trade

March 6 (Asia Today) — China’s central bank governor said Thursday that Beijing has no intention of weakening the yuan to improve trade competitiveness, emphasizing confidence in the stability of the country’s currency.

Pan Gongsheng, governor of the People’s Bank of China, made the remarks during an economic press conference at the annual session of China’s National People’s Congress in Beijing.

Pan said recent movements in the yuan against the U.S. dollar were influenced by several factors, including China’s economic recovery, fluctuations in the U.S. dollar index and seasonal increases in corporate foreign exchange settlements.

“The current exchange rate of the yuan against the dollar remains within the mid-range seen in recent years,” Pan said. “China neither needs nor intends to gain trade competitiveness through currency depreciation.”

He added that the central bank plans to maintain an “appropriately accommodative” monetary policy in 2026, including the flexible use of tools such as reserve requirement ratio reductions and interest rate adjustments.

Demand for yuan-denominated financial instruments has continued to grow. The issuance of yuan-denominated bonds over the past 14 months reached about 1.365 trillion yuan ($200 billion), the highest level on record, according to financial market data.

Analysts say the increase reflects relatively low interest rates in China and the gradual expansion of yuan settlement in international transactions.

Offshore yuan bonds known as dim sum bonds have grown particularly quickly. About 103 billion yuan ($15 billion) worth have been issued so far this year, roughly double the amount recorded during the same period last year.

So-called panda bonds, which are yuan-denominated bonds issued in China by foreign companies, have also expanded, with 51.4 billion yuan ($7.5 billion) issued this year.

Overseas yuan lending reached 425 billion yuan ($62 billion) in 2025, the highest level on record.

Despite the growing use of the currency, analysts say the yuan still faces obstacles before it can rival the U.S. dollar as a major global reserve currency.

China’s leadership, including President Xi Jinping, has promoted the internationalization of the yuan as part of a broader effort to strengthen its role in global finance.

— Reported by Asia Today; translated by UPI

© Asia Today. Unauthorized reproduction or redistribution prohibited.

Original Korean report: https://www.asiatoday.co.kr/kn/view.php?key=20260306010001817

The Ducks bolstered their blueline Thursday night in anticipation of ending their long playoff drought, acquiring veteran defenseman John Carlson in a trade with the Washington Capitals.

In exchange for Carlson, the Ducks will send a conditional first-round pick (2026 or 2027 draft) and a third-round pick (2027) to Washington.

Carlson, who played an integral part of the Capitals’ 2018 Stanley Cup win and is a former Norris Trophy runner-up for the NHL’s top defenseman, should bring a veteran presence to a young Ducks team that is on pace to make the playoffs for the first time since 2017.

“John Carlson brings leadership, character, a high hockey IQ and a presence to our lineup,” Ducks general manager Pat Verbeek said in a statement. “We are very excited to add a Stanley Cup winner to complement our group and make a big push down the stretch.”

Set to become a free agent this offseason, Carlson had 10 goals and 46 points in 55 games with the Capitals this season. He led all Washington skaters in ice time, averaging more than 23 minutes per game.

Carlson, however, has not played since Feb. 5 because of a lower-body injury. It’s unclear when he might make his Ducks debut, but was practicing with the Capitals before the trade. When he does get into the lineup, he’ll join Jacob Trouba and Radko Gudas as part of a formidable right-side defensive trio for the Ducks.

In 1,143 career games over 17 seasons entirely with Washington, Carlson recorded 771 points (166 goals, 605 assists) — ranking him 24th all-time among NHL defensemen. He also had 78 points in 137 playoff games. A two-time All-Star, Carlson played for the U.S. at the 2014 Sochi Olympic Games and in the 2016 World Cup of Hockey. He also scored the winning goal for the U.S. in the 2010 World Junior Championship.

The Ducks are second in the Pacific Division and have won 13 of their last 16 games. They face the Montreal Canadiens on Friday and the St. Louis Blues on Sunday before embarking on a four-game Canadian road trip.

The Carlson deal was finalized roughly 14 hours before Friday’s NHL trade deadline at noon PST.

