UK banks would need another GBP50 billion on top of GBP13.7 billion to comply with both Basel III and Basel IV.
Legal & Regulatory
After regulatory investigations, JPMorgan Chase beefs up oversight- sources
Sources told the Wall Street Journal that JPMorgan & Chase would be allocating USD 4 billion to strengthen its oversight controls.
McDonald’s offers to buy out Indian partner
McDonald's made a buyout offer to Vikram Bakshi as the giant fast food chain planned to effectively settle dispute between the two sides.
American Airlines wins bankruptcy judge’s approval
US Bankruptcy Judge Sean Lane approved American Airlines' petition to exit bankruptcy today at a court hearing held in Manhattan.
EU competition authority to investigate tax systems of member countries
Tax avoidance systems in EU member countries are to be investigated by EU. An investigation is to be conducted by the European Union on Ireland, Luxembourg and the Netherlands for allegations these countries gave multinationals favorable tax deals over and above the EU's anti-competition rules.
Latest News
EU submits a list of proposals aimed to improve the EU telecommunications industry. In its newest attempt to overhaul the European Union's telecommunications industry, a proposal to place a price cap on cross border phone calls in Europe was made.
BlackBerry Ltd. was scheduled to meet with Canadian lawmakers to discuss the Investment Canada Act as investor concerns increased that a domestic buyout of the struggling company would no longer be possible.
Deutsche Bank AG was under review for excessive entertainment expenses made for pension fund executives.
Premier Li Keqiang said the Chinese economy was stable and that reforms would push through as planned.
Sheryl Sandberg met with the State Council Information Office (SCIO), an Internet regulator, in China yesterday.
The Telegraph reported that Royal Dutch Shell had postponed its refinery project worth USD 1.3 billion in eastern China.
Voters rejected the casino proposal of Hard Rock International for West Springfield, Massachusetts. The casino proposal of Hard International for West Springfield, Massachusetts was rejected by voters in West Springfield, Massachusetts.
The settlement paid out to investors for the collusion between Gen Re and AIG was already approved by US District Judge Deborah Batts.
The Reserve Bank of India (RBI) allowed local banks to borrow overseas up to 100% of their Tier I capital.
