Five Large US Banks Do Not Have Sufficient Plan for Crisis Due to Lack of Information
GAO suggested financial regulators to disclose more information on their crisis policy framework. While five large banks do not have enough plan to manage operation during crisis.
Apr 14, 2016 7:13 AM EDT
Israel Antitrust Authority Opposed Acquisition of Golan Telecom
Cellcom Israel Ltd on Tuesday announced that regulators opposed its merger plan with Golan. However, Antitrust Authority will invite the companies representative to discuss the deal before making final decision.
Steel demand across the globe to decline 0.8%
Demand for steel across the globe is expected to decline 0.8% to 1,488 million tonnes in 2016, according to the World Steel Association. The association expects steel demand in China, the largest consumer, to fall 4% in 2016 tailed by a 3% decline in 2017, reaching 626.1 million tonnes in 2017.
Largest US Coal Miner Peabody Finally Files For Bankruptcy Ending Prolonged Speculations
The largest coal miner in the US has sought protection under bankruptcy law on Wednesday ending speculations over its future. The filing has been acknowledged as the largest bankruptcy case by liabilities during this year. With this filing, a century old publicly traded company is going to shutting down its operations in the US.
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London and European Stock Market Rallied Following Surge of China's Export
London's FTSE 100 rose on Wednesday to reach record high. European shares continued its rally led by mining stocks as China reported increase of export.
Apr 14, 2016 7:02 AM EDT
SEC Files Fraud Charges Against Fired ConvergEx Executive Basilly Years After His Dismissal
SEC has filed a lawsuit against former ConvergEx exec Basilly on Tuesday on the allegation of defrauding traders. Prior to that, ConvergEx has admitted wrongdoing through its several units and counted penalty of $150 million to the regulators. However, his lawyer claims innocence rejecting all allegations and cites that Bassily has acted as per ConvergEx approved business model.
Apr 14, 2016 7:00 AM EDT
Regulators Said Takata Still Need To Recall 85 Million Airbags
US safety regulator announced Wednesday that Takata still need to recall its defective airbags. NHTSA said unless Takata proved them to be safe, all remaining airbags in US vehicles must be recalled eventually.
Apr 14, 2016 6:54 AM EDT
EU Privacy Regulators Request Changes in EU-US Data Transfer Agreement
WP29 on Wednesday was calling for changes in the commercial data transfer agreement between US and EU. The agency said it does not provide enough protection for privacy for European users.
Apr 14, 2016 6:52 AM EDT
Energy stocks propels Wall Street profits following oil price rally
Wall Street ended higher on Tuesday trading session as energy stocks rallied helped by increasing crude prices. The US crude prices reached its new height in 2016.
Apr 13, 2016 8:06 AM EDT
US March budget deficit increases to $108 billion
The US government faced a steady increase in March budget scarcity, leading to a higher deficit in the first half year period compared to the previous year period.
Apr 13, 2016 8:03 AM EDT
Honda's sales rise in Indian markets, but Hero still ranks No 1
Honda, the Japan-based automaker, widened its sales portfolio to a robust 4,500 touch points from nearly 800 outlets. Honda's market share increased to 26% from 15% at the end of March 2011.
Apr 13, 2016 8:00 AM EDT
Microsoft Became The First Major U.S. Tech Company to Endorse Privacy Protection Pact With the EU
Microsoft has became the first major U.S. tech company to endorse the Privacy Shield agreement between EU and the U.S. The company agreed to discuss the framework of data protection further with the EU officials soon.
Apr 13, 2016 7:56 AM EDT
Uber Received Hundreds of Data Request on Its Riders and Users From US Law Enforcements and Regulators
Uber revealed that it has received too much data request from US law enforcement agencies and regulators. The company has provided information on its riders and drivers for most requests after reviewing its legal framework.
Apr 13, 2016 7:54 AM EDT
California Judge Agreed Charter's Acquisition of Time Warner Cable With Conditions
The decision was announced on Tuesday. California administrative law judge recommended to approve acquisition of Time Warner Cable by Charter Communications with significant conditions.
Apr 13, 2016 7:50 AM EDT
Goldman Sachs to Pay $5 Billion Settlement Over Troubled Mortgage-Backed Securities
The lender must pay settlement for its misconduct in selling securities backed by troubled mortgage in 2008. The agreement reached Monday.
Apr 13, 2016 7:47 AM EDT
EU Resumed Investigation on Halliburton and Baker Hughes Deal
European Union antitrust regulator resumed its review on the takeover of Baker Hughes by Halliburton. European Commission plan to reach decision in August whether to approve or veto the deal.
Apr 13, 2016 7:44 AM EDT
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