Rams playing ‘Let’s Make a Deal’

From Gary Klein: Les Snead, no stranger to blockbuster trades involving first-round picks, might be on the verge of doing it again.

On Wednesday, the Rams general manager appeared to be getting closer to addressing his team’s most pressing need by nearing a possible agreement with the Kansas City Chiefs to trade for cornerback Trent McDuffie, a person with knowledge of the situation said. The person requested anonymity because an agreement had not been finalized.

According to multiple reports, the Rams would send a first-round pick — the 29th overall — and fifth- and sixth-round picks in this year’s draft and 2027 seventh-round pick to the Chiefs in exchange for McDuffie.

McDuffie, 25, is a former Anaheim Servite and Bellflower St. John Bosco High star who was a first-round pick by the Chiefs in 2022. He was an All-Pro in 2023 and has three career interceptions. He is due to earn $13.6 million this season in the final year of his rookie contract.

The acquisition of McDuffie would strengthen a cornerback group that was often a liability last season. During four seasons with the Chiefs, McDuffie forced eight fumbles, three interceptions and broke up 34 passes.

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Struggling USC loses sixth in a row

Zoom Diallo scored a career-high 26 points, Hannes Steinbach added 22 with a career-best 24 rebounds, and Washington rolled past USC 91-72 on Wednesday night.

Washington took the lead for good with 12:31 remaining. A 13-0 run that started with 4:33 to play pushed the Huskies’ lead to 85-65 with about two minutes left. Diallo scored on a dunk and Nikola Dzepina added a three to end the surge.

The Huskies (15-15, 7-12 Big Ten) swept the season series against USC, and have won three of their last five. The Trojans (18-12, 7-12) have lost six straight and 11 of their last 17 games.

Alijah Arenas scored 19 points and Ezra Ausar had 17 for USC. Jacob Cofie and Jordan Marsh added 14 points apiece.

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USC box score

Big Ten standings

Opportunity is knocking for Alex Freeland

From Jack Vita: For 24-year-old Alex Freeland, the time is now.

After the switch-hitting middle infielder enjoyed a cup of coffee in the big leagues last season, he’s trying to break camp with the Dodgers and get increased playing time at second base with veteran Tommy Edman expected to be on the injured list as he works his way back from right ankle surgery.

Freeland, who played 29 games with the Dodgers last season, and second-year utility man Hyeseong Kim, who played 71 games and was on the postseason roster, are among those vying for playing time at the start of the season, with veteran Miguel Rojas and and nonroster invite Santiago Espinal also in the mix.

Kim, who started Cactus League games at second base and center field, recently departed for the World Baseball Classic as he competes for Team South Korea, opening a door for Freeland to get more reps in the heart of the Cactus League season.

“Opportunity is present, so I’m trying to make the most of it,” Freeland said. “It sucks that Tommy’s not ready and he won’t be ready for the beginning of the season. He’s a big part of this team, so I wish him a super speedy recovery and I hope that he gets out there as quickly as possible. But yeah, with Hyeseong being gone, I am getting more reps at second and short, so I’m just trying to make the most of them.”

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Lakers hope win sparks greatness

From Thuc Nhi Nguyen: A three-pointer clanked off the side of the backboard. Four players were whistled for technical fouls. Passes from the Lakers and the New Orleans Pelicans sailed out of bounds.

The errors added up to an ugly game. The result, however, was beautiful for the Lakers, who notched a 110-101 comeback win over the Pelicans on Tuesday night at Crypto.com Arena. They clawed back from an eight-point deficit in the fourth quarter to win their third consecutive game, showing the kind of resolve coach JJ Redick said he hasn’t seen since November when the Lakers started 15-4.

“Nights like this can change the trajectory for teams and players,” guard Marcus Smart said. “So hopefully this win and tonight, in the way, the fashion that we won it, kicks our confidence up.”

Here are three takeaways from the game:

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Clippers beat the Pacers

Kawhi Leonard scored 29 points, Bennedict Mathurin scored 23 on 8-for-11-shooting, and the Clippers won their third in a row, 130-107 over the Indiana Pacers on Wednesday night.

Brook Lopez had 17 points for the Clippers while Darius Garland had 12 in his first home game since being acquired in a trade from the Cleveland Cavaliers last month.

