Compared to JPMorgan Chase, Citigroup's legal costs would easily reach USD5 billion. The next US bank primed for legal and regulatory scrutiny would be Citigroup Inc.
Legal & Regulatory
Aging population results in less effective monetary policy- column
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.
Euro zone needs macroprudential, counter-cyclical fiscal policies- Hugo Dixon
Hugo Dixon said the Euro zone needed macroprudential and counter-cyclical fiscal policies to mitigate the results of their single monetary policy.
City of Stockton nearing deals to exit bankruptcy
A draft bankruptcy plan is in the works for the city of Stockton and its bond creditors and other insurers.
Samsung offers settlement for EU probe on patent lawsuits
The South Korean technology firm Samsung offered to settle with the EU Competition Commission as to the patent lawsuits currently being investigated.
Latest News
The CFTC warned that all buyers must be allowed to participate and operations need to be transparent as required by the Dodd-Frank Act.
Arkansas is the first of many states in the US that would receive funds for Medicaid expansion under Obamacare.
The Department of Telecom, upon the urging of the Comptroller and Auditor General, had confirmed the charges imposed on Bharti Airtel for improper spectrum use in seven areas.
Hong Kong's adherence to its rules may force the IPO of Alibaba to be done elsewhere. The largest shareholders of the Alibaba Group have backed the partnership structure proposed by the company that was the central issue of a debate as to the permission to list its shares in the bourse.
In an unprecedented sweep, several Japanese firms and their executives have been charged with conspiracy to undertake price fixing and agreed to settle amounts with the US Justice Department.
New product offers have been made by NASDAQ OMX such as USD10,000 contracts for its clients in the currency market.
Royal Park claims fraud in the marketing and sale of residential mortgage backed securities. A suit was filed against the Credit Suisse Group AG in New York for USD359 million worth of residential mortgage-backed securities.
JPMorgan Chase & Co are deep in the negotiations to settle the probes conducted at the state and federal levels.
France and the European Union are conducting inquiries as to the tactics employed by Apple that would violate antitrust regulations.
