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.
Legal & Regulatory
BaFin probes Deutsche Bank money laundering control
A newspaper reported that German regulator BaFin probed Deutsche Bank over its anti-money laundering control.
Greece at crossroads for freeze on home foreclosures
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.
China to simplify investment rules to attract foreign investment
In accordance with the new free trade zones, China planned to simply its legislation to attract foreign strategic and financial investors.
Regulator files lawsuit against US Airways - AA merger
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.
Latest News
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.
The Public Company Accounting Oversight Board gave a new proposal allowing auditors to give their commentary on "critical audit matters" in their audit reports.
A Florida federal judge dismissed the lawsuit against the US Securities and Exchange Commission for its alleged failure to report Allen Stanford's Ponzi scheme to Securities Investor Protection Corp.
Retail sales in the US rose in July, signifying better times for the US economy. The Commerce Department revealed that US retail sales rose to 0. 2% in July.
A US regulator subpoenaed major metal warehousing firms after an alleged restriction of material inflated prices.
US District Judge William Alsup said singer songwriter Chubby Checker could sue Hewlett Packard Co for infringing his trademarked name.
