In a move to restructure its banking industry, the Greek Central Bank is closing down FBBank. Greece, in a bid for housecleaning, has split one of its smaller lending institutions into 'good' and 'bad' parts.
Legal & Regulatory
Bloomberg Editor in Chief Apologizes
Bloomberg Editor in Chief issues an apology, calling the access as inexcusable. The Editor in Chief of Bloomberg News, Matthew Winkler, apologized Monday for allowing its journalists 'limited access' to sensitive data on how clients utilized the ubiquitous Bloomberg terminals.
Coleman Cannon added to Silicon Legal Strategy
Coleman Cannon adds his expertise to the San Francisco office of Silicon Legal Strategy. Silicon Legal Strategy disclosed today the addition of Coleman Cannon as Senior Associate in its San Francisco headquarters.
China's State Council Orders FDI Regulations Revamp
The foreign exchange regulatory agency of China, upon orders of the State Council, has abolished regulations that lead to red tape and promotes non transparency.
UPDATE: Bloomberg Removes Reporters Access
Bloomberg, in a response to a complaint made by Goldman Sachs, removes reporters access to its terminals.
Latest News
Bloomberg news reporters had access to personal information of those using the news service, leading to ethical issues as to its use.
Wisconsin bill for state backed venture capital fund proposed. A bill whose main provision would place US$25 million in state money to fund start up companies in Wisconsin has passed the first reading in its state legislature.
JAB files for regulatory approval of the offer sheet for DE Master Blenders. Joh A Benckiser, the German food conglomerate, together with other co-investors are preparing to apply for regulatory approval of their offer sheet to purchase Douwe Egberts Coffee.
John Hancock and sister Bianca Rinehart sues to remove their mother as trustee of the Hope Margaret Hancock Trust.
Former Enron CEO Jeff Skilling is set to be released from prison by 2018 because of an agreement with federal prosecutors.
Due to issues on informal settlers, trees and others, the construction of the Posco steel plant has been suspended.
Orsi, arrested for the India helicopter scam, was released pending trial. Former Finmeccanica CEO has been released from jail pending trial on charges of corruption next month.
Asian nations issue statement to avoid mistakes that lead to 1997 currency crisis. Major regional economies in Asia need to be on guard against execssive risks and asset bubbles boosted by efforts of central banks efforts to build economic growth.
Credit Suisse files suit against former employee that jumped ship to rival Goldman Sachs. Credit Suisse Group AG has filed suit against its former vice president for emerging markets group on the grounds she stole confidential documents and trade secrets prior to her transfer to Goldman Sachs.
