Hundreds rush to rural Chinese banks after solvency rumors
SHANGHAI (Reuters) – Hundreds of people rushed on Tuesday to withdraw money from branches of two small Chinese banks after rumors spread about solvency at one of them, reflecting growing anxiety among investors as regulators signal greater tolerance fo…
Eyeing Alibaba IPO, bankers skipped lucrative mandates
HONG KONG (Reuters) – Every big bank in town wanted a piece of the Alibaba Group Holding Ltd initial public offering, set to be the biggest technology listing ever.
Morgan Stanley investors await Fed’s buyback blessing
NEW YORK (Reuters) – Morgan Stanley shareholders will find out this week whether the U.S. Federal Reserve will allow the bank to start returning capital to shareholders in a meaningful way for the first time since the financial crisis.
U.S. prosecutors eye new approach on company misconduct after Toyota
WASHINGTON (Reuters) – U.S. prosecutors are considering using the legal theory behind a $1.2 billion penalty imposed on Toyota to go after misconduct in industries ranging from auto and airplane makers to mining, a Justice Department official told Reut…
Mexico telecoms bill has powers to tame Slim, Televisa
MEXICO CITY (Reuters) – Mexico’s government on Monday proposed giving a new regulator wide-reaching powers to police the operations of dominant telecommunications companies and TV broadcasters, right down to their prices and discounts.
Former Madoff associates found guilty of fraud
NEW YORK (Reuters) – Five former aides to investment manager Bernard Madoff were convicted on Monday of charges that they helped their boss conceal his multibillion-dollar Ponzi scheme for years.
SEC probes banks and companies in loan securities dealings: WSJ
(Reuters) – The U.S. Securities and Exchange Commission has launched an investigation into the increasing number of complex bond deals on Wall Street that may create new opportunities for fraud, the Wall Street Journal reported on Monday.
S&P cuts Brazil credit rating in blow to Rousseff
BRASILIA (Reuters) – Standard & Poor’s cut Brazil’s sovereign debt rating closer to speculative territory on Monday in a blow to President Dilma Rousseff, whose efforts to stir the economy from a years-long slump have eroded the country’s finances.
LightSquared asks court not to re-open trial with Ergen
NEW YORK (Reuters) – Broadband company LightSquared has urged a judge not to re-open a trial that ended last week over Dish Network Corp Chairman Charles Ergen’s purchase of LightSquared debt, saying it would delay resolution of LightSquared’s bankrupt…
Brazil scrambles to avoid power rationing as costs soar
RIO DE JANEIRO (Reuters) – Brazil is fighting against time to avoid crippling power blackouts and electricity rationing as a drought prevents the world’s most water-rich nation from recharging its hydroelectric dams.
