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Senate eyes Chinese currency, Buffalo are consumers a bit more gloomy, and First Niagara poised to sell some branches...

From Business Today:

The U.S. Senate is getting serious about Chinese currency manipulation. A measure that would make it easier for the U.S. to place tariffs on imports form China if it is determined the Chinese currency is "misaligned," passed a procedural vote and is certain toChina Currency  pass later this week. The House may or may not take it up. However, the passage in the Senate indicates that the nation's leaders are tired of waiting for the Chinese to let its yuan float on the world currency market. By keeping the value of its currency low, the Chinese government makes its exports cheaper. Advocates for the tariff, including New York Sen. Charles Schumer, say that it is an unfair boost to Chinese manufacturers, and it has cost the U.S. thousands of jobs. Opponents say a trade war with China is not what our economy needs.

Consumers in the Bufffalo Niagara region are a little less willing to spend than they were in the spring. The Siena Research Institute survey shows the good news is that we are a little more upbeat than we LANCASTER SAVE-A-LOT were a year ago. Economists credit the gloomy job scene and frantic and sliding stock market for the dip.








First Niagara Bank is awaiting an antitrust ruling from the U.S. Justice Department before it can sell about any of the upstate branches it is buying from HSBC.FIRST NIAGARA_001  The bank put out a statement on the matter because its previously announced deadline for the branch sales passed.




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