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.
Legal & Regulatory
Rambus wins in $280 million patent settlement with Micron
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.
Indian regulator frustrates asset managers as control on mutual funds tighten- report
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 applies for US patent of Bitcoin-like payment system
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 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.
Latest News
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.
China sovereign investor Central Huijin Investment Ltd received approval the Shanghai Office of the People's Bank of China to trade on the interbank bond market, a Bloomberg report said.
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.
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.
