The world's biggest banks should hold a buffer of bonds in case of a collapse so that government bailouts are avoided, a global regulatory body proposed on Monday.
Legal & Regulatory
FOMC member Charles Plosser: The U.S. Economic Outlook and Monetary Policy Key Points of Speech from UBS European Conference in London
Charles I. Plosser , President and Chief Executive Officer of Federal Reserve Bank of Philadelphia spoke on The US Economic Outlook and Monetary Policy at UBS European Conference, London, England today.
UK, U.S., Swiss close in on forex settlement with top banks
British and U.S. regulators are poised to levy hefty fines on leading banks in a landmark settlement after a year-long global investigation of allegations of collusion and manipulation in the foreign exchange market.
Russian central bank buys up domestic gold output as sanctions bite
Russia's central bank has been forced to step up its gold buying this year to absorb domestic production that Western sanctions are making it hard for miners to sell abroad, and to boost liquidity in its foreign reserves, sources said.
Fed's Rosengren says fight for higher inflation should be vigorous
The Fed should fight low inflation as vigorously as it would a too rapid run-up in prices or risk the same sort of prolonged slow growth plaguing Japan and Europe, Boston Federal Reserve bank president Eric Rosengren said on Monday.
Latest News
China is part of "intensive" talks on a global trade pact regarding information technology products, the World Trade Organization's chief said on Saturday, but it is unclear if a deal will be made at a meeting of Asia-Pacific leaders underway in Beijing.
Brazilian planemaker Embraer SA (EMBR3.SA) said on Saturday that a strike that began this week stopped it from delivering planes, processing bills and conducting other "critical operations" after union workers blocked factory doors.
Philadelphia-area transit workers have voted overwhelmingly to ratify a two-year contract with the local transportation agency, averting a strike that threatened to cripple bus and rail lines and that their union warned would be long and contentious.
Japan's Economy Minister Akira Amari said on Saturday he saw progress in Asia-Pacific regional trade negotiations, although it would be difficult to reach an agreement by the end of the year, according to Jiji press.
The United Nations Security Council imposed targeted sanctions on Friday on Yemen's former President Ali Abdullah Saleh and two senior Houthi rebel leaders for threatening the peace and stability of the country and obstructing the political process.
U.S. authorities said Thursday they have shut down the successor website to Silk Road, an underground online drug marketplace, and charged its alleged operator with conspiracy to commit drug trafficking, computer hacking, money laundering and other crimes.
The U.S. Securities and Exchange Commission will ask a federal judge to more than double the money Texas businessman Sam Wyly must pay from $200 million to $455 million for his involvement in an offshore fraud scheme, a lawyer for Wyly said on Friday.
The European Central Bank is monitoring the liquidity position of the euro zone banks under its supervision on a daily basis, Italian bank Monte dei Paschi di Siena (BMPS.MI) and two other Italian banking sources said on Friday.
Recent U.S. tax changes have weakened the case for companies like Pfizer (PFE.N) to shift their tax bases overseas by striking so-called tax inversion deals, according to AstraZeneca's (AZN.L) chief executive.
