Legal & Regulatory
US moves closer to default possibility
The United States of America had moved closer to reaching a first ever default on the nation's debt after House Speaker John Boehner ruled out a straightforward bill to increase the country's borrowing limits without approval from the US President, said The Economic Times report.
US District Judge denies HSBC motion
HSBC Holdings had lost its bid to undo a 2009 securities fraud trial verdict, according to a Reuters report.
EU-US trade pact face uphill climb
The Transatlantic Trade and Investment Partnership had faced gale winds and now stands to undergo rough seas.
US shutdown causes ripple effects
The US shutdown and its eventual break in the deadlock has been hoped by many countries as the effect has reached other bourses.
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New EU rules had been set to be implemented in 2018 left investors uncertain of their next move. The European Commission had set a new framework for bank bailouts in July as taxpayers expressed outrage over using tax money to fund lenders in financial trouble.
Shareholder Marvin Pearlstein filed a lawsuit against Blackberry Ltd and its top executives for providing false information about the company's financial position and business growth of its newest smartphone line.
Cooper Tire & Rubber Co filed a complaint in the Delaware Chancery Court to compel Apollo Tyres in closing its acquisition transaction soon, said a Reuters report.
Treasurer for Australia Joseph Hockey extended the time frame for Australian regulators including himself to decide whether the acquisition of GrainCorp Ltd by Archer Daniels Midland Co would go against the national interest.
Oracle Corp founder Larry Ellison agreed to give up 95% of his USD575 million payout from terms of a buyout agreement with Pillar Data Systems Inc in order to appease the software company's investors.
McDonald's representatives told the Company Law Board that the removal of its partner was due to actions violative of their joint venture agreement.
Air New Zealand said on Friday it would increase its stake in Virgin Australia Holdings Ltd. On Friday, Air New Zealand said it would increase its stake in Virgin Australia Holdings Ltd.
Oracle Corp Chief Executive Officer Larry Ellison had agreed to give up a possible payout. Larry Ellison, Oracle Corp's CEO, had agreed to give up potential payout valued approximately USD500 million.
Danone had forwarded a claim worth EUR200 million against Fonterra for its false contamination scare of its milk products.
Concert promoter AEG Live was not responsible for Michael Jackson's death, the jury ruled. A jury in a Los Angeles court cleared concert promoter AEG Live of any liability in Michael Jackson's death in 2009.