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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.

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JAPAN-AUTO-RECALL-HONDA-TAKATA

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.

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Goldman Sachs Suit May Prompt Wider Probe, Regulation

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.

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USA New York - headquarters of JPMorgan Chase & Co

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.

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Food Packaged

McCormick Withdrew From Premier Foods Acquisition, Bid Too Pricey

McCormick will no longer acquire Premier Foods as it cannot provide the offer acceptable to the latter. Due to failure of the said talks, Premier was left to "fend for itself" for the company's success while seeking alliance with Japan's Nissin Food Corporation.

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Federal Reserve Bank Of San Francisco President John Williams Speaks At UCLA

San Fransisco and Dallas Fed President Expected to See Interest Rate Hike Soon

Two other Fed presidents suggested the US central bank to raise interest rate. San Fransisco's John Williams said two or three rate hike in 2016 is reasonable. While Dallas' Rob Kaplan reminded to be patient.

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Tour Of An Anadarko Petroleum Corp. Rig Site As U.S Crude Inventories Rise

Planning For Output Cap in Oil Production Amid Rising Oil Prices Surprises Analysts

Crude oil prices have been witnessed to drop a little after hitting the four-month high, but still manage a few profits for the Asian oil producers. Amid such market situations, oil producers including Russia and Saudi Arabia have reached a consensus for putting cap on oil production. The output cut decision has surprised the analysts since increased market price naturally boosts up production.

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U.S. Stocks Fall From Record as Microsoft, Google Miss on Profit

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.

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UBS AG Chairman Axel Weber And Bank Of France Governor Francois Villeroy de Galhau Speak At GIC Conference

Two Fed Presidents Supported Rate Hike in the March's Meeting

Richmond and Kansas City Fed President supported to raise the interest rate during the meeting last March. While Philadelphia Fed President on Tuesday reitereated the hike delay is a prudent decision.

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Supreme Court Hears Arguments In Abortion Clinic Access Case

Democrats As Well As Republicans Urges The Texas Attorney General To Step Down

Ken Paxton, the Texan attorney general has been sued on Monday by the US regulators on accusation of playing role in a stock scam. In addition to the civil lawsuit, Paxton has also been sued with criminal charges for defrauding investors. The Texan Democrats as well as Republicans have called for his resignation.

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Key Speakers At The World Economic Forum (WEF) 2016

Dell plans IPO to enhance its bought out SecureWorks' valuation

Dell is mulling over an initial public offer (IPO) for its recently acquired SecureWorks. Dell is also planning to spin off SecureWorks after the IPO which is expected to enhance the valuation of SecureWorks from $154.9 million $1.4 billion.

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GM CEO Mary Barra Holds Press Conference On Ignition Switch Recall

General Motors Wins Fourth Bellwether Lawsuit, Two More Awaits For Disposal

GM has been sued with more than 400 lawsuits over defective ignition switches, of which six have been chosen as bellwether cases. Just after settling the Yingling case last week, the automobile maker has own verdict of another suit in its Favor on Friday. The remaining two damage claims for casualties are expected to get ended by this year.

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Key Speakers At The INTX Internet & Television Expo

Charter Communication CEO Met FCC Regarding Acquisition of Time Warner Cable

Tom Rutledge has met FCC chairman Tom Wheeler last week to talk the acquisition. As the merger has already been past its late March informal deadline for approval.

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Puerto Rico Loses Bid For Restructuring Law as Crisis Mounts

Puerto Rico Central Bank Governor Restricts Withdrawal To Avert Default in $423M Debt Repayment

Alejandro Garcia Padilla, governor of the Puerto Rica’s central bank, Government Central Bank, has announced an executive order on Saturday. The order restricts withdrawal of funds except for the emergency services in a bid to avoid default in $423 debt repayment scheduled on May 1. Analysts have already warned that failure in debt repayment will definitely attract a default status for GDB.

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Janet Yellen Holds News Conference Following FOMC Meeting

Former Top Advisor Proposed Regional Fed Banks To Be Public

Dartmouth College Professor Andrew Levin, former advisor to Janet Yellen made a proposal to reform the Fed. He also suggest the Fed to be reviewed by GAO annually.

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