China to probe use of foreign currency in trade finance
BEIJING (Reuters) – Chinese regulators will clamp down on banks’ and companies’ use of foreign currency for trade finance by ensuring that trade deals are authentic and by monitoring for unusual cross-border cash flows, state media reported.
ThyssenKrupp says keeping its European steel unit
FRANKFURT (Reuters) – Germany’s ThyssenKrupp is holding on to its Steel Europe business, a company spokesman said on Saturday, responding to speculation that a sale could help its current restructuring efforts.
Nobel economics winner Fama says risk of global recession in 2014
STOCKHOLM (Reuters) – One of the three Americans who won this year’s Nobel prize for economics said bloated public deficits on both sides of the Atlantic meant that recession remained a real risk for 2014.
Bank of Japan Governor Kuroda warns against overly complex forward guidance
TOKYO (Reuters) – Bank of Japan Governor Haruhiko Kuroda said central banks should avoid offering overly complicated forward guidance on their policies, warning that doing so could disrupt financial markets and prove to be counter-productive.
WTO overcomes last minute hitch to reach its first global trade deal
NUSA DUA, Indonesia (Reuters) – The World Trade Organization reached its first ever trade reform deal on Saturday to the roar of approval from nearly 160 ministers who had gathered on the Indonesian island of Bali to decide on the make-or-break agreeme…
AT&T aims to sidestep shareholder request on surveillance data
(Reuters) – AT&T has asked regulators to let it ignore a shareholder request for details of its customer-information sharing with government agencies, a move that could forestall a heated debate at the telecommunications giant’s annual meeting.
LA sues Bank of America, alleges discriminatory mortgage lending
(Reuters) – The city of Los Angeles has filed a lawsuit against Bank of America in U.S. federal court in California, accusing it of discriminatory mortgage lending in the city’s minority communities.
CFTC chief said to win Volcker rule ban for foreign banks: Bloomberg
(Reuters) – Commodity Futures Trading Commission chief Gary Gensler has convinced regulators to insert new language into the Volcker rule restricting foreign banks from evading the rule, Bloomberg reported on Friday.
JPMorgan in talks with U.S. Attorney over Madoff warnings: WSJ
NEW YORK (Reuters) – The U.S. Attorney’s Office in Manhattan is looking into why JPMorgan Chase & Co did not file a suspicious activity report about Bernard Madoff before he was arrested for running a multibillion-dollar Ponzi scheme, the Wall Street Journal reported on Friday, citing people close to the probe.
Fed seen getting QE3 wind down underway no later than March: Reuters poll
NEW YORK (Reuters) – The Federal Reserve will start reducing its massive bond-buying program no later than March, according to a Reuters poll on Friday, with a handful of Wall Street firms expecting the U.S. central bank taking action as early as Decem…
