Abercrombie rejects shareholder call; extends CEO contract
(Reuters) – Struggling teen apparel retailer Abercrombie & Fitch Co said it will extend Chief Executive Mike Jeffries’ contract by at least a year after it expires in February, days after a shareholder urged the company to replace him.
Republican SEC member blasts $13 billion JPMorgan settlement
(Reuters) – A Republican member of the U.S. Securities and Exchange Commission blasted other government regulators on Monday for requiring JPMorgan Chase & Co to pay $13 billion to resolve allegations of mortgage misdeeds tied to the financial crisis.
Watchdog warns of chaos in competing derivatives rules
LONDON (Reuters) – Failure to thrash out a common supervision of the $640 trillion global financial derivatives industry will split markets and bump up costs for end users, a top regulator said on Monday.
Auto bailout saved 1.5 million U.S. jobs: study
DETROIT (Reuters) – The federal bailout of General Motors Co , Chrysler and parts suppliers in 2009 saved 1.5 million U.S. jobs and preserved $105.3 billion in personal and social insurance tax collections, according to a study released on Monday.
SEC official says final Volcker rule ‘significantly different’
(Reuters) – The final version of the Volcker rule to ban banks from gambling with their own money is “significantly different” from the originally proposed version, making its impact on the markets difficult to gauge, a top U.S. securities regulator sa…
Irish bank tests send few signals to anxious EU rivals
LONDON (Reuters) – Banks in Europe, keen for any hints about next year’s industry health check by European regulators, will find few pointers from Ireland’s just-completed review of its three major lenders.
HSBC plays down prospect of listing UK banking arm
LONDON (Reuters) – HSBC played down a report on Monday that it was considering listing a third of its British retail and commercial banking arm in order to meet UK regulation and unlock value for shareholders.
Exclusive: Euro zone bailout fund should be allowed to help close failing banks – document
BRUSSELS (Reuters) – The euro zone’s bailout fund should be allowed to lend to help finance the closure of banks in the bloc, a proposal prepared for euro zone finance ministers showed on Monday.
China to aid ailing shipbuilders with more subsidies
BEIJING (Reuters) – China is handing out new subsidies for buying ships to help its beleaguered shipbuilders, confounding a government pledge to reduce support for sectors with over-capacity in order to reform the economy.
U.S. safety agency may expand Hyundai Elantra airbag recall
(Reuters) – U.S. safety regulators are considering whether to expand a recall of the Hyundai Elantra because the airbags could cause an injury in a side impact accident.
