Chinese regulators will allow foreign firms access to the yuan-denominated credit card clearing business from August next year, Hong Kong's South China Morning Post newspaper reported on Saturday.
Legal & Regulatory
U.S. soda makers headed for tax showdown in California
No American city has passed a ballot measure raising taxes on sugary drinks, and ahead of votes Tuesday in Berkeley and San Francisco, the U.S. soda industry has been working hard to keep it that way.
ECB to keep TLTRO terms unchanged unless economic picture darkens: Sources
The ECB will not improve the terms of its ultra-cheap long-term loans for now, though this may change if it becomes clear that the euro zone economy is taking another turn for the worse, several sources familiar with the discussion told Reuters.
Takata discloses air bags with a new flaw were made from 2008-2014
Takata Corp disclosed for the first time that it began making air bags with a recently discovered flaw as early as 2008, in a report to the U.S. National Highway Traffic Safety Administration that the agency released on Saturday.
Fed's Kocherlakota defends dissent, cites drop in inflation outlook
The lone Federal Reserve policymaker to dissent against the U.S. central bank's decision this week to end its bond-buying stimulus said Friday that the Fed was risking its credibility by failing to take action against a worrisome drop in inflation.
Latest News
The U.S. Air Force may miss its target of August 2016 to start using the Lockheed Martin Corp F-35 fighter jet in combat if Congress blocks the service's plan to retire its A-10 tank-killer aircraft, a top U.S. general said Thursday.
Ukraine, Russia and the European Union signed a deal on Thursday on the resumption of Russian natural gas supplies to Ukraine for winter after several months of delay during the conflict in Ukraine.
Finance ministers and tax chiefs from 51 countries signed an agreement on Wednesday to automatically swap tax information, which Germany's finance minister said heralded the end of tax evasion via secret bank accounts.
The Federal Reserve on Wednesday ended its monthly bond purchase program and dropped a characterization of U.S. labor market slack as "significant" in a show of confidence in the economy's prospects.
The European Commission provisionally accepted the budgets of France and Italy, saying on Tuesday that no euro zone states had submitted deficit plans for next year that seriously breached EU rules for fiscal stability.
The Federal Reserve awarded $219.114 billion of seven-day term deposits to banks, a record amount, at a test auction held on Monday, it said in a statement on Tuesday.
About 100,000 Hungarians rallied on Tuesday night to protest at a planned tax on data traffic and the broader course of Prime Minister Viktor Orban's government they saw as undermining democracy and relations with European Union peers.
The European Central Bank spent 1.704 billion euros last week on covered bonds under a new purchase program with which it hopes to foster lending to businesses and thereby support the euro zone economy.
A Democratic U.S. Senator from Oregon supports legalizing the recreational use of marijuana and will vote “yes” to a state initiative next week that would let adults consume pot for fun, his office said on Monday.
