Currency moves in China and Google’s Alphabet fleet

China started devaluing its tightly controlled currency this week. Following the decision in the world’s second biggest economy, we focus on currencies, looking at the reasons and the consequences of changes in foreign exchange rates. In this edition we take a closer look at floating and fixed systems to see the difference between depreciation and devaluation and to finally get to the reasons, purposes and consequences of currency moves. In addition, our IT-dedicated segment is entirely focused on Google’s surprising reorganization. Co-founders Larry Page and Sergey Brin decided to create a new holding company, Alphabet, to offer more visibility into ambitious new businesses like driverless cars. The “mothership” of this newly-created fleet, the search engine, will be handed over to Sundar Pichai, the company’s current number two. Who’s the new “Mr Google”? No need for Internet queries, Business Line has got you covered!