Former press mogul Conrad Black was barred from directorships by the US Securities and Exchange Commission and ordered him to pay USD4 million to Chicago Newspaper Liquidation Corp.
Legal & Regulatory
Ten more Slovenian banks subject to state bank stress tests
Ten more Slovenian banks would undergo external stress tests commissioned by the Slovenian central bank.
New banking regulation causes Turkish equities to fall
Banking regulations discouraging excessive use of retail credit cards caused Turkish equities to drop.
Fonterra counters Sri Lanka ban on dairy
Fonterra negated the Sri Lankan ban of the company's dairy products. Top dairy exporter, Fonterra of New Zealand, cried foul over the banning of its products in Sri Lanka last Friday.
JPMorgan under investigation for recent hires
JPMorgan Chase is being investigated by the SEC for possible wrongdoing. The anti-bribery unit of the US Securities and Exchange Commission is conducting an investigation as to the allegations that JPMorgan Chase & Co had hired the children of Chinese officials to boost its business.
Latest News
China launched a fresh three-month slate to intensify its probe against rampant bribery in the medical services and pharmaceutical sectors in the country, according to the official Xinhua news agency.
A newspaper reported that German regulator BaFin probed Deutsche Bank over its anti-money laundering control.
Greek politicians are coming to a head on the issue of home foreclosure auctions. Greece would be lifting its restrictions on the implementation of home foreclosures in order to give banks the leeway to recover its bad loans.
In accordance with the new free trade zones, China planned to simply its legislation to attract foreign strategic and financial investors.
US anti-trust regulators filed a lawsuit against US Airways and American Airlines' USD11 billion merger saying that the deal would only result to higher air fares, service reduction and a strangled competition in the industry.
China announced its plans of easing laws for foreign investors in its free trade zones. China has planned to ease laws on foreign investment in the country's new free trade zones.
China would be giving perks for foreign and private investors interested in providing elderly care services and facilities in the country.
Prime Minister Manmohan Singh of India said the country will not replaying the crisis that occurred in 1991 even as it experiences its slowest growth in a decade.
Obama reopened issue on Fannie Mae and Freddie Mac to spur delayed housing policies reforms. US President Barack Obama recently revisited the issue on the need for major reforms on the housing market policies.
