A global blueprint that was supposed to eradicate manipulation of benchmarks was expected to stumble due to patchy implementation.
Finance/Venture
NYSE Euronext takes over Libor
NYSE Euronext said that it would take over the London interbank offered rate (Libor) from the British Bankers' Association.
Source: CFTC close to a deal on cross-border policy
CFTC was close to a compromise on how the regulator's rules applied to foreign corporations dealing with banks in the US.
European Commission proposes an agency to shut and revamp troubled banks
The European Commission proposed the creation of a new agency that would close and revamp failed banks.
Merkel pushes for free trade but adds EU must not forget US spying
Angela Merkel wanted to push for free trade but told EU allies not to sweep America's secret surveillance under the carpet.
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The Financial Stability Oversight Council designated American International Group and GE Capital as systemically important to the financial system.
China trade outlook worsens as exporters lose trading confidence. China trade outlook worsens as exporters lose trading confidence. Traders are apprehensive as they face weak external demand, along with rising labour costs and the seen rise of the yuan currency.
Fund manager John Paulson lost 65% worth of its gold fund this year after the portfolio fell by 23% last June.
US venture firm fundraising activity decreased 54% in the second quarter this year. There was a decline of 54% in fundraising by US venture-capital firms in the second quarter.
ECB's executive board member said that the bank's interest rates would remain the same as long as inflation stays moderate.
According to data from Reuters, adviser departures in 2013 were lower than 2012. There were about 200 teams of veteran advisers who moved so far this year until the end of June.
India's commerce and industry minister, Anand Sharma, said that India was ready to begin talks regarding bilateral investment treaty.
Leaps's average 1,320 contracts per day climbed to 7,139 contracts which raised questions from options analytics.
Merrill Lynch offices in New York and Washington D.C. hired advisers from rival, Morgan Stanley. Bank of America Corp's Merrill Lynch hired veteran brokers from its rival, Morgan Stanley Wealth Management.
