BB&T Corp lost a USD 772 million tax refund case against the IRS. Financial holding firm BB&T Corp lost a USD 772 million tax shelter case with the US Internal Revenue Service (IRS).
Legal & Regulatory
EU agreements no threat to Russia according to Ukraine's PM
Mykola Azarov, the Ukranian PM, assured Russia that the EU agreements are no threat to Russia. The prime minister of the Ukraine reached out to Russia to allay fears as to Kiev's plans of signing a free trade agreement with the European Union.
Senator questions privacy of Apple's iPhone 5S fingerprint technology
Senator Al Franken wrote a letter to Apple's Head Tim Cook to raise concerns about the fingerprint scanning technology of the iPhone 5S.
India plastics duties on imported materials sought revised
Claiming survival of the local industry, the All India Plastics Manufacturers Association has written to the Indian Finance Minister to revise the import duties on plastics.
India's rule on new airlines may be modified soon
The influx of major global airlines moved the Indian government to review its existing requirements for airlines to be allowed to fly international routes.
Latest News
Chinese authorities warned potential problems the Chinese banks could face if they don't beef up their capital requirements but Factbox figures from Reuters revealed a different scenario.
The Philippine government presented opportunities for investments in the country to Chinese investors at the CAEXPO.
The US government inked a USD 4 billion missile defense contract with Lockheed Martin. Pentagon announced that it had finalized a deal with weapons contractor Lockheed Martin to provide more missile defense equipment to the US and the UAE.
Hedge funds that gambled on Lehman Brothers expected huge payouts as administrators finished recovering assets.
A Reuters analysis revealed that Beijing was looking to private capital to strengthen the balance sheets of Chinese banks.
European Commissioner Algirdas Semeta said work would continue on the proposed financial transaction tax.
The Federal Trade Commission stamps seal of approval for the acquisition of Arbitron, the radio audience measuring firm, by Nielsen, the television measuring giant.
The Commodities Futures Trading Commission had announced the approval of the applications to operate swap execution facilities for TruEX Group LLC and IntercontinentalExchange Inc.
Germany's new leaders after its recent elections would reflect the future of not only the country but of the EU as well.
