Bart Chilton, member of the Commodity Futures Trading Commission, said the Volcker rule on proprietary trades will most likely take in effect before 2015, as said in a Reuters report.
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Bitcoin is not a currency - PayPal CEO
PayPal president David Marcus played down the factors Bitcoin obtained in recent months as a potential currency and insisted that it is rather an asset, according to a VentureBeat article.
Akerson leaves GM from bailout to profitability
Detroit-based company said yesterday on a conference call that the departure of its chief executive officer Dan Akerson was personal, as his wife of over 40 years has been diagnosed with advanced cancer.
Leonardo DiCaprio invests in Monaco's Formula E team
Hollywood actor Leonardo DiCaprio has invested an undisclosed amount in Monaco-based electric car startup Venturi Automobiles and co-founded a new electric racing team which will compete in the Formula E series next September.
Indian steel magnate Lakshmi Mittal in talks to buy stake in Delhi Daredevils
Lakshmi Mittal, chief executive officer of ArcelorMittal, is negotiating with infrastructure company GMR Group to acquire a stake in Delhi Daredevils. The cricket team plays in the Indian Premier League.
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Head William Dean Chapman Reston of Virginia-based firm Alexander Capital Markets was found guilty of defrauding its investors including US Representative Alan Grayson of more than USD35 million in a loan scheme, Reuters said in a report.
Yoga-inspired athletic apparel firm Lululemon Athletica said Founder Chip Wilson will be stepping down as Chairman. He will be replaced by Michael Casey, the Lead Director of the Board.
Thomas Moore of Standard Life Investments has increased his fund's holdings in UK companies, betting that they will give better payouts in 2014, a Bloomberg report said.
Howard Chen, an analyst from Credit Suisse, will be joining the bank's Investment Banking Department as the Managing Director and Global Head of Financial Technology and Financial Strategies.
Balaji Srinivasan, the cofounder of genetic-testing company Counsyl, is joining the venture capital firm Andreessen Horowitz as a general partner, Andreessen Horowitz said on Monday.
Food-related companies like Hampton Creek Foods are seeing a rise in financial support from private equity firms and angel investors in the past few months to develop plant-based alternatives to food like eggs.
Bloomberg columnist and money manager Barry Ritholtz said in his column on Bloomberg that the hedge fund industry is saturated with too many funds that are performing fairly and charge high fees in return for their services.
As the Volcker rule for banking and trading is being wrapped up by five US government agencies, politicians and advocates of the controversial Glass-Steagall legislation intended to push a revival of a version of its favored banking act should the former fail to curb risky betting by US banks.
The second fund, which is run by former regional head of New York-based hedge fund Perry Capital LLC Alp Ercil, is targeting to raise USD1.1 billion to invest in distressed assets in Asia.
