As the value of the Bitcoin reached a landmark USD700 valuation, The US Senate committee held a hearing with experts, lobbyists and federal regulators to discuss about the potential threats, risks and benefits of virtual currency.
Legal & Regulatory
UBS tells investors to exit overvalued Royal Mail amid UK government grilling
Prior to meeting with UK's Members of the Parliament regarding claims that Royal Mail's shares in its initial public offering were undervalued, UBS issued a note to investors saying that they need to divest their shares in the postal service.
Birla to delay Idea Cellular stock sale - source
Sources told Bloomberg that the planned stock sale of India's top two mobile phone operator had postponed its original target completion this month, and was pushing for a stock sale next year.
Largan Precision files patent infringement lawsuit against Samsung Electronics Co
Taiwan-based Largan Precision Co has taken Samsung Electronics Co to court for patent infringement regarding its camera lens. The South Korean company allegedly used the Largan's patented lens its Galaxy Note and S series smartphones.
Desert Hot Springs looking to file for bankruptcy
Desert Hot Springs on Tuesday announced that it would run out of money in March due to higher-than-expected salary and pension costs. It said that it could join other California cities that filed for bankruptcy last year.
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A request by the central bank of India to be given exemption from the provisions in Section 54 of the Competition Act, which seeks to regulate bank mergers within a certain period, India's Ministry of Corporate Affairs rejected such request.
OneWest Bank is planning a dividend payout of USD 1 billion to its investors before it holds an initial public offering next year, according to sources who have knowledge of the matter.
An analyst said that the involvement of Bitcoin in the Silk Road online marketplace scandal provided enough boost for the digital currency to receive support from the market, and even US government agencies, as an accepted investment and payment technology solution.
Federal Reserve Bank of Boston Eric Rosengren said large international banks with broker-dealer units placed the financial system at risk, and as such, regulators should ensure that they have adequate capital.
China's recent government CNY20 billion or USD3.3 billion bond sale recorded a 5.3% yield, which was the highest obtained by the mainland since selling debt since 2009.
The US Department of Justice and the Securities and Exchange Commission said bitcoins offer legitimate financial services. The regulators said the digital currency offered various benefits and risks.
According to a lawsuit filed by wireless communications firm LightSquared Inc, Dish Network Corp and its chairman, Charles Ergen had schemed to ensure that the latter would be able to obtain the former's broadband spectrum.
Yuan Zhide, a Shanghai Venture Capital Senior Executive, said the Chinese central government's ban on initial public offerings needed to be removed if the country's venture capital industry is to be revived.
Although China's support to overhaul the current system of registration-based stock issuance, analysts said it might take a long time for the new system to be adopted.
