Former Enron CEO Jeff Skilling is set to be released from prison by 2018 because of an agreement with federal prosecutors.
Legal & Regulatory
G7 officials meet to discuss continued reforms
Host British finance minister said that the G7 officials meeting is aimed to discuss continued reforms.
Greece's FBBank to be Wound Down
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.
Bloomberg Terminal Access Deplored
Bloomberg news reporters had access to personal information of those using the news service, leading to ethical issues as to its use.
Bill for Venture Capital Money Passed
Wisconsin bill for state backed venture capital fund proposed. A bill whose main provision would place US$25 million in state money to fund start up companies in Wisconsin has passed the first reading in its state legislature.
Latest News
Due to issues on informal settlers, trees and others, the construction of the Posco steel plant has been suspended.
Orsi, arrested for the India helicopter scam, was released pending trial. Former Finmeccanica CEO has been released from jail pending trial on charges of corruption next month.
Asian nations issue statement to avoid mistakes that lead to 1997 currency crisis. Major regional economies in Asia need to be on guard against execssive risks and asset bubbles boosted by efforts of central banks efforts to build economic growth.
Credit Suisse files suit against former employee that jumped ship to rival Goldman Sachs. Credit Suisse Group AG has filed suit against its former vice president for emerging markets group on the grounds she stole confidential documents and trade secrets prior to her transfer to Goldman Sachs.
GE obtains approval from the Federal Trade Commission for its purchase of Lufkin pumps. General Electric Co obtained antitrust approval to purchase oilfield pump manufacturer Lufkin Industries Inc.
OfficeMax faces suit from investor for breach of fiduciary duties. An OfficeMax Inc shareholder has filed suit against the directors of the company as it seeks to stop the takeover by Office Depot Inc.
BlackRock, the top money manager of the world, to hire 300 lawyers to monitor financial regulation all over the world.
Brown Vitter seeks to remove the issues created in the banking world that Dodd Frank started. How the tides have turned. A year ago, the big US banks lobby was focused on the amendment and/or total repeal of the Dodd-Frank financial reform law.
Bafin, the German financial markets watchdog, clears German Bank directors of any wrongdoing. Bafin, the German financial market regulator, have not come up with any proof that the directors of the German Bank are behind the manipulation of the standard interest rates, according to a top official of Bafin that the Wall Street Journal Deutschland had spoken with over the weekend.
