefour.
Yahoo reported a stronger-than-expected first-quarter profit Tuesday, results hailed by chief executive Marissa Mayer as showing growth in the Web giant's "core" business. Profits were down 20 percent from a year ago with revenues nearly flat for Yahoo, which has been making major shifts under Mayer, a former Google executive. Mayer said Yahoo's mobile service was attracting more than 430 million monthly users. "More than half of Yahoo's total monthly audience joins us on a mobile device," she said.