The over 900 pages of preamble and regulations regarding the Volcker Rule appeared to have excluded market-making activities of Wall Street banks, said a Bloomberg report.
Legal & Regulatory
Saputo extends takeover bid for Warrnambool by another week
Saputo Inc., Canada's biggest dairy company, has extended its bid for Warrnambool Cheese and Butter Factory Co. by a week to next Friday. Saputo is up against Murray Goulburn Co-operative Co. Ltd. and Bega Cheese Ltd. for the Australian dairy firm, according to a Reuters report.
Norway says Bitcoins aren't real money
Bitcoins suffered a blow in Norway as the government declared that it was not real money. It will be treated as an asset and be subject to a capital gains tax, Bloomberg reported.
Top official claims to have evidence against Qualcomm over price-fixing - Chinese media
China Daily on Thursday quoted National Development and Reform Commission's (NDRC) anti-price-fixing bureau Xu Kunlin, who said his agency has substantive evidence to prove that chipmaker Qualcomm Inc is involved in price-fixing acts.
Samsung loses to Apple on patent infringement case
A South Korean court awarded Apple a legal victory on a patent infringement case filed by Samsung Electronics Co. The decision would enable Apple to continue selling its products in South Korea, Reuters said in its report.
Latest News
The row that occurred between 23andMe Inc and the Food and Drug Administration has led to stricter oversight of the genetic testing industry, according to a Bloomberg report.
A joint statement on Tuesday revealed that Micron Technology will be paying Rambus at $10 million in royalties per quarter for a seven-year period for the former's use of the latter's DRAM memory patents.
The Securities and Exchange Board of India or SEBI has tightened its control on mutual funds, causing frustration in asset managers, according to a Reuters report.
JPMorgan Chase has filed an application for a payment system that is similar in many ways to the controversial Bitcoin, according to a Financial Times report.
Australia gave its approval to China state-owned coal firm Yanzhou Coal Mining Co to move towards a 100% ownership in Yancoal Australia, a Bloomberg report said.
Bart Chilton, member of the Commodity Futures Trading Commission, said the Volcker rule on proprietary trades will most likely take in effect before 2015, as said in a Reuters report.
The role of private equity firms in Sweden are now under close scrutiny as the country rethinks its pioneering educational reforms that are emulated worldwide, a Reuters Insight report said.
Major banks on Wall Street are extremely anxious about the threat of the final deliberations of the Volcker rule, of which its provisions regarding the definition and exemption of market-making is set to be deliberated soon.
Sources noted that Nokia Oyj is in danger of finding a new buyer for its mobile handset business if it failed to lift the freeze on its Indian assets to be able to transfer them to Microsoft as part of its acquisition agreement.
