China opened its free trade zone in Shanghai and was hailed as the country's boldest reform, according to a Reuters report.
Legal & Regulatory
US and India ties drifts due to economic differences
The US-India ties were seen to lose its shine over economic differences and was even admitted by India's National Security Adviser.
Manufactured US goods barely increased, fiscal uncertainty reflected
Orders for US manufactured goods declined in August which showed a possible sign of companies holding back their investments due to uncertainties in US government spending.
IMF and EU halts Greece bailout aid discussions
Greece international lenders had temporarily halted their latest bailout fund to Greece, according to a Reuters report.
RBI says banks to pay for credit card scam
The Reserve Bank of India had refused to give extended deadline for banks to upgrade their security features to protect cardholders from credit card frauds.
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Critics say the UK Prime Minister's Home to Buy scheme would only push home prices higher than expected.
JPMorgan's CEO met with the US Attorney General to finalize a settlement on the mortgage backed securities fraud investigations.
A Reuters report said banks would need to increase their capital by USD155 billion or EUR115 billion in order to comply with the global Basel III accord.
There has been an increasing clamor from politicians, store associations and laborers alike to ease store hours regulations amidst a struggling French economy.
US and British regulators had charged interdealer broker firm ICAP's European arm and three ex-employees for rigging the London interbank offered rate to their benefit.
The European Securities and Markets Authority had sought for the imposition of a levy for non EU clearing house operators.
Marek Belka, Poland's Central Bank Governor, had urged local banks to find opportunities through purchase of local rivals that are owned by foreign banks.
Reuters columnist Allison Schrager said one of the reasons why the US Federal Reserve did not manage the recession as well as it should is the nation's aging population.
Hugo Dixon said the Euro zone needed macroprudential and counter-cyclical fiscal policies to mitigate the results of their single monetary policy.
