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August 16, 2015 MONEY (MSM)

Exclusive: Germany's Mann + Hummel buys U.S. peer for $1.3-1.4 billion

German car parts maker Mann + Hummel is buying U.S. firm Affinia’s auto filter unit for $1.3-1.4 billion, a person familiar with the transaction said on Sunday. The deal is the third within a year in which a U.S. auto supplier is bought by a German peer, following ZF’s takeover of TRW and Mahle’s acquisition of Delphi’s air-conditioning unit. Canada’s Magna scooped up Germany’s Getrag in mid-July, while Fiat Chrysler

August 16, 2015 MONEY (MSM)

China yuan to move both ways, more 'adjustments' unlikely: central bank economist

China’s move to weaken the yuan last week could head off further similar “adjustments”, and the yuan is likely to move in both directions as the economy stabilizes, Ma Jun, chief economist at the central bank said on Sunday. The People’s Bank of China (PBOC) shocked global markets by devaluing the yuan (CNY=CFXS) by nearly 2 percent on Aug. 11. The PBOC called it a free-market reform but some saw