U.S. banks may get power to challenge money laundering exams
WASHINGTON (Reuters) – Wall Street banks could get greater power to fight back against bad report cards on their efforts to combat money laundering under a proposal being discussed by U.S. regulators and the financial industry.
EU leaders promise jobs for ‘lost generation’ of youth
PARIS (Reuters) – European leaders pledged on Tuesday to make fighting youth unemployment in the bloc a priority but came up with no new ideas to tackle a problem that risks fuelling social unrest and distrust of mainstream parties.
Some U.S. brokers still need buffers against trading errors: regulators
NEW YORK (Reuters) – Some brokerages still do not have proper buffers in place to protect against technology errors or rogue algorithms which could rile markets, although many have improved their compliance with new rules, U.S. regulators said on Tuesd…
Mexico becoming Nissan’s export hub for Americas: CEO
AGUASCALIENTES, Mexico (Reuters) – Japan’s Nissan Motor Co Ltd will be producing 1 million cars in Mexico by 2016, cementing Mexico’s position as export hub for Nissan in the Americas, Chief Executive Carlos Ghosn told Reuters on Tuesday as he inaugura…
Exclusive: Cisco rival Arista Networks picks banks for IPO – sources
NEW YORK (Reuters) – Arista Networks, a maker of network switches that competes with much bigger rival Cisco Systems Inc, has selected banks to lead a proposed initial public offering for next year, according to people familiar with the matter.
Men’s Wearhouse will review merger offer, investor says
NEW YORK (Reuters) – Men’s Wearhouse Inc said it would review a previously rejected merger with Jos. A. Bank Clothiers Inc and a return of capital to shareholders, major investor Eminence Capital LLC said on Tuesday.
Analysis: Wall Street sees social-impact bonds as way to do good and do well
NEW YORK (Reuters) – Wall Street banks are eyeing a nascent market that improves their public image at a low risk and still offers them a reasonable return on capital.
Swiss prosecutors probe former UBS banker turned U.S. informant
ZURICH (Reuters) – Switzerland’s prosecutor said it is investigating former UBS banker Renzo Gadola, who received a light sentencing in the U.S. two years ago in return for becoming a informant on wealthy American tax cheats.
Emerging economies to suffer more from U.S. taper: World Bank’s Kim
WASHINGTON (Reuters) – Emerging markets are likely to see considerably more impact from higher U.S. interest rates when the Federal Reserve pulls back from its massive monetary stimulus, World Bank President Jim Yong Kim said on Tuesday.
Cyber attack ‘war game’ tests London banks
LONDON (Reuters) – A cyber attack on financial markets played out in one of London’s historic halls on Tuesday in a “war game” simulation designed to test the City’s defenses against online saboteurs.
