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.
Legal & Regulatory
BNY Mellon China JV gets regulator approval for exit of U.S. partner
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.
Drugmakers may need indemnity for fast-tracked Ebola vaccines
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.
Fed lays out scenarios for 2015 bank stress tests
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.
Abbott, Mylan silent on why changing tax-inversion terms
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.
Latest News
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.
The U.S. Department of Commerce will terminate a 15-year-old deal sheltering Russian flat-rolled steel producers from high import duties, it said in a letter to Russian authorities.
Lufthansa pilots threatened to call further strikes this week after the latest stoppage in a dispute over retirement benefits grounded two-thirds of its flights on Tuesday.
Chinese automakers from state-owned FAW Co to Zhejiang Geely are racing to sell more eco-friendly cars as they try to meet tough fuel economy rules due next year as part of Beijing's battle against pollution.
Generic drugmaker Actavis Plc and France's Sanofi SA are among the suitors for privately held Omega Pharma NV [COUCKO.UL], Bloomberg reported, citing people familiar with the matter.
A tentative agreement between the Ukrainian and Russian presidents has raised hopes of ending a dispute in which Moscow has halted natural gas supplies to Kiev, but several obstacles still have be overcome.
The recent volatility in financial markets reinforces the need for the Federal Reserve to be patient with its policy stimulus and to clearly tie an eventual interest-rate rise to improving economic conditions, a top Fed policymaker told Reuters.
