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But the Fed cutting its current rate of 2.25-2.50 percent by a quarter-point will cost banks hundreds of millions of dollars in lower interest-payment revenue. The Fed has been raising rates since late 2015, and that boosted bank profitability as loans became more costly.

But, suppose we just ignore the real data and assume, counterfactually, that Chinese monetary authorities want to manipulate the value of the yuan. Would such a policy be beneficial for China? Absolutely not.

But the challenge also presents many opportunities, he said. Canon expects to boost its Asia revenue to billion by 2020, riding the booming tourism industry as well as growing demand from consumer segments like women, senior citizens and tourists.

But the company is in a crowded marketplace: in addition to competing with other web video platforms, Amazon is also seeking content that might otherwise find a home on a traditional television network. Roy Price, the head of Amazon Studios, said in an interview with The Hollywood Reporter that Amazon has an ace up its sleeve when it comes to attracting great shows.

By Thursday morning the water was receding, but two people remained missing and were feared to have been washed away, said Min Thu, deputy administrator of Yedashe.