China opened its free trade zone in Shanghai and was hailed as the country's boldest reform, according to a Reuters report.
Industry
EU switches burden of bank bailouts from taxpayers
The European Union had switched the burden to aid troubled banks from taxpayers to shareholders, big depositors and bondholders, said a Reuters report.
EU imposes rigid fiscal scrutiny
A new era of rigid fiscal scrutiny would be imposed by the European Commission to prevent repeated occurrences of financial turmoil and to aid the region's debt crisis.
Markets fear less on US shutdown
After the Federal Reserve announced a halt on its proposed bond buying reduction program, the worldwide tension over the US monetary policy had also subsided, said a Reuters report.
US data shows contradicting signals on economy's health
Acquisition of previously owned homes had slumped in August while claims for jobless benefits became lesser last week which showed a contradicting signal regarding the health of the US economy.
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Critics say the UK Prime Minister's Home to Buy scheme would only push home prices higher than expected.
JPMorgan's CEO met with the US Attorney General to finalize a settlement on the mortgage backed securities fraud investigations.
In an Upstart Business Journal report, Atlas Venture partner Jeff Fagnan endorsed startup investing network AngelList to Boston companies to increase venture capital investments in the area.
The European Securities and Markets Authority had sought for the imposition of a levy for non EU clearing house operators.
Marek Belka, Poland's Central Bank Governor, had urged local banks to find opportunities through purchase of local rivals that are owned by foreign banks.
The CFTC warned that all buyers must be allowed to participate and operations need to be transparent as required by the Dodd-Frank Act.
Real estate prices would not be picking up soon due to worry over rising borrowing cost rates, according to economist sentiments gathered by Reuters.
OCC would register in Europe in order help companies seeking to trade in equity derivatives based in Europe.
The Department of Telecom, upon the urging of the Comptroller and Auditor General, had confirmed the charges imposed on Bharti Airtel for improper spectrum use in seven areas.
