On Monday, World Bank’s Chief Financial Officer said that the bank had planned to cut USD400 million from its budget as a part of a sweeping reorganization.
Legal & Regulatory
Email of Mark Cuban presented as evidence
Mark Cuban's insider trading trial saw emails he sent to then UBS SVP Charles McKinney support earlier testimony made by the Dallas Mavericks owner.
Canada blocks acquisition of fiber optic network by Sawiris controlled corporation
Citing the national security provisions of the Investment Canada Act, the purchase of Accelero of the fiber optic network owned by MTS Allstream was blocked by the Canadian government.
Montreal, Maine & Atlantic Railway hires Gordian Group for potential sale
Montreal, Maine & Atlantic Railway Ltd. had hired Gordian Group LLC to sell the carrier, said a Bloomberg report.
Hope glimmers amid US partial shutdown
A few glimmering hope had surfaced on Monday in the middle of the US partial shutdown as US President Barack Obama said he would accept a short term increase in the nation's debt ceiling, said a Reuters report.
Latest News
Billionaire Mark Cuban said during a court trial last Monday that the stake he sold from an Internet search firm was long been planned.
Former World Bank President Robert Zoellick would rejoin investment bank Goldmans Sachs Group as chairman for its international advisory board, said a Reuters report.
Vodacom Group, MTN Group and Telkom would have their respective fortunes change because of the latest regulatory guidelines issued in South Africa.
The dismissal, which is a win for telephone companies, upheld the FCC mandated rules on fees charging and infrastructure use.
With the US government's partial shutdown, talks between US and EU regarding the creation of the biggest free trade zone in the world scheduled next week in Brussels had been scrapped, said a Reuters report.
Ben Venue was required by court to comply with good manufacturing standards set. The local unit of German pharmaceutical firm Boehringer Ingelheim, Ben Venue Laboratories Inc.
The naivete of Volkswagen was called out by Tennessee Republican Senator Bob Corker. Tenesseee Republican Senator Bob Corker issued a warning to Volkswagen AG if the German carmaker allows the United Auto Workers to represent its workers, it would be its 'biggest mistake', The remarks were quoted by German newspaper Handelsblatt.
A default would bring catastrophic results to the world economy. The world is anticipating the showdown on Capitol Hill over the US federal budget and debt ceiling.
The United States of America had moved closer to reaching a first ever default on the nation's debt after House Speaker John Boehner ruled out a straightforward bill to increase the country's borrowing limits without approval from the US President, said The Economic Times report.
