OPEC will keep its crude production limit unchanged next week as it anticipates demand in line with its current target, and as members struggle to agree on their individual share of the total, according to a Bloomberg survey.
Brent crude led energy prices from gasoline to heating oil lower after Iran and world powers reached an interim accord on the country’s nuclear program that will ease economic sanctions while keeping a cap on oil sales.
The top U.S. derivatives regulator is headed for a slowdown after the Senate panel responsible for confirming President Barack Obama’s picks for the Commodity Futures Trading Commission said it won’t act this year.
The U.S. Supreme Court accepted a case with the potential to transform securities litigation, agreeing to reconsider a precedent that has served as the foundation for shareholder suits for the past 25 years.
Timothy Massad, a little-known Treasury official who oversaw the U.S. rescue of Wall Street, faces skepticism about his qualifications from lawmakers who will vote on his nomination to lead the country’s top derivatives regulator.
Timothy Massad, the Treasury Department official responsible for overseeing the U.S. rescue of banks and automakers after the credit crisis, will be nominated to head the country’s top derivatives regulator.
The top U.S. derivatives regulator may dwindle to just two voting commissioners and struggle to approve new rules unless the White House and Senate can overcome political hurdles to fill the vacancies by the end of the year.
Treasury Secretary Jacob J. Lew warned chief executive officers of top U.S. banks in a private meeting last month that the final Volcker rule ban on proprietary trading would be tougher than Wall Street expects, likely putting limits on portfolio hedging.