A unit of Bank of New York Mellon Corp, one of the largest wealth managers in the United States, has won regulatory clearance for the sale of its stake in a joint venture with China's Western Securities Co Ltd , as a shake-out continues among partnerships in the country's financial industry.
Legal & Regulatory
India's finance minister favors interest rate cut: paper
India's Finance Minister Arun Jaitley favors a cut in interest rates to trigger demand in the construction sector, a newspaper report said on Saturday, but the central bank has signal it will not ease policy until it is confident of lower inflation.
Areva-Siemens raises claim to $4.4 billion over Finnish reactor delays
The French-German consortium Areva-Siemens (AREVA.PA)(SIEGn.DE), the supplier of Finland's much-delayed Olkiluoto-3 nuclear reactor, has increased its claim against Finnish utility Teollisuuden Voima (TVO), TVO said late on Friday.
Japan's party animals closer to dancing the night away
Japan's cabinet approved changes on Friday to a 66-year-old law that bans late-night dancing in clubs, a decision that will help businesses cash in on an expected influx of tourists ahead of the 2020 Tokyo Olympics.
International financial watchdog warns on Iran, North Korea
An international financial watchdog said on Friday member states should take action to ward off risks emanating from Iran and North Korea, which it said had failed to tackle money-laundering and financing of terrorism.
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Drugmakers are looking for some kind of indemnity from governments or multilateral agencies against possible losses or claims arising from the widespread emergency use of new Ebola vaccines in Africa.
The U.S. Federal Reserve said on Thursday it would assume wider corporate bond spreads and a higher oil price in the most strenuous scenario it will use in next year's run of its annual check of banks' health.
Drugmakers Abbott Laboratories (ABT.N) and Mylan Inc (MYL.O) on Wednesday declined to explain in detail why they changed the terms of a $5.3 billion deal in which Mylan will buy part of Abbott's overseas generics business and reincorporate for tax purposes in the Netherlands.
Japan's plan to open up to casino gambling has been delayed again, three people familiar with the process said, dealing a blow to one of Prime Minister Shinzo Abe's policy priorities and to hopes the first resort will open in time for the 2020 Tokyo Olympics.
U.S. securities regulators adopted a rule on Wednesday designed to avert another financial crisis, but two officials dissented, saying it did not do enough to discourage banks from lending to borrowers with shaky credit and then passing the mortgage risk to investors.
Some of the world's biggest banks and asset managers have asked the Hong Kong securities regulator to delay a landmark China stock trading link that could generate billions of dollars of trade a day due to uncertainty over the scheme rules, according to a letter seen by Reuters.
The incoming head of the EU executive, Jean-Claude Juncker, told the European Parliament on Wednesday that he would present his 300-billion-euro plan for investment to bolster growth and jobs by the end of this year.
The United States faces potential trade sanctions from Canada and Mexico after the World Trade Organization ruled on Monday it had failed to bring its meat labeling regulations fully in line with international fair trading rules.
Michigan Governor Rick Snyder signed a bill on Tuesday that will keep electric carmaker Tesla Motors Inc (TSLA.O) from selling its cars directly to consumers in the state, home to the biggest U.S. automakers.
