Search Results for: US authorities
Mergers: Commission opens in-depth investigation into acquisition of oilfield service provider Baker Hughes by Halliburton
January 13th, 2016
The European Commission has opened an in-depth investigation to assess whether the proposed acquisition of oilfield service supplier Baker Hughes by rival Halliburton would impede effective competition in breach of the EU Merger Regulation. Both companies are US-based. Commissioner ...
China names central bank deputy governor as new forex boss
January 13th, 2016
China’s cabinet has named Pan Gongsheng, a deputy governor of the country’s central bank, as its new top foreign exchange regulator to manage the country’s currency reserves and steer yuan reforms. Pan will replace Yi Gang as head of ...
More foreign institutions allowed on China’s forex market
January 13th, 2016
China’s central bank allowed more overseas central banks and similar institutions to enter the country’s inter-bank foreign exchange market on Tuesday. Seven such institutions completed registration with the China Foreign Exchange Trading System, which signaled their official access to ...
Chinese regulator asks banks to cut wealth management yields
January 12th, 2016
China‘s banking regulator and main bond clearinghouse have asked commercial banks to reduce rates they offer on high-yielding wealth management products (WMPs), five sources told Reuters, an apparent back-pedalling on commitments to let markets price credit. The move to ...
U.S. Supreme Court rejects former UBS executives’ appeals
January 12th, 2016
The U.S. Supreme Court on Monday declined to hear an appeal filed by three former executives of Swiss global investment bank UBS AG (UBSG.VX) convicted of conspiring to deceive U.S. cities and towns by rigging bids to invest municipal ...
HMRC: Lin Homer to step down as HMRC CEO in April
January 12th, 2016
Lin Homer has announced today that she is to leave HM Revenue and Customs (HMRC) in April, after more than four years as Chief Executive and Permanent Secretary and a public service career spanning 36 years. Lin Homer joined HMRC in ...
Commission concludes Belgian “Excess Profit” tax scheme illegal; around €700 million to be recovered from 35 multinational companies
January 11th, 2016
The European Commission has concluded that selective tax advantages granted by Belgium under its “excess profit” tax scheme are illegal under EU state aid rules. The scheme has benefitted at least 35 multinationals mainly from the EU, who must ...
Twitter files lawsuit against Turkish fine
January 11th, 2016
Twitter files lawsuit against Turkish fine over ‘terrorist propaganda’ – source Micro-blogging site Twitter filed a lawsuit in an Ankara court on Thursday, seeking to annul a fine by the Turkish authorities for not removing content Turkey says is ...
ESMA to Cooperate with Canadia and Swiss Regulators on CCPS
January 8th, 2016
The European Securities and Markets Authority (ESMA) has established three Memoranda of Understanding (MoUs) under the European Markets Infrastructure Regulation (EMIR). The MoUs establish cooperation arrangements, including the exchange of information, regarding Central Counterparties (CCPs) which are established and ...
Dow Tumbles Nearly 400 Points on China Worries
January 8th, 2016
Dow industrials, S&P 500 are off to their worst-ever starts to the year The Dow Jones Industrial Average fell nearly 400 points Thursday as steep falls in Chinese equities spilled over to global markets. Thursday’s selloff came after the ...
