DAR ES SALAAM, July 5- Tanzania's parliament on Sunday approved a legal and regulatory framework for developing its nascent hydrocarbons industry, after days of contentious debate. East Africa has become a new oil and gas frontier after a string of discoveries that producers hope to exploit to supply energy-hungry Asian markets. Lawmakers are expected to...» Read More
Rumors about merger talks between pharmaceutical giants Sanofi-Aventis and Bristol-Myers have picked up speed after French financial newsletter La Lettre de I Expansion reported a deal was in the works. Thomas Burnett, director of research at Wall Street Access, was on “Morning Call” to give his take on the possible friendly takeover.
KB Home is joining what's becoming a long list of companies caught up in the stock back dating issue. The home builder announced that it's under formal investigation by the SEC for improper stock option practices. The company CEO Bruce Karatz resigned (or retired) last fall over the backdating issue. Right now--more than two hundred companies are under a similar microscope (including computer giant Apple).
Frank Quattrone, once the top investment banker in Silicon Valley until he was charged in 2003 with covering up IPO abuses, is planting the seeds of his comeback. Quattrone, who was cleared last year, spoke exclusively with CNBC Senior Correspondent Scott Cohn, his first interview in nearly four years.
Most everyone agrees that President George W. Bush must find common ground with congressional Democrats -- not to mention disaffected Republicans. But after last night's State of the Union address, several polarized camps seem to agree on only one thing: disappointment when it comes to solving America's energy problems.
"We can and must take prompt action to establish a coordinated, economy-wide market-driven approach to climate protection," the executives from a broad range of industries said in a letter to the president.
Sarbanes-Oxley may never work its way into the hearts and minds of Wall Street. The regulation came under attack yet again today (see earlier post on Mayor Michael Bloomberg and NYC's financial services) as a reason New York City and the U.S. are losing their financial edge to cities like London. The complaint is the 2002 law is too much and too costly to obey. And that's driving IPOs, hedge funds and the like...
It's almost the end of the financial world as we know it-- in New York City. At least that's according to New York Mayor Michael Bloomberg (R) and Sen. Chuck Schumer (D-NY). Both men say NYC--and the U.S. for that matter-- are losing their competitive edge as leaders in financial dealings. Today--the politicos released a study done by the mayor's office and consultant group McKinsey that apparently proves the point.
Bank of America wants U.S. regulators to raise the limit that prevents U.S. banks from making acquisitions that would give any one bank more than 10% of total national deposits, The Wall Street Journal reported Tuesday.
A sharply divided FCC voted 3-2 along partisan lines to impose new measures meant to ensure that local governments do not block new competitors from entering the cable television market.
In an exclusive interview with CNBC, SEC Chairman Christopher Cox said the agency is in its best shape ever to oversee a variety of regulatory issues simultaneously, whether it's options backdating or keeping a watchful eye on the derivatives market.
Regulators voted on a proposal that would raise the hurdle investors must meet in order to enter the fast-growing world of hedge funds.
The S.E.C. is meeting right now to vote on a key proposals that could have a major impact on the hedge fund industry. CNBC’s Hampton Pearson had all the details on today's "Power Lunch." Hampton said essentially the S.E.C. is looking to raise the bar on hedge fund investment. Currently hedge funds need to have $200,000 income or $1 million in net worth.
We have more opinions on the regulation of hedge funds. Tomorrow (Wednesday) the S.E.C. meets to consider new rules for hedge funds--which S.E.C. Chairman Christopher Cox calls "risky investments that are not for mom and pop." This year's Amaranth meltdown would seem to support that view (Amaranth lost $6.5 billion in one month in 2006.
Many pediatricians want the new Democratic congress to ban junk food ads on kids shows. The American Academy of Pediatricians is calling on the FCC to impose limits on ads saying that advertising has an impact on crucial areas of child development. Would that be protecting the health of our children...or just regulation run rampant and censorship?
An Italian administrative court has ruled in favor of a government decision to block Autostrade's deal with Spanish infrastructure company Abertis Infraestructuras, Autostrade said Thursday.
The new movie "Blood Diamond" hasn't even hit theaters (it opens on Friday) but already it's stirring up quite a bit of controversy--over the use of so-called "conflict diamonds" to fund some of Africa's bloodiest civil wars. Given the sensitive subject matter, the diamond industry--which logs about half of all sales this time of year--has launched a massive PR campaign to offset any potential consumer backlash.
The Securities and Exchange Commission voted unanimously to propose tightening restrictions intended to combat manipulative short selling ahead of stock offerings.
Hedge funds are heading into a rough few weeks. Many funds are looking at some pretty average returns this year--and if that's not bad enough--the industry faces U.S. Congressional hearings starting tomorrow on regulations and insider trading. William Galvin is Secretary of the Commonwealth of Massachusetts...
U.S. capital markets can be made more competitive globally by reducing regulation and exposure to litigation for companies, a panel of businessmen and academics linked to the Bush administration said in a report released Wednesday night.