Fitch is allowing itself until the first quarter of 2014 to determine if US credit rating needs to be downgraded.
Legal & Regulatory
US Senators reach deal to end shutdown
The bipartisan leaders of the US Senate had finally agreed to end the partial shutdown of the United States and raise its borrowing authority, said a report from Bloomberg.
JP Morgan to pay USD100 million to settle Whale trades charges
JP Morgan Chase & Co. had admitted wrongdoing and agreed to pay USD100 million settlement regarding the disastrous London Whale trade, said a report from Reuters.
Regulator allows China Everbright Bank to conduct overseas share sale
The China Securities Regulatory Commission approved the application of China Everbright Bank Co to hold a share sale overseas and raise USD 2 billion.
Lawyers call for T-Mobile to pull out smartphone ad
Lawyers asked T-Mobile to remove its television commercial which was a parody about smartphone theft, saying it belittled the issue.
Latest News
Jury deliberations on the insider trading case against Mark Cuban started Wednesday. The jury had begun deliberations for the insider trading case of NBA Dallas Mavericks owner Mark Cuban.
In its amended IPO filing, Twitter would be listed with the NYSE and also reported increased revenues and user base despite mounting losses.
Grupo BTG Pactual got regulatory approval to open a broker-dealer unit in Mexico. Brazil-based Grupo BTG Pactual received approval on Monday from regulatory authorities to establish a new broker dealer operation in Mexico.
Savient Pharmaceuticals filed for bankruptcy protection and court approval to sell assets to a US WorldMeds unit.
VEBA Trust pegs shareholdings at USD3.6 billion. The healthcare trust affiliated with the United Auto Workers union had finally placed a price tag on the worth of its shares in Chrysler Group.
Even for just trying to get a deal done, US stocks rebounded with modest gains after a day of volatility.
Senate Congressional leaders from both parties have progressed as to reaching a deal on the debt ceiling and the budget impasse.
Stock markets in Europe fluctuated wildly amidst the uncertainty of the US finalizing budgets for its debt servicing and other governmental services.
In a survey conducted over UAE small and medium enterprises, over 80% would hire more employees in the next six months.
