Germany's Bundesbank head says that the ECB cannot solve the current Eurozone crisis. According to Bundesbank Chief Jens Weidmann, the European Central Bank cannot solve the current Euro Zone crisis.
Finance/Venture
China’s New Sovereign Fund Chief Faces Pressure to Boost Returns
Ding Xuedong was appointed the new chief of the sovereign wealth fund of China and faced pressure to boost returns for the country.
Cohen To Remain Under Investigation
According to a person familiar with the matter, Steven Cohen would remain under investigation even after prosecutors missed a late July deadline for charges labeled as the largest insider trading in history.
Japan Mergers Hit Lowest in Nine Years while Yen Unstable
Japanese mergers affected by volatile yen. Japan has hit the lowest number of deals since 2004. The number of mergers in the first two quarters of 2013 was 997 with a total valuation of US$45.
Losing US$317 Billion Makes Treasuries Safer for Mizuho and HSBC
Investors kept their money in US Treasuries after the steepest two month loss for securities. A total market value of US$317 billion was erased after the steepest two month loss for securities.
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To prevent cross border issues, the European Banking Authority stands to create a database on bankers and key bank functions for sharing between countries.
Deutsche Bank, according to its CFO, needs to change balance sheet to comply with new capital requirements.
Temasek Holdings denies approaching the UK government for its Lloyd Banking Group shareholdings. Temasek, the Singaporean sovereign wealth fund manager, has confirmed it had not approached the UK government as to the purchase of a part of state's shareholdings in Lloyds Banking Group.
Mervyn Davies is planning to purchase part of the shareholdings of the UK government in Lloyds Bank.
The PSE President Hans Sicat says sales record still achievable within the year. According to the Philippine Stock Exchange, the target for record shares sales for 2013 is still achievable.
According to data shown by the US government, higher jobs were created last June that totaled to 195,000 from the previous forecasted of 165,000 job generation.
The interest rates of US are expected to increase within 14 months that should have the world brace for prolonged dollar surge.
The decrease in demands for China was accounted for its slowing economic growth as Asian's coffee premiums remain at multi-month highs.
Former Provident executives were sentenced to jail after pleading guilty for investment fraud. According to United States attorney John M. Bales' statement today, four executives from Provident Royalties, Inc.
