Greek politicians are coming to a head on the issue of home foreclosure auctions. Greece would be lifting its restrictions on the implementation of home foreclosures in order to give banks the leeway to recover its bad loans.
Legal & Regulatory
JPMorgan under investigation for recent hires
JPMorgan Chase is being investigated by the SEC for possible wrongdoing. The anti-bribery unit of the US Securities and Exchange Commission is conducting an investigation as to the allegations that JPMorgan Chase & Co had hired the children of Chinese officials to boost its business.
China to relax investment rules
China's State Council would be reviewing the laws and regulations regarding foreign investments in the country.
Philippine Commission on Audit announces tighter guidelines for public fund release
The Philippine Commission on Audit asked the Department of Budget and Management to issue guidelines for the release of public funds for different local projects.
U.S. securities regulator bars Conrad Black from U.S. directorships
Former press mogul Conrad Black was barred from directorships by the US Securities and Exchange Commission and ordered him to pay USD4 million to Chicago Newspaper Liquidation Corp.
Latest News
In accordance with the new free trade zones, China planned to simply its legislation to attract foreign strategic and financial investors.
US anti-trust regulators filed a lawsuit against US Airways and American Airlines' USD11 billion merger saying that the deal would only result to higher air fares, service reduction and a strangled competition in the industry.
China announced its plans of easing laws for foreign investors in its free trade zones. China has planned to ease laws on foreign investment in the country's new free trade zones.
China would be giving perks for foreign and private investors interested in providing elderly care services and facilities in the country.
Prime Minister Manmohan Singh of India said the country will not replaying the crisis that occurred in 1991 even as it experiences its slowest growth in a decade.
Obama reopened issue on Fannie Mae and Freddie Mac to spur delayed housing policies reforms. US President Barack Obama recently revisited the issue on the need for major reforms on the housing market policies.
North and South Korea announced that they had agreed to reopen the Kaesong industrial complex, which was closed when tensions grew between the two countries in April.
US Airways and American Airlines promised to fight the antitrust lawsuit filed by the US Department of Justice, of which halted the airline companies' USD 11 billion merger.
A Gotland District Court Judge ruled to convict an 18 year old male for sending a friend request in social networking site Facebook.
