NYSE proposes ‘kill switch’ to help catch trading errors
NEW YORK (Reuters) – IntercontinentalExchange Group’s NYSE Euronext unit has filed a plan with regulators to offer firms that trade on the New York Stock Exchange a “kill switch” that could cut off trading if preset levels were breached.
Fed proposes rule to scale back emergency lending powers
WASHINGTON (Reuters) – The U.S. Federal Reserve Board of Governors unveiled a proposal on Monday that would limit the scope of its authority to bail out a large financial company on the brink of collapse through its emergency-lending programs.
BNY Mellon cuts fees to settle Massachusetts forex case
BOSTON (Reuters) – Bank of New York Mellon Corp will cut fees by $15.45 million to resolve a Massachusetts complaint over its handling of foreign exchange transactions, state officials said on Monday.
U.S. funeral firm agrees to sell assets as part of $1.4 billion deal: FTC
(Reuters) – The largest U.S. provider of funeral and cemetery services has agreed to sell some of its assets to resolve federal charges that a proposed $1.4 billion deal to buy a smaller rival would substantially lessen competition in the industry.
Jos. A. Bank rejects Men’s Wearhouse takeover offer
(Reuters) – Jos. A. Bank Clothiers Inc has rebuffed a $1.5 billion takeover bid by Men’s Wearhouse Inc , prompting its larger rival to explore other ways to satisfy investors’ hunger for a merger of the suit retailers.
French strike keeps a third of oil refining sector shut
PARIS (Reuters) – A strike at three of Total’s five oil refineries in France held firm for an 11th day on Monday, but the risk of a repeat of fuel shortages seen during a 2010 walkout receded after staff at a fourth plant returned to work on Sunday.
Confident consumers brighten economic outlook
WASHINGTON (Reuters) – Consumer sentiment hit a five-month high heading into the end of the year and spending notched its strongest month since the summer, the latest signs of sustained vigor in the economy that are fostering hopes of a strong 2014.
Mechel plans 2014 asset sales to cope with $2 billion debt
MOSCOW (Reuters) – Loss-making Russian coal miner and steelmaker Mechel plans to raise around $1 billion from the sale of assets in 2014 which would help it to offset $2 billion debt it has to repay next year, the company said on Monday.
SEC revives insider trading suit over Onyx shares
(Reuters) – U.S. securities regulators have filed a new lawsuit accusing two Dubai residents of illegally trading in Onyx Pharmaceuticals Inc stock based on inside information, one month after a federal judge dismissed an earlier version of the lawsuit…
Morgan Stanley to sell India mutual funds assets to HDFC
MUMBAI (Reuters) – Morgan Stanley is selling its Indian mutual fund assets to a joint venture between India’s HDFC and Britain’s Standard Life , becoming the latest foreign asset manager to quit India.
