China's central bank the People's Bank of China (PBOC) stressed the need for its domestic banks to avoid transactions using Bitcoin and other virtual currencies and vowed that it will launch countermeasures against illegal activities using the alternative online payments.
Legal & Regulatory
EU rules on hedge short sell reporting irritate investors and hedge funds
Critics of the new rules requiring short-sellers to report their positions said the European Union's requirements had not made the hedge fund industry more competitive.
Polish lawmakers approves pension system overhaul to cancel government bonds
Lawmakers of the Sejm or the Polish Lower House of Parliament approved changes in the country's pension system to takeover government bonds currently held by 14 privately-run pension funds.
Royal Philips, Funai Electric Co in potential legal tussle over botched acquisition deal
Royal Philips and Funai Electric Co could find themselves in court over the failed deal involving the acquisition of the Lifestyle Entertainment business of the Amsterdam-based firm.
Catalyst Capital drops out of Canadian government's spectrum bidding
Investment firm Catalyst Capital Group is the fourth bidder to withdraw from the Canadian government's auction of a 700 MHz wireless spectrum. Canada seeks to break the stronghold of three dominant players in the country's mobile phone business.
Latest News
The San Francisco Bay Conservation and Development Commission said it will be looking into whether Google Inc had the complied with the necessary paperwork to build its barge project on Treasure Island.
Investors including the Bucks County Water & Sewer Authority in Pennsylvania, the city of Baltimore and the Central Bucks School District agreed to settle the municipal bond-rigging case it filed against Bank of America Corp.
Auction house Christie's said the value of the 2,781 works collection fully and partially-owned by the Detroit Institute of Arts (DIA) was around the USD452 million to USD866 million range.
The Chinese government on Thursday cleared the USD1.3 billion car-making joint venture between Dongfeng Motor Group and France's Renault. Under the deal, the two companies will manufacture 150,000 multi-purpose vehicles annually.
International law company Eversheds expands in Africa through partnerships with Mahons Attorneys in South Africa and El Heni in Tunisia. Both firms will be rebranded as Eversheds.
Former Federal Reserve Chairman Alan Greenspan told Bloomberg Television today that despite the high trading value of the Bitcoin, the virtual currency holds no intrinsic currency value like with real physical money.
The Small Business Investor Alliance, who had been championing the the Small Business Capital Access and Job Preservation Act in the US House of Representatives, expressed their approval for the passage of the Act.
The antitrust regulator of Brazil has instructed Telefonica to bring down its influence in the country's telecommunications business either by reducing its holdings or convincing Telecom Italia to sell its local unit.
The Financial Supervisory Service of South Korea told Bloomberg it plans to punish the local unit of Wall Street firm Goldman Sachs Group Inc for breaking rules on the sale of financial products.
