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United States Secretary of the Treasury Jack Lew said in Beijing on Monday that it is critical for China to move towards a more market-determined exchange rate. According to Lew, the United States supports China's efforts to transform the country economy. Lew, who is American government administrator and attorney, had a meeting with China's vice premier Wang Yang.

Lew further said that it is critical that China continues to move towards a market-determined exchange rate and a more transparent exchange rate policy. He further said that US is looking forward to work with China as it deepens its financial reforms.

Dufry AG provided details about its plans for its takeover of World Duty Free SpA (WDF). The company stated it has planned to consolidate its position as the biggest player in the sector. On Monday, Switzerland headquartered company announced that it has expected to raise about 2.1 billion euros through a rights issue of new stock. The company also said that it expects to raise about 1.5 billion euros through long-term debt instruments.

According to reports, the combined companies will have market share of about 25% and the projected annual sales about $9 billion. WDF has more than 490 stores in about 98 airports, including London's Heathrow and Gatwick.

Project of Matthew Maciejewski, J.F.K Middle School student was awarded first place in the Sustainable Resources and Practices category at the 67th annual Science and Engineering Fair at Quinnipiac University in Hamden.

Matthew was honored as the finalist for his project, ‘Pore’ My Way to Cleaner Water and received $500 and a trophy for his achievement in the category.

The Capital Area Science and Engineering Fair involved forty-six middle and high schools from several counties in the region. The local middle schools included St. Theresa, Good Shepherd, Eagle View, Greenwood, Bermudian Springs, Camp Hill and Mechanicsburg, along with St. Joseph School, of Mechanicsburg.

The US space agency NASA has announced that it will test a flying saucer spacecraft later this year. In June 2015, NASA’s Low-Density Supersonic Decelerator (LDSD) project will fly its rocket-powered, saucer-shaped test vehicle into near-space from the Navy’s Pacific Missile Range Facility on Kauai, Hawaii.

The public is invited to tune in to an hour-long live, interactive video broadcast at NASA’s Jet Propulsion Laboratory in Pasadena, California, where this near-space experimental test vehicle is being prepared for shipment to Hawaii.

A United Nations climate conference is scheduled at Paris in December with an aim to cut greenhouse gas emissions. The conference is intended to result in a post-2020 global agreement on reducing greenhouse gas releases.

It is expected that the United States will make announcement about its post-2020 emissions targets Tuesday. The US had already told about its aims in announcing a climate deal with China last November.

Meanwhile, the United States and Mexico decided to have a joint task force on climate policy co-operation on Friday when Mexico made announcements that its emissions will peak by 2026 and drop 22% below 'business as usual' levels by the year 2030.

Last week, the Consumer Financial Protection Bureau (CFPB) has proposed new rules for payday loan companies.

President Obama has praised the CFPB for this step, which is aimed to keep a control on payday loan companies. President Obama shared that payday lenders are generally present in low income areas. They offer cash advances for a short term at a price.

He visited Alabama and found that payday loan stores were four times more than McDonald's food outlets. Experts affirmed that though payday loans are considered as easy money, a person gets trapped in a debt circle.