Page 25 - ARUBA TODAY

BUSINESS Tuesday 16 January 2018
A25

Dollar’s fall weighs on global stocks as US shut for holiday

many stocks in Europe and oversight of financial risks.
Japan, which are export- The notice took aim at pre-
focused economies. The venting banks from shifting
dollar slipped to 110.56 funds into stocks, property
Japanese yen on Monday investments, local govern-
from 111.04 yen the previ- ment financing vehicles
ous trading day. and industries that violate
The euro strengthened to national policies on pol-
$1.2263 from $1.2199. The lution or excess capacity,
British pound hit $1.3820, among other areas of con-
its highest level against cern.
the dollar since before the OIL: Energy prices rose fur-
Brexit referendum in June ther as the fall in the dollar
2016, before edging back made crude oil cheaper
to $1.3800, up from $1.3725 for international investors.q
the previous day.
ASIA’S DAY: Asian markets
except China mostly fin-
ished with modest gains.
Japan’s Nikkei 225 rose 0.3
percent to 23,714.88 and
South Korea’s Kospi added

A man walks by an electronic stock board of a securities firm in Tokyo, Monday, Jan. 15, 2018. 0.3 percent to 2,503.73.
Asian stock markets edged higher on Monday after Wall Street’s strong finish last week. The U.S. Hong Kong’s Hang Seng
dollar weakened against most major currencies, including the Japanese yen. index dipped 0.2 percent
(AP Photo/Koji Sasahara) to 31,338.87 and China’s
By YOUKYUNG LEE FTSE 100 fell 0.1 percent to far this year. Some econo- Shanghai Composite In-
AP Business Writer 7,768.12 while Germany’s mists attribute it to optimism dex slipped 0.5 percent to
SEOUL, South Korea (AP) DAX dropped 0.3 percent about economic growth in 3,410.49.
— Global stocks mostly to 13,209.37 and France’s regions like Europe and Ja- Australia’s S&P/ASX 200
fell on Monday as the dol- CAC 40 ended the day pan, where central banks inched up 0.1 percent to
lar weakened across the roughly unchanged at are getting closer to easing 6,077.10.
board, pinching the out- 5,519.41. U.S. markets re- off their bond-buying stimu- CHINA RISK: Shares slipped
look for export-driven re- mained closed for Martin lus programs, which have in Shanghai and Shenzhen
gions like Europe. The U.S. Luther King Jr. Day. weighed on their curren- after the China Banking
market remained closed DOLLAR: The dollar fell in cies in the past. Regulatory Commission is-
for a holiday. value against most curren- A stronger euro and yen, sued a notice over the
KEEPING SCORE: Britain’s cies, extending its losses so in turn, tend to weigh on weekend calling for stricter

Citigroup says it will use raises to narrow pay gap

NEW YORK (AP) — Citi- women who work full time holders rejected a resolu- ing the company was mak-
group says it will slightly in the U.S. is about 80 per- tion requesting that the ing progress in becoming
raise pay for women and cent of men in similar jobs, company report on its poli- more diverse. They said a
minorities to close a gap a difference of more than cies and goals to reduce report on pay equity would
with men and whites. $10,000, the Department of the pay gap for women. be costly and wouldn’t
The big bank said an inter- Labor says. Citigroup directors op- add anything meaningful
nal survey showed women Last April, Citigroup share- posed the resolution, say- to the diversity effort.q
get 99 percent as much
as men in similar jobs and
minorities in the U.S. get
99 percent as much as
whites. Those are smaller
gaps than in the overall
workforce.
The bank’s head of human
resources said Monday it
told employees it will raise
compensation this year to
help close the gaps.
The bank didn’t provide
figures on average salaries
or say how much the raises
will cost.
The executive, Michael
Murray, said Citigroup Inc.
conducted a survey in the
U.S., the U.K. and Germa-
ny. He said the company
is dedicated to pay equity
to attract top talent.
The median annual pay for