Eight US technology firms in the US wrote an open letter to President Barack Obama, calling on government to impose stricter controls on online surveillance.
Legal & Regulatory
Australia says Yanzhou Coal Mining can own 100pct in Yancoal Australia- 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.
Volcker rule most likely will be effective before 2015 - top regulator
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.
Private equity under fire in Sweden as country reconsiders education model- 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.
Volcker rule scrutinizes proprietary trading businesses
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.
Latest News
Court-appointed monitor Ernst & Young has extended the deadline for the acceptance of bids for Canadian wireless startup Mobilicity to December 16, a Reuters report said.
A capital gains tax set to take effect in April 2015 which would be levied on the homes sold to people living abroad could diminish the status of London as a property magnet for foreign investors, Bloomberg reported.
The Israeli parliament passed legislation on Monday aimed at improving economic competition by halting pyramid structures in companies and breaking up large conglomerates blamed for high living costs.
Tightening monetary policy in China has been reduced due to the slowing yearly consumer inflation rate of 3% in November from 3.2% the month before, said a Reuters report.
As the Volcker rule for banking and trading is being wrapped up by five US government agencies, politicians and advocates of the controversial Glass-Steagall legislation intended to push a revival of a version of its favored banking act should the former fail to curb risky betting by US banks.
Chinese state-owned firms are expected to lead the initial public offerings in the mainland next year after the lifting of the temporary ban on public share sales by the government, according to sources interviews by Bloomberg.
Bankers told the Financial Times that the news of HSBC's planned spinoff of its UK unit logically follows the ringfencing requirements that will be part of the UK Banking Reform Bill about to be passed through the British parliament.
Together with international asset chaser Martin Kenney, New York-based hedge fund Platinum Partners is planning to invest in the recovery of Brazilian fraud claims, a report from the Financial Times said.
Los Angeles has filed a case against Bank of America for discriminatory mortgage lending among the minority communities in the city, Reuters reported citing a court filing.
