Former U.S. Federal Reserve Chairman Alan Greenspan has been hired by Deutsche Bank AG (DB) as an adviser to its corporate and investment banking unit, the German bank said Monday. Greenspan, 81, stepped down at the beginning of 2006 as Fed chairman, a post he had held since 1987. He was replaced by Ben Bernanke. He will serve Deutsche Bank as a senior adviser.

CHINESE INFLATION

China’s inflationrate accelerated to the highest monthly rate in a decade, driven by a 15.4 percent surge in food prices over the year-earlier period, according to data released Monday. Prices of pork and other meat surged 45.2 percent and eggs 30.6 percent, the National Bureau of Statistics said. July’s inflation rate of 5.6 percent was the highest monthly rate since February 1997.