In a victory for banks, global financial regulators revised rules governing how much money must be set aside to cover losses by swaps traders, backing away from guidelines that firms warned would destabilize the $693 trillion derivatives market.
New rules aimed at making the world safer from blowups in the $693 trillion derivatives market are poised to drive up costs so much for retirement funds and other users that bankers say they do just the opposite.
With few clues about what happened to a missing Malaysian wide-body plane or even where it is, aviation investigators and security analysts are left with one conclusion: almost no theory can be considered off the table.
Diana Farrell , deputy director of President Barack Obama ’s National Economic Council, and Assistant Treasury Secretary Michael Barr are leaving the administration, adding to the turnover in the ranks of the White House economic team that worked on the government’s response to the worst financial crisis in more than 70 years.
Federal Deposit Insurance Corp. Chairman Sheila Bair has taken herself out of the running to lead the new U.S. consumer-protection agency after her name was put forward by Senate Banking Committee Chairman Christopher Dodd , a person with direct knowledge of the matter said.
President Barack Obama broke almost five years of silence on post-crisis plans for housing finance by endorsing an approach that would scale back the government’s role to covering mortgage losses only during a catastrophe.
Paulson & Co. executives were sued for alleged conflicts in the handling of intellectual property assets in the bankruptcy of a group of resorts including Miami’s Doral golf course, where Tiger Woods won his 76th PGA Tour event last month.
Firefighters at Boston’s Logan International Airport opened the hatch of a burning Boeing Co. 787 Dreamliner this week to encounter a hazard from something almost ubiquitous in modern life: lithium-based batteries.