UPDATE 1-Zoellick unanimously approved as World Bank chief

(Reuters) - WASHINGTON, June 25 - The World Bank on Monday
unanimously approved Robert Zoellick as its president after a
controversial two-year term by Paul Wolfowitz, who agreed to
resign over a promotion scandal involving his companion.




Zoellick, former deputy U.S. secretary of state and trade
representative, was the only nominee for the job and will
overlap for a week with Wolfowitz before he offically takes the
reins of the poverty-fighting institution on July 1.


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Canada's Flaherty says more yuan flexibility needed

(Reuters) - China's central bank announced on Friday it would widen the
trading band for the yuan currency to 0.5 percent from 0.3
percent. It also tightened its one-year lending rate and the
one-year deposit rate.




Flaherty also said the United States has consulted Ottawa and
other governments on the best choice to replace World Bank
President Paul Wolfowitz, who resigned late Thursday.


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