IMF admits China's yuan to elite currency club

China's yuan has just won promotion to the premier league of global currencies.
The International Monetary Fund on Monday approved the yuan for inclusion in its elite basket of reserve currencies in what amounts to a major vote of confidence in Beijing's economic reforms.

IMF Managing Director Christine Lagarde said the decision represented "an important milestone" in China's integration into the global financial system.

Read more... http://money.cnn.com/2015/11/30/investing/imf-yuan-reserve-currency/index.html?iid=hp-stack-dom

4 reasons Russia and Turkey can't afford a trade war

A war of words has erupted after Turkey shot down a Russian warplane on Tuesday.

Russian President Vladimir Putin called the downing of the jet a "stab in the back by the terrorists' accomplices." His Turkish counterpart Recep Tayyip Erdogan accused Moscow of deceit, and described Putin's comments as a "huge mistake" in an interview with CNN on Thursday.

Read more... http://money.cnn.com/2015/11/26/news/turkey-russia-economy-trade-sanctions/index.html?section=money_news_economy

Gold price plummets to almost 6-year low

Here's what people aren't buying right now: Gold.

The yellow metal traded as low as $1,051.60 an ounce on Friday, the cheapest price in nearly 6 years.

Gold prices haven't been this depressed since February 2010 -- before the popular show "Downton Abbey" was even on television -- when gold fell under $1,045 an ounce.

Read more... http://money.cnn.com/2015/11/27/investing/gold-price-falls-to-almost-six-year-low/index.html?section=money_news_economy