Pascal Siakam had 29 points in his return after sitting out three games with a left wrist sprain to lead Indiana, but the Pacers lost their seventh in a row and fell to the bottom of the Eastern Conference standings with a 15-47 record.

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Clippers box score

NBA standings

Ducks defeat Islanders

Cutter Gauthier scored twice in a span of just over three minutes in the first period, backup goalie Ville Husso stopped 42 shots and the Ducks beat the New York Islanders 5-1 on Wednesday night.

Beckett Sennecke, Ryan Poehling and Frank Vatrano also had goals to help the Ducks to their 13th win in 16 games.

David Rittich had 20 saves for the Islanders, who had their five-game winning streak snapped despite outshooting the Ducks 43-25. Anders Lee scored the 304th goal of his career, tying Clark Gillies for the fourth-most in franchise history.

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Ducks summary

NHL standings

Lou Holtz dies

Lou Holtz never met an opponent that couldn’t beat him. Somehow, he squeaked out nearly 250 wins and a national title while cementing himself both as one of the most lovable and unlikable characters in college football — a one-of-a-kind iconoclast in a profession brimming with originals.

The pint-sized motivator who restored greatness at Notre Dame and demanded it everywhere else he went died in Orlando, Fla., Notre Dame announced Wednesday. He was 89.

Spokeswoman Katy Lonergan said the family did not provide a cause of death.

“Notre Dame mourns the loss of Lou Holtz, a legendary football coach, a beloved member of the Notre Dame family and devoted husband, father and grandfather,” Notre Dame president Rev. Robert A. Dowd said in a statement.

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This day in sports history

1924 — Frank Carauna of Buffalo becomes the first to bowl two straight perfect 300 games. Carauna throws five strikes to open his third game, giving him 29 straight strikes.

1931 — WGL radio broadcasts the first game of the American Basketball League championship series. The Brooklyn Visitations beat the Fort Wayne Hoosiers 14-10 in the first pro basketball game to be broadcast live on radio.

1960 — Carol Heiss wins the ladies title at the World Figure Skating Championships in Vancouver.

1965 — Ernest Terrell wins the world heavyweight title with a unanimous 15-round decision over Eddie Machen in Chicago.

1973 — New York Yankee pitchers Fritz Peterson and Mike Kekich announce that they’ve swapped wives and children.

1981 — Scott Hamilton wins the men’s title at the World Figure Skating Championships held in Hartford, Conn.

1985 — Mike Bossy of the New York Islanders scores his 50th goal, becoming the first NHL player to score 50 goals in eight consecutive seasons.

2004 — Ottawa and Philadelphia combine for an NHL-record 419 penalty minutes, with the Flyers setting a single-team mark with 213. There are five consecutive brawls in the final two minutes, including one involving both goalies. The previous record for penalty minutes was 406 by the Minnesota North Stars and Boston Bruins in 1981. The Flyers beat the Senators 5-3.

2016 — Makai Mason scores 22 points to lead Yale to a 71-55 victory over Columbia, clinching the Bulldogs’ first NCAA Men’s Tournament bid since 1962. The Bulldogs shared the Ivy championship last year with Harvard, but lost the playoff game with the Crimson. The win ends the second longest NCAA drought of any team that has made the tournament previously.

2016 — Clemson beats Boston College 66-50, completing the Eagles’ winless regular season in Atlantic Coast Conference play. The Eagles (7-24, 0-18) are the first men’s ACC team to go winless in their conference regular-season games since Maryland went 0-14 in 1986-87. Worse, BC’s football team went 0-8 in league play, making the school the first in ACC history to go winless in both sports in the same academic year.

Compiled by the Associated Press

Until next time…

That concludes today’s newsletter. If you have any feedback, ideas for improvement or things you’d like to see, email me at houston.mitchell@latimes.com. To get this newsletter in your inbox, click here.

Les Snead, no stranger to blockbuster trades involving first-round picks, might be on the verge of doing it again.

On Wednesday, the Rams general manager appeared to be getting closer to addressing his team’s most pressing need by nearing a possible agreement with the Kansas City Chiefs to trade for cornerback Trent McDuffie, a person with knowledge of the situation said. The person requested anonymity because an agreement had not been finalized.

