Government
Internationalizing China’s Yuan Could Bring ‘Seismic Shift’ to Global Financial Landscape
China realizing its ambitions to internationalize the yuan is likely to be a "seismic event" for global markets, leading to large capital flows and perhaps a new reserve currency, a top Australian ...
MetLife CEO Frustrated with Regulatory Uncertainty On Capital Rules
MetLife Inc. Chief Executive Officer Steve Kandarian has seen regulation hinder his company's capital plans since he took over the top job at the largest U.S. life insurer in 2011. The Federal ...
Florida Seeking Private Insurer Fix for Flood Insurance Problem
The Florida Legislature is moving forward on a plan to entice private insurance companies to sell flood policies in the state that's the most vulnerable to storm surge. It's not clear, though, that ...
Madoff’s Former Associates Convicted in Multibillion-Dollar Fraud
Five former aides to investment manager Bernard Madoff were convicted on Monday of charges that they helped their boss conceal his multibillion-dollar Ponzi scheme for years. A federal jury in New ...
BlackRock Warns Over ‘Major Risks’ of Scottish Independence
BlackRock Inc., the world's largest money manager, warned that Scottish independence would bring about "major uncertainties, costs and risks" in Britain, becoming the latest company to join the ...
SEC Probing Banks, Companies Involved in Complex Bond Deals: WSJ Report
The U.S. Securities and Exchange Commission has launched an investigation into the increasing number of complex bond deals on Wall Street that may create new opportunities for fraud, the Wall Street ...
IRS Expects ‘Glitches’ with FATCA Tax Law on Offshore Accounts
A new U.S. anti-tax evasion law, set to take effect on July 1, will encounter "inevitable glitches," said the head of the U.S. Internal Revenue Service on Monday, adding that the IRS will be ...
California Voter Initiative Aims to Increase Damages Cap
California's limit of $250,000 on medical malpractice damages for pain and suffering, which became a model for other states almost 40 years ago, could be increased under a voter initiative to be ...