London To Become Hub For China’s Yuan

Whereas most books on managing people approach the subject from the perspective of a manager of an idealized organization, Becoming a Better Boss takes a real-world approach, looking at the topic from the perspective of an employee in a real-world organization. Focusing on the choices individual employees make every day in getting work done, this book reinvents the practice of management one employee at a time. Birkinshaw stresses the importance of taking management seriously, reveals where management practice often goes wrong, and dives deeply into the worldview of employees. He then explores the common personal biases and frailties of managers and discusses the vital importance of experimentation to overcome the limitations and idiosyncrasies of a particular organization. Throughout, he supports his assertions with case studies from a wide and varying range of management experiments and situations at real companies. Between the stress of deadlines and the demands of today’s business environment, it’s easy for managers to lose sight of the importance of people management. Becoming a Better Boss not only shows managers how to lead effectively, but why doing so is vitally important to every organization’s success. To become a better boss, Birkinshaw recommends leaders ask themselves these tough questions: Do I invest my time in things that help others succeed? Do I invest in projects that will help the company in the long run, even if I won’t be around to get any credit for their success? Am I prepared to try out a new way of working that may fail, even if I risk looking foolish?

London market edges higher over US debt deadline talks

Investors in London will be allowed to apply for licenses to invest yuan directly into China, Osborne announced. He said the Chinese central bank set an initial quota for London of 80 billion yuan ($12.7 billion). Tuesday’s announcement put London ahead in the race by global financial centers to gain a share of yuan-denominated business as Beijing gradually expands use of its currency for trade and investment. Hong Kong was the first financial center outside mainland China where trading of yuan was authorized. London banks have traded yuan since early last year. “Now London is a major global offshore center for the trading of the Chinese currency,” Osborne told reporters. Britain and China signed an agreement in June to have their central banks swap 200 billion yuan for 20 billion pounds. The European Central Bank and Beijing announced a similar agreement this month to swap 350 billion yuan for 45 billion euros. That suggested Frankfurt also might be in to become a center for business denominated in yuan. Also Tuesday, Osborne said China’s state-owned banks will be allowed to expand their operations in Britain by setting up wholesale branches. Cameron was forced to abandon his April trip after China said he would not be able to meet senior officials. Some lower-level meetings also were put on hold.

While You Slept, This Woman Took Selfies in the Plane Lavatory

The benchmark FTSE 100 index added 0.64 percent to 6,549.11 points. “US lawmakers are finally making headway on a deal to avert financial destruction before Thursdayas D-day deadline, propping up market sentiment in overnight trade across US and Asian share markets and pulling up Europe,” said Ishaq Siddiqi, market strategist at ETX Capital traders. Senate Republicans are scheduled to convene Tuesday at noon to review a plan being hammered out between Senate Majority Leader Harry Reid and Republican Minority Leader Mitch McConnell that would raise the US government’s borrowing limit and end a partial federal government shutdown. “I’m very optimistic we will reach an agreement that’s reasonable in nature this week to reopen the government, pay the nation’s bills and begin long-term negotiations to put our country on sound fiscal footing,” Reid said at the conclusion of Monday’s Senate session. “We are not there yet, but tremendous progress” has been made, he said. If Congress does not raise the $16.7 trillion debt ceiling by Thursday, the US government will begin to run out of money and could start defaulting on its obligations for the first time in history. Back on the trading floor, Lloyds Banking Group (LBG) was the most traded stock by volume, with 124.19 million units changing hands, followed by telecoms giant Vodafone which saw 68.76 million units switch owners. Miner Rio Tinto was the star performer rising 4.25 percent to stand at 3215 on strong third quarter results. Petrofac was also in demand and was up 3.68 percent to 1,410 pence. Burberry was the biggest faller, slipping 7.63 percent to 1464 pence. The British luxury fashion group retreated after its chief executive Angela Ahrendts is quitting her role to become head of retail at Apple. The US technology giant Apple said in a statement that Ahrendts would oversee the “strategic direction, expansion and operation” of its retail and online stores. aI am thrilled that Angela will be joining our team,a said Apple chief executive Tim Cook. aShe shares our values and our focus on innovation, and she places the same strong emphasis as we do on the customer experience.