US investment industry continued to resolve the problems on ethics and costs amidst controversies. An average of US$8 million would be spent by Wall Street's brokerages.
Industry
IRS suggests reform to US$2.6 trillion money market fund industry
The IRS proposed reform for the money market fund industry is set to tackle tax matters. On Wednesday, the US Internal Revenue Service recommended new regulations.
Asian stocks wary while ECB, U.S. job reports loom
Asian stock became cautious while the European Central Bank held a summit and US payrolls report loomed.
Punjab looking for consultant
The Indian state of Punjab announced its open post for consultants. In accordance to a recent announcement by the Punjab government regarding industrial policy, new measures were being formalized to create land bank for the industry.
Chinese firms defend unpopular mega projects
Representatives from several Chinese firms defended their unpopular mega projects in Myanmar. In a press conference held in Rangoon, Myanmar yesterday, the Embassy of China and several representatives of Chinese state-owned companies issued a statement regarding the mega projects being developed in the country.
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The Investment Company Institute recorded US$28.1 billion withdrawals from bond reserves. Investors in mutual funds headquartered in the United States withdrew US$28.
The US$2.25 trillion hedge fund industry continued to be hit by June sell-off because of Fed Chairman's remarks.
Asian stocks were swept up by Europe's rally while Euro continued to sulk. On Friday, Asian stocks increased as Euro tended its losses. This transpired after Europe's two most influential banks assured venture capitalists.
Developing countries are in a bind with high yield returns for bonds Developing countries are finding themselves in market situations that are leaving them high and dry.
ICI reported to the Federal Reserve a rise in total money market mutual funds The Investment Company Institute (ICI) issued a report for money market mutual funds assets: "Total money market mutual fund assets increased by $12.
Asian currencies are expected to gains some ground within the next 12 months Bangalore currencies are expected to gain some ground against the US dollar despite the downturn in regional economies and low yields.
Last May, the demand for capital goods at home experienced a slide in Germany. The German demand for capital goods at home experienced a slide in May. The decrease was at 1.
Creditors for Rede Energisa gave the Energisa offer the green light Creditors for Grupo Rede Energia SA, a Brazilian power distributor currently seeking to exit a backruptcy protection, approved for a takeover plan initiated by rival company Energisa SA.
Friday last, China announced that it would cut off credit to force consolidation in industries. Last Friday, China announced that it would cut off credit to force consolidation in industries.
