The investigation into improprieties related to mortgage backed securities hinges its legality in a 1989 law.
Industry
Argentina urges hold order on payment judgement to debt holders
In a filing with the US Supreme Court, Argentina seek stay of payment order issued by lower court. The Argentine government had filed an urgent motion in US Appeals Court last Friday to stay the hold order requiring the government to pay USD1.
Obama says shutdown clear sample of differences between parties
Obama, in a fundraising speech, said that the differences between Democrats and Republicans were exemplified in the recent budget impasse.
Japan Exchange fell as profits decreased
Japan Exchange fell after expectations were unmet as major stocks pulled down the market. The biggest decline was registered with Asian stocks since August after the forecasts Canon Inc to Japan Exchange Group Inc had frustrated investors at the same time money market rates had urged in the second largest economy in the world.
Swatch announces revenue decline and cut back on component deliveries
In twin moves, Swatch was able to identify the cause of its sales declines and increase the demand for its components by cutting back on deliveries.
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Mercom Capital Group reported a wind sector investment for India totalling USD5.6 billion. The third quarter wind venture capital funding fell to USD135 million from USD210 million in the previous quarter of 2013.
As the UK and the US institute crowdfunding regulations, India is also drafting its own set of rules.
New inclusions to avoid the London Whale scandal is sought to be included in the new Volcker Rules, which may result in failure to meet the mandated year end deadline.
With a return of just 6.4% per year in traditional investment vehicles, a shortfall of 1.6%, many pension funds opt to invest in alternative options which promise higher returns.
Fund managers BlackRock Inc and Neuberger Berman Group LLC seek settlement in the amount of USD5.75 billion for mortgage backed securities fraud.
Called expedited processing, the Telecommunications Regulatory Authority of UAE would allow direct offers of prepaid products to be made by telcos.
Seeing a decline in its fees and revenues in its current market, Fidelity Investments goes into ETF management, a market dominated by the Vanguard Group and BlackRock Inc.
Kuwaiti Finance Minister Sheikh Salem Abdulaziz al-Sabah said the government is reviewing its subsidies system to its residents and subsidies.
The Telecommunications Regulatory Authority of UAE would, after a five year wait, put the mobile phone number portability system operational by December.