According to multiple reports, the Rams would send a first-round pick — the 29th overall — and fifth- and sixth-round picks in this year’s draft and 2027 seventh-round pick to the Chiefs in exchange for McDuffie.

McDuffie, 25, is a former Anaheim Servite and Bellflower St. John Bosco High star who was a first-round pick by the Chiefs in 2022. He was an All-Pro in 2023 and has three career interceptions. He is due to earn $13.6 million this season in the final year of his rookie contract.

On Tuesday, during a videoconference with reporters, Snead was asked about the secondary.

“At that point it’s figuring out, is there an All-Pro that you could add?” Snead said. “That could be nice, but if there’s not an All-Pro, is there a player out there that adds an edge based on what we’re trying to accomplish?”

The last time Snead traded a first-round pick for a cornerback was in 2019, when he sent two first-round picks and a fourth-round pick for Jalen Ramsey. Two years later — after trading Jared Goff and two-first round picks to the Detroit Lions for Matthew Stafford, the Rams won Super Bowl LVI at SoFi Stadium.

In 2018, Snead traded a fourth-round pick and a second-round pick in 2019 for Chiefs cornerback Marcus Peters, one of several major moves that helped the Rams advance to Super Bowl LIII.

Kansas City Chiefs cornerback Trent McDuffie plays against the Dallas Cowboys on Nov. 27.

(Matt Patterson / Associated Press)

The acquisition of McDuffie would strengthen a cornerback group that was often a liability last season. During four seasons with the Chiefs, McDuffie forced eight fumbles, three interceptions and broke up 34 passes.

Emmanuel Forbes Jr. is under contract, and the Rams must make a decision by May 1 whether to exercise a fifth-year option on the former 2023 first-round pick by the Washington Commanders.

Cornerbacks Cobie Durant and Roger McCreary and pending free agents, as are Ahkello Witherspoon and Derion Kendrick.

If terms are finalized, the trade would not become official until the start of the new league year on March 11. In addition, the Rams would have nine picks in this year’s draft, including the 13th overall selection they acquired in a 2025 draft-day trade with the Atlanta Falcons.

“We’re going to cut off all trade with Spain.” Donald Trump targeted Spain in an Oval Office tirade, complaining about Madrid’s refusal to let its bases be used for attacks on Iran. He also joined the German chancellor in saying Spain doesn’t spend enough on its military.

March 2 (UPI) — Canada and India agreed on several deals Monday including a 10-year nuclear energy deal and a goal to reach $50 billion in trade in the next five years.

The agreements were the result of Canadian Prime Minister Mark Carney’s visit with Indian Prime Minister Narendra Modi in Delhi, establishing what the two leaders called a “new partnership,” CBC reported.

“This is not merely the renewal of a relationship,” Carney said during a joint appearance with Modi. “It is the expansion of a valued partnership with new ambition, focus and foresight — a partnership between two confident countries charting our course for the future.”

Modi credited Carney for new cooperation between the two countries.

Diplomatic relations between Canada and India became strained in 2023 after former Canadian Prime Minister Justin Trudeau suggested India was linked to the assassination of Sikh separatist leader Hardeep Singh Nijjar near Vancouver, British Columbia. In the wake of the allegations, multiple Indian diplomats were expelled from Canada.

“This vision inspires us to move forward in every field. Unlocking the full potential of economic cooperation is our priority,” Modi said.

Carney said the two countries plan establish a free trade deal by the end of 2026 with the aim of taking the strain off U.S. tariffs, the BBC reported. The deal would ease tariffs between Canada and India.

Carney and Modi ultimately signed five memorandums of understanding, the CBC reported, including a $2.6 billion deal in which Canadian-based Cameco would supply about 22 million pounds of uranium to India for nuclear energy between 2027 and 2035.

Other deals focus on artificial intelligence, supercomputing, and semiconductors as well as plans to jointly host a renewable energy summit. Indian firm HCL Technologies plans to open two new AI centers in Canada and expand one in Vancouver, while OCT Therapies & Research plans to manufacture medicines in New Brunswick.