British and U.S. regulators are poised to levy hefty fines on leading banks in a landmark settlement after a year-long global investigation of allegations of collusion and manipulation in the foreign exchange market.
Legal & Regulatory
FDA says expects China to OK staff visas after two-year delay
The U.S. Food and Drug Administration said on Friday it expects China, after almost two years of delays, to soon approve visas that will allow the agency to more than double its staff in China.
UBS looking to take back bonuses from forex traders
UBS AG, among the six banks fined this week for their role in the global foreign exchange scandal, is looking at clawing back bonuses from its traders.
Walmart workers plan Black Friday protests over wages
A group of Walmart employees pushing for higher wages said on Friday they were planning protests at 1,600 Walmart stores nationwide on Black Friday, the biggest shopping day of the year in the United States.
China's banks to raise $10 billion in year-end preference share bonanza
Three of China's top 10 banks plan to issue up to 60 billion yuan ($9.79 billion) of preference shares by the end of the year, according to filings with the Shanghai Stock Exchange.
Latest News
Russia's central bank has been forced to step up its gold buying this year to absorb domestic production that Western sanctions are making it hard for miners to sell abroad, and to boost liquidity in its foreign reserves, sources said.
The Fed should fight low inflation as vigorously as it would a too rapid run-up in prices or risk the same sort of prolonged slow growth plaguing Japan and Europe, Boston Federal Reserve bank president Eric Rosengren said on Monday.
U.S. President Barack Obama on Monday said Internet service providers should be regulated more like public utilities to make sure they grant equal access to all content providers, touching off intense protests from cable and telecoms companies and Republican lawmakers.
Anadarko Petroleum Corp's agreement to pay $5.15 billion to clean up nuclear fuel and other pollution received approval from a federal judge on Monday, the final hurdle for the settlement touted by the U.S. Department of Justice as the largest-ever environmental cleanup recovery.
The world's biggest banks should hold a buffer of bonds in case of a collapse so that government bailouts are avoided, a global regulatory body proposed on Monday.
China is part of "intensive" talks on a global trade pact regarding information technology products, the World Trade Organization's chief said on Saturday, but it is unclear if a deal will be made at a meeting of Asia-Pacific leaders underway in Beijing.
Brazilian planemaker Embraer SA (EMBR3.SA) said on Saturday that a strike that began this week stopped it from delivering planes, processing bills and conducting other "critical operations" after union workers blocked factory doors.
Philadelphia-area transit workers have voted overwhelmingly to ratify a two-year contract with the local transportation agency, averting a strike that threatened to cripple bus and rail lines and that their union warned would be long and contentious.
Japan's Economy Minister Akira Amari said on Saturday he saw progress in Asia-Pacific regional trade negotiations, although it would be difficult to reach an agreement by the end of the year, according to Jiji press.
