Legal & Regulatory
YRC Worldwide Inc asks union for new contract terms to get debt refinancing approval
YRC Worldwide Inc sought new labor contract terms from its union employees to get lenders' approval to refinance the trucking company's borrowings.
Federal Reserve scales down asset purchases
In response to developments in US economy, Fed officials scaled back asset purchases. In a report by Reuters, the Federal Reserve scaled back asset purchases following the slow improvement of the US economy.
UBS AG and Credit Suisse Group AG may need to downsize with higher ratios
With Switzerland requiring higher capital ratios, banks may be hard pressed to continue with their normal operations according to JPMorgan Chase analysts.
Euro's currency at a cross roads
Some say the Euro is overvalued while others claim it is not. The founders of the Euro had dreamt of a superpower currency that can go head to head with the US dollar, to free Europe from US economic dependence.