The Public Company Accounting Oversight Board gave a new proposal allowing auditors to give their commentary on "critical audit matters" in their audit reports.
Industry
China plans to loosen rules on foreign investment on free trade zones
China announced its plans of easing laws for foreign investors in its free trade zones. China has planned to ease laws on foreign investment in the country's new free trade zones.
China lures more investment in aged care market
China would be giving perks for foreign and private investors interested in providing elderly care services and facilities in the country.
India not going back to 1991 crisis - PM
Prime Minister Manmohan Singh of India said the country will not replaying the crisis that occurred in 1991 even as it experiences its slowest growth in a decade.
NoKor and South Korea agree on reopening of joint industrial park
North and South Korea announced that they had agreed to reopen the Kaesong industrial complex, which was closed when tensions grew between the two countries in April.
Latest News
The Procter & Gamble Company voluntarily recalled some lots of its Eukanuba and Iams dog and cat foods for possible Salmonella contamination.
Retail sales in the US rose in July, signifying better times for the US economy. The Commerce Department revealed that US retail sales rose to 0. 2% in July.
A US regulator subpoenaed major metal warehousing firms after an alleged restriction of material inflated prices.
Studies by financial analysts indicated that the banking sector is recovering and may regain top spot on S & P.
Itau Unibanco Holding SA will contest tax charges amounting to BRL18.7 billion (USD7.9 billion). Latin America's largest bank in terms of market value, Itau Unibanco Holding SA received tax charges amounting to BRL18.
The European commission seek to prove that the Belgian aid to Wallonia airports was illegal. The European Commission (EU) called for an investigation into the Belgian aid for several airports in the Wallonia region.
The US Securities and Exchange Commission approved the takeover by IntercontinentalExchange of NYSE Euronext.
Cuadrilla Resources suspended its oil drilling exploration in Balcombe as anti-fracking protests intensified.
Land auction for the economic zone in Shenzhen failed to draw property developers from Hong Kong. Despite the hype that accompanied the economic zone development in Shenzhen, Hong Kong property tycoons were not lured to bid in the recently-completed land auction.
