Bank of America CEO Brian Moynihan and Federal Reserve Board Governor Jerome Powell will be among bank executives and regulators speaking at an industry conference in New York hosted by The Clearing House Association, which represents interests of the biggest commercial banks.
Government
SEC ex-chief says dual share law has additional safeguard measures
In order to protect shareholder's interests, U.S. allows companies to have dual share structures but with additional safeguard measures as the Securities and Futures Commission last month declined to provide a waiver to Alibaba to nominate a majority of directors from its 28 partners.
Federal judge approves Jefferson County plan to end bankruptcy
Judge Thomas Bennett of the US Bankruptcy Court in Birmingham, Alabama approved Jefferson County's debt restructuring plan to exit bankruptcy after a 14-hour hearing on Thursday, November 21.
Jefferson County, Wall Street creditors agree on revised terms to end bankruptcy
Officials of Jefferson County in Alabama said it had arrived at a new agreement with its Wall Street creditors that would pave the way for its exit from its USD 4.2 billion bankruptcy.
Detroit pays USD23 million to consultants, awaits decision on bankruptcy eligibility
The city of Detroit has paid around USD23 million in fees to lawyers, consultants and financial advisers as it awaits a court decision determining its eligibility for bankruptcy protection from creditors.
Latest News
The United States could start missing payments on its obligations some time between March and June if lawmakers don't raise a legal limit on borrowing by early February, congressional analysts said on Wednesday.
Federal Reserve officials felt they could decide to start scaling back the U.S. central bank's massive asset purchase program at one of its next few meetings, provided this was warranted by economic growth, minutes of the Fed's October policy meeting showed.
According to China's Ministry of Commerce, investments from the European Union increased the most in the world's second largest economy in the first 10 months of the year.
Desert Hot Springs on Tuesday announced that it would run out of money in March due to higher-than-expected salary and pension costs. It said that it could join other California cities that filed for bankruptcy last year.
The following bids, mergers, acquisitions and disposals were reported on Tuesday including Nokia, IntercontinentalExchange Group, Goldman Sachs and others.
The following are mergers under review by the European Commission and a brief guide to the EU merger process
Spain will take formal offers from potential buyers for Spain's nationalized lender Novagalicia Banco from Tuesday.
Xiao Gang, head of the China Securities Regulatory Commission, said the new reforms planned by the government on public share sales will increase the role of free market forces.
A request by the central bank of India to be given exemption from the provisions in Section 54 of the Competition Act, which seeks to regulate bank mergers within a certain period, India's Ministry of Corporate Affairs rejected such request.
