Regulator gives big banks two years to push out swaps trading
WASHINGTON (Reuters) – U.S. officials will give JPMorgan Chase, Citigroup, Bank of America and several other big firms two years to comply with a controversial Dodd-Frank requirement that they push some swaps trading out of the bank.
Affiliates of electric car maker Coda file for bankruptcy
(Reuters) – Two affiliates of failed U.S. electric-car maker Coda Automotive filed for chapter 11 bankruptcy protection on Tuesday, according to court documents, in another sign of the challenges facing the “green” car industry.
U.S. tech firms push for government transparency on security
(Reuters) – Three of the largest Internet companies called on the U.S. government to provide greater transparency on national security requests on Tuesday, as they sought to distance themselves from reports that portrayed the companies as willing partn…
Facebook tackles stock price complaints in first shareholder meeting
SAN FRANCISCO (Reuters) – Facebook Inc Chief Executive Mark Zuckerberg faced a barrage of questions on Tuesday about the company’s slumping stock price during the No. 1 social networking company’s first shareholder meeting since its rocky initial publi…
Wall St. slides as BOJ move rattles trading
NEW YORK (Reuters) – Stocks slid in a volatile session on Tuesday after Japan’s central bank disappointed equity markets by holding its monetary policy steady.
GSK fires China research head over ‘misrepresented’ data
LONDON (Reuters) – British drugmaker GlaxoSmithKline has fired its head of research and development in China after discovering that a study by some of its Chinese scientists contained misrepresentation of data.
Royalty pursuing hostile bid for Elan, fights Irish panel ruling
NEW YORK (Reuters) – Royalty Pharma, pursuing a hostile $8 billion takeover of Irish drugmaker Elan Corp Plc, moved on Tuesday to make sure it is not blocked by a potential $200 million share buyback and drug spinoff at the target company.
JPMorgan CEO Dimon defends disclosures in Whale episode
(Reuters) – JPMorgan Chase & Co Chief Executive Jamie Dimon, who won a strong vote of confidence from shareholders last month, on Tuesday defended the disclosures the bank made last year about its unfolding London Whale derivatives loss.
Airbus sets A350 maiden flight for Friday
PARIS (Reuters) – Airbus has chosen Friday for the maiden flight of its newest jet, the A350, the European planemaker said.
Analysis: Is U.S. stock trading safer? Fewer erroneous trades seen
NEW YORK (Reuters) – The water may be safer than many investors thought.
