But the rule leaves room for financial institutions to satisfy a requirement that they identify a shell company's "beneficial" or true owner by listing a senior manager as such a person, said Elise Bean, former staff director and chief counsel of the U.S. Senate Permanent Subcommittee on Investigations, in a call with reporters. Due diligence by financial... » Read More
Morgan Stanley said Chief Executive James Gorman will receive a base salary of $1.5 million in 2013, nearly double the $800,000 he received last year.
A U.S. appeals court on Thursday rejected Apple request to revive its bid for a sales ban on Samsung's Galaxy Nexus smartphone.
Russell Wasendorf Sr., who admitted looting more than $100 million from broker Peregrine Financial Group in a scheme that shook confidence in the U.S. futures industry, was sentenced to 50 years.
German retail sales tumbled by their largest amount in over three years in December, preliminary data showed on Thursday, denting hopes that private consumption can compensate for weaker exports and lift Europe's largest economy this year.
Rio Tinto's Sam Walsh faces his first difficult decision as chief executive -- whether to shut the 1,400-staff Gove alumina refinery in Australia -- as under-performing units come under tougher scrutiny following $14 billion in writedowns this month.
Thai billionaire Charoen Sirivadhanabhakdi has raised his stake in Fraser and Neave (F&N) to more than 50 percent, turning his offer to buy the rest of the Singapore property and drinks conglomerate unconditional.
Japan's December factory output rose at the fastest pace in a year and a half and firms expect further gains, raising hopes that stabilizing global demand and exports will help pull the economy from its slump.
Nintendo, the world's leading gaming company by machines sold, said it will post an operating loss for a second straight year as the sales of its Wii U, successor to the 100-million selling Wii, faltered.
All Nippon Airways, Asia's top airline by revenue, has cancelled close to 850 flights over a 4-week period and rescheduled more than 82,000 passengers due to the grounding of the Boeing 787 Dreamliner jet with undiagnosed battery problems.
The innovative line of BlackBerry smartphones that Research In Motion will formally unveil on Wednesday has already succeeded on one crucial count - getting RIM back in the conversation.
A U.S. judge accepted an agreement by BP to plead guilty for its role in the Deepwater Horizon disaster and pay a record $4 billion in criminal penalties for the worst offshore oil spill in U.S. history.
There is a new twist in the London Whale trading scandal that cost JPMorgan Chase $6.2 billion in trading losses last year. Some of the firm's own traders bet against the very derivatives positions placed by its chief investment office, said three people familiar with the matter.
Australian mining-to-retail conglomerate Wesfarmers on Wednesday cut its full-year coal sales forecast, citing flooding in Australia and weak demand in Asia that is depressing sales prices.
South Korean chipmaker SK Hynix returned to a quarterly profit on Wednesday on demand from mobile device makers such as Apple, but it fell far short of forecasts on weak sales of computer chips and a strong won.
Chesapeake Energy, battling a governance crisis and financial strain, said that CEO Aubrey McClendon is leaving the company.
China's largest auto parts maker won U.S. government approval to buy A123 Systems Inc, a bankrupt maker of electric car batteries that was funded with U.S. government money, a source familiar with the situation said on Tuesday.
Anglo American took a $4 billion hit to its Minas Rio project on Tuesday, clearing the decks for new boss Mark Cutifani and indicating that the delayed Brazilian operation will eventually get off the ground.
At the Detroit Auto Show earlier this month, luxury was in the air. Pricey new Bentleys and Maseratis glittered - including a Maserati 2014 Quattroporte with a $132,000 price tag; U.S. Cabinet Secretaries and dignitaries rubbed shoulders; and many of the well-heeled attendees ponied up for a $300-a-ticket black-tie charity ball.
The world's top economic policymakers are likely to discuss how Japan's new monetary and fiscal policy drive is weakening the yen when they meet next month, but will stop well short of calling it a competitive devaluation, G20 officials said.
India's central bank is widely expected to make a modest cut in interest rates later on Tuesday to support an economy set for its slowest growth in a decade, with a deeper cut unlikely due worries over the fiscal and external deficits and inflation.