Small banks cheered as US authorities drafts tough rules for Wall Street. After a vote, the Federal Reserve Bank decided in favor of the US version of global Basel III capital rules.
North America
A. Schulman withdraws bid for Ferro, shares nose dive
A. Schulman Inc dropped its bid for Ferro worth US$563 million after being ignored for months. A. Schulman Inc, a chemical producer, announced that it withdrew its bid for Ferro Corp.
FCC approves Sprint deals
The FCC approved Sprint's acquisition of Clearwire and SoftBank's investment on Sprint. After a unanimous vote, the Federal Communications Commission announced that it approved the transactions between SoftBank Corp, Sprint Nextel Corp.
Bond yield spike means 'prepare' - Investors
Investors said that the bond yield spike brought about by new jobs are signals to prepare their portfolios.
IRS suggests reform to US$2.6 trillion money market fund industry
The IRS proposed reform for the money market fund industry is set to tackle tax matters. On Wednesday, the US Internal Revenue Service recommended new regulations.
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US investment industry continued to resolve the problems on ethics and costs amidst controversies. An average of US$8 million would be spent by Wall Street's brokerages.
The Investment Company Institute recorded US$28.1 billion withdrawals from bond reserves. Investors in mutual funds headquartered in the United States withdrew US$28.
Valeant Pharmaceuticals and energy sector boost TSX The Toronto Stock Exchange's S&P/TSX composite index, Canada's main stock index, hit 12,217.
The US$2.25 trillion hedge fund industry continued to be hit by June sell-off because of Fed Chairman's remarks.
Lululemon was sued for fraud over sheer yoga pants and its CEO sudden resigned. The CEO of Lululemon Athletica Inc. suddenly decided to resign from her position.
Developing countries are in a bind with high yield returns for bonds Developing countries are finding themselves in market situations that are leaving them high and dry.
According to a new accounting rule, pensions were in bad shape. According to a new accounting rule that would take effect next year, US pensions were only 60% funded in 2012.
Michael Wekerle obtained Difference Capital Financial Icc's Convertible Unsecured Subordinated Debentures for US$10.75 million.
ICI reported to the Federal Reserve a rise in total money market mutual funds The Investment Company Institute (ICI) issued a report for money market mutual funds assets: "Total money market mutual fund assets increased by $12.
