Janet Yellen is seen as a logical candidate to succeed the Federal Reserve chief Ben Bernanke, but critics remain wary of her stance on inflation.» Read More
Janet Yellen is seen as a logical candidate to succeed the Federal Reserve chief Ben Bernanke, but critics remain wary of her stance on inflation.
April 22- Credit Suisse Group AG has agreed to sell a private equity business to Blackstone Group, the latest move by an investment bank to sell a business with illiquid assets in order to appease regulators and bolster its balance sheet.
TOKYO/ FRANKFURT, April 18- It is your first day as the new U.S. But playing it could make Ben Bernanke and his global counterparts long for simpler times. "There was a time, not too long ago, when central banking was considered to be a rather boring and unexciting occupation," European Central Bank President Mario Draghi said this week.
Harper College has rallied around a number. When President Barack Obama called for 5 million more community-college graduates by the end of the decade to boost U.S. competitiveness, this commuter school 30 miles northwest of Chicago figured out it would need to produce 10,604 additional graduates to do its part.
NEW YORK, March 4- Goldman Sachs Group Inc is trying to find ways to keep investing in the profitable, albeit risky, business of buying and selling companies without crossing a rule that will restrict private equity investing, three sources familiar with the new business said over the past week.
WASHINGTON, March 4- A fragmented regulatory landscape and obstruction by lobbyists are to blame for a lack of progress in banning banks from betting with their own money, Paul Volcker said on Monday.
Occupy the SEC, a subset of Occupy Wall Street that focuses on financial regulators such as the Securities and Exchange Commission, said it wants a federal court to order regulatory agencies to put out final regulations to enforce the Volcker rule, as the ban on speculation by banks is known.
*Bank of America and Citi pull back from private equity. "I was skeptical, met with the people and became convinced that they absolutely knew what they were doing and that this was a business we could manage and do well," said Kovacevich, who became CEO of Wells Fargo when it merged with Norwest in 1998, and retired as chairman of the fourth-largest U.S. bank in 2009..
PARIS, Feb 12- Paris prosecutors asked a criminal court on Tuesday to fine French energy company Total 750,000 euros for corrupting foreign agents during the U.N. oil-for-food programme for Iraq a decade ago.
*Iraq says companies conspired with Saddam Hussein regime. District Judge Sidney Stein in Manhattan said the government of Iraq could not recover damages and other remedies under a U.S. anti-racketeering law because most of the wrongful conduct took place in foreign countries.
CHICAGO, Feb 5- Illinois Governor Pat Quinn, already the most unpopular governor in the nation, has his work cut out for him at his annual "state of the state" speech on Wednesday- and this time he probably won't be relying on a python named "Squeezy."
PARIS, Feb 5- The chief executive of Total told a French court on Tuesday he had no knowledge that the French oil giant was buying illegally procured oil during the United Nations oil-for-food programme over a decade ago.
DAVOS, Switzerland, Jan 27- As the titans of Wall Street banks gathered to network, gossip and consider the future of their beleaguered industry in Davos over the past week, one common worry emerged: who is going to take over when we leave?
NEW YORK, Dec 20- A subtle shift in monetary policymaking is afoot with a new generation of central bankers, striving to secure global economic recovery, prepared to challenge the old doctrine of inflation-fighting at all costs.
France unveiled a long-awaited bank reform, hailing it as a model for the rest of Europe even as critics said it fell short of President Francois Hollande's campaign pledge to get tough with the financial sector.
Dec 11- The U.S. Chamber of Commerce is asking federal officials to consider whether a proposed proprietary trading ban undermines U.S. trade policy, part of an ongoing effort by industry groups to push back against the so-called Volcker rule.
Former Federal Reserve Chairman Paul Volcker told CNBC his namesake rule has already changed how Wall Street does business.
Paul Volcker, former Federal Reserve Chairman, explains why he believes the Volcker Rule has already been effective and says that regulation does not have to be overly complex.
In a rare interview, former Federal Reserve Chairman Paul Volcker tells CNBC's "Squawk Box" that his namesake rule has already changed the way Wall Street does business, despite the delays in crafting the final draft. The Volcker Rule is part of the 2010 Dodd-Frank Act.
CNBC's Kayla Tausche reports regulatory sources have told CNBC that the deadline to complete the Volcker Rule is now delayed until the end of the first quarter of 2013.