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.
Industry
Elliot Blasts Hess Corp's Two Director Offer
Elliot Management calls the offer of Hess Corp of two directors a "PR stunt". In a bid to appease Elliott Management, Hess Corp has offered the maverick investment fund two seats on the board.
Glass Lewis Recommends No to Shareholders
Glass Lewis recommends to shareholders not to vote for proposed executive compensation package. According to proxy advisory firm Glass Lewis, shareholders of Goldman Sachs Group Inc should vote against the proposed executive compensation as the board has 'failed to link pay with performance'.
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.
Glencore orders work stoppage at Balaclava Island terminal
Glencore Xstrata decides on work stoppage to cut costs amidst falling demand and declining prices for coal in the world market.
Latest News
Bloomberg, in a response to a complaint made by Goldman Sachs, removes reporters access to its terminals.
Bloomberg CEO Daniel Doctoroff called the access to journalists fiasco a 'mistake'. Bloomberg LP CEO Daniel Doctoroff said, after receipt of reports that users of the company terminals were investigating potential leaks of information, said that the company committed a 'mistake' by providing journalists access to data on a client's terminal usage.
Gulf coast countries, wary of the Euro Debt crisis and other factors, are choosing to invest at home rather than overseas.
Swiss Finance Minister said that the government would be debating on the issue of bank secrecy on two specific points.
Host British finance minister said that the G7 officials meeting is aimed to discuss continued reforms.
The EBRD is thinking of going directly to the small business man to help jumpstart the European economy.
German exporters face tough hurdle because of the Yen's continued depreciation. The big exporters of Germany are facing a new difficulty from its Japanese competitors following the quick depreciation of Yen as against the Euro.
Delinquent loans from many countries from the former Soviet bloc are impeding the growth and development of these countries and the region.
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.
