The U.S. securities and commodities regulatory agencies pushed the congress to increase their budget. They argued that more fund is needed to do their functions in the growing financial markets and technology in recent years.
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US Appeal Court Frees Argentina To Raise Capital From Global Capital Market
A US appeal court has verdict on Wednesday upholding previous ruling by the District Judge regarding lifting injunction for Argentina in entering global capital market. The ruling allows the South American nation to enter the capital market just after 15 years. It appears as a great success for the incumbent Argentine President who has come to power with promise to settle the default debt status.
China and Hong Kong Indexes Retracted Following Latest Economic Data
China's stock market slipped on Friday, as the country reported the economic growth is in accordance with analysts prediction. While investors expected a stronger result.
Financial Sector Led Rally in Wall Street as Global Stocks Peaked to Highest Level
Wall Streel indexes continued to stay in positive territory as financial sector was catching up. Global stock market responded and climbing to the highest level in 2016.
The U.S. Justice Department Sued ValueAct for Violating Disclosure Rule
Department of Justice filed lawsuit against ValueAct Capital last week, related to Halliburton and Baker Hughes merger. Meanwhile, ValueAct on Monday claimed no wrongdoing and will defend its position.
Latest News
Medical marijuana will be legalized after Gov. Wolf signs the bill on Sunday after the 149-46 vote in favor of marijuana legalization. However, it will take about two years before sufferers of acute ailment can get advantage of the benefits because of the several processes including regulatory and growing process.
Alibaba is about to acquire Singaporean start-up Lazada for about $1 billion that was established by the German technology Rocket Internet. Existing shareholders including Tesco, AB Kinnevik and Rocket Internet will sell a portion of their shares to Alibaba.
Deutsche Bank has primarily agreed settling lawsuit centering ‘Silver Fix’ scam on Wednesday. Under the agreement, the German bank will have to count monetary penalty while helping the plaintiff investors in suits with other banks. Both the agreed parties have declined to elaborate terms and conditions for this accord.
China Securities Finance Corp (CSF), usually called by its nickname King, has disclosed trading secrets. CSF has invested in over 600 firms, ranking among the top 10 shareholders.
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.
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.
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.
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.
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.
