This week in finance, the G20 summit in Seoul took place, initial sales are in for a popular video game and a very generous cancer patient and her husband gave away $11 million in lottery winnings. In other news, a new record was set for the first 24-hours of a video games sales – and the company whose record was broken doesn't mind a bit. (For more, check out Wall Street History: Dow 1000, Death And Taxes.)
IN PICTURES: Top 7 Biggest Bank Failures

Like A G20
The world was focused on the fifth G20 summit, which took place in Seoul, South Korea, November 11-12. This gathering focused on the financial and economic crisis of 2008, according to According to the official website, the G20 summit will "double its efforts in 2010 to help the world make a successful transition from global recovery to stronger, more sustainable and balanced growth".

One of the outcomes from Friday's discussions was an agreement to review the relationship between banking regulation and trade finance, according to a Reuters article by Jonathan Lynn. The world leaders also discussed the need to facilitate trade finance in lower income countries. There was also a focus on introducing financial models that would help small- to medium-sized enterprises (SMEs) in emerging markets move up from microfinance lenders. (Learn more about how new businesses get funding in The Who, What And How Of Microfinance.)

Host country South Korea is the first non-G8 country to host a G-20 summit. South Korea and the United States were unable to resolve their stalled trade agreement.

Is China Faking It?
A prevailing sentiment in international affairs this week was the attempts to scrutinize China's economic policy. China has been accused many times, and at various volumes, of intentionally suppressing their currency in an effort to boost its exports, some say, at the expense of U.S. jobs. According to an article from The Telegraph, China is equally angry about the recent $600 billion U.S. stimulus, claiming that President Barack Obama is the pot calling the kettle black.

Stocks took a hit late last week, as China's government announced that it would be tightening its economic policy even further to counter inflation.

The Markets
In other market news, an article in the Wall Street Journal reported that stocks have "surrendered all gains since Republicans seized control of the House of Representatives, and the Federal Reserve announced its much-anticipated bond-buying program".

Boeing (NYSE:BA) was the worst Dow performer on Friday, according to the article, dropping 3.5%, while Walt Disney (NYSE:DIS) rose 5.1% to claim top spot. (To learn more, see Why The Dow Matters.)

IN PICTURES: Top 6 Most Tradable Currency Pairs

In Less Technical News
For those less concerned with international finance, Activision Blizzard (Nasdaq:ATVI) reported that first-day sales for "Call Of Duty: Black Ops" totaled an estimated $360 million, beating their own record set last year by "Call Of Duty: Modern Warfare 2". This makes the latest installment in the popular franchise the biggest entertainment launch ever, according to the company.

What would you do if you won the lottery? If you are like elderly Canadian couple, Violet and Allen Large, you give most of it away. The Nova Scotia couple who won $11.25 million say they have everything they need, so they put a small amount (about 2%) away just in case, took care of their family, and donated the rest to various charities, including institutions where Violet has undergone cancer treatment. How's that for truly not caring about personal wealth? (For more, check out The Top 8 Most Generous Canadian Provinces.)

The Bottom Line
The questions surrounding China's currency policies will no doubt continue, as will equal concerns about the U.S. stimulus package and its efficacy. The important thing is that no matter the state of the economy, we will still buy any game that contains the words "Call Of Duty" in its title.

Missed out on last week's news? Read Water Cooler Finance: Lions And Diapers And Dows, Oh My!

Related Articles
  1. Economics

    These Will Be the World's Top Economies in 2020

    Discover the current economic forces that are anticipated to significantly shift the landscape of the world's most powerful economies over the next decade.
  2. Stock Analysis

    The Biggest Oil Producers in Asia

    Learn which Asian countries deliver the most crude oil to market, and discover what companies are the biggest producers in each country.
  3. Stock Analysis

    The 5 Biggest Russian Oil Companies

    Discover the top Russian oil companies by production volume and find out more about their domestic and international business operations.
  4. Forex Fundamentals

    Buying Yuans as a Long-Term Investment: Risks and Rewards

    Examine the current state of the Chinese currency, the renminbi/yuan, and learn whether it is considered a good long-term investment.
  5. Stock Analysis

    Who Are Delta Airlines’ Main Competitors?

    Compare the top competitors of Delta Air Lines, Inc. Take a deeper look into the key drivers of competition in the airline industry.
  6. Investing

    Impact Investing Funds: What are the Risks?

    Impact investing funds can carry risks unique to this asset class, including political risk, currency risk and exit risk.
  7. Economics

    Benefits of China Changing It's One Child Policy

    China's one-child policy is changing, and investors are looking for ways to cash in. The reform might not have the effects that many anticipate, however.
  8. Investing

    China's Top Trading Partners

    A slowdown in China, the largest trading nation in the world, will have significant impacts on major trading partners: the U.S., Hong Kong, and Japan.
  9. Investing News

    High-Speed Rail to Vegas: A Good Bet or Long Odds?

    The Chinese want to build a high-speed rail line from L.A. to Las Vegas. Can it work? Or do other attempts presage failure?
  10. Economics

    The 5 Countries That Produce the Most Solar Energy

    Discover which countries are taking advantage of solar power and how they are implementing systems to use solar as a viable source of energy.
  1. What kinds of costs are included in Free on Board (FOB) shipping?

    Free on board (FOB) shipping is a trade term published by the International Chamber of Commerce or ICC, that indicates which ... Read Full Answer >>
  2. What are the differences between B-shares and H-shares traded on Chinese stock exchanges?

    Equity listings in China generally fall under three primary categories: A shares, B shares and H shares. B shares represent ... Read Full Answer >>
  3. What are the differences between H-shares and A-shares on Chinese and Hong Kong stock ...

    Publicly trade companies in China generally fall under three share categories: A shares, B shares and H-shares. A-shares ... Read Full Answer >>
  4. Why are financial markets considered to be transparent?

    Financial markets are considered transparent due to the fact it is believed all relevant information is freely available ... Read Full Answer >>
  5. What risks does a Foreign Institutional Investor (FII) face?

    The term "foreign institutional investor" (FII) normally refers to large, non-Indian companies investing in Indian financial ... Read Full Answer >>
  6. How does a Foreign Institutional Investor (FII) manage currency risk when investing ...

    A foreign institutional investor (FII) manages currency risks (inflation and exchange rate risk) by using traditional tools ... Read Full Answer >>

You May Also Like

Hot Definitions
  1. Capitalization Rate

    The rate of return on a real estate investment property based on the income that the property is expected to generate.
  2. Gross Profit

    A company's total revenue (equivalent to total sales) minus the cost of goods sold. Gross profit is the profit a company ...
  3. Revenue

    The amount of money that a company actually receives during a specific period, including discounts and deductions for returned ...
  4. Normal Profit

    An economic condition occurring when the difference between a firm’s total revenue and total cost is equal to zero.
  5. Operating Cost

    Expenses associated with the maintenance and administration of a business on a day-to-day basis.
  6. Cost Of Funds

    The interest rate paid by financial institutions for the funds that they deploy in their business. The cost of funds is one ...
Trading Center
You are using adblocking software

Want access to all of Investopedia? Add us to your “whitelist”
so you'll never miss a feature!