Senate Republicans blocked debate over new financial rules on the eve of a congressional hearing involving Goldman Sachs Group Inc., a move that may open the party to attacks that it’s soft on Wall Street.
Three days after U.S. lawmakers completed negotiations on the financial-overhaul bill last month, Rahm Emanuel called an emergency meeting of top administration officials in the White House’s Roosevelt Room.
Bank bonds are outperforming debt from industrial companies by the most since March as investors wager the biggest overhaul of Wall Street regulations since the Great Depression won’t cripple profits at financial firms.
Royal Bank of Canada was sued by U.S. regulators over claims that the Toronto-based lender engaged in illegal futures trades worth hundreds of millions of dollars to garner tax benefits tied to equities.
Ireland’s government won an initial vote in parliament on the Finance Bill, paving the way to fully implement the 2011 budget, after bowing to pressure from independent lawmakers to impose a tax on bankers’ bonuses.