Russia justified its intervention in the Crimea as a legitimate response to a request from Ukraine’s ousted president amid threats posed by extremists, while Western leaders sought to keep the standoff from spiraling into war.
The U.S. and China are discussing ways to improve communication between their militaries to avoid potential conflict at a time of heightened tensions in the region, departing U.S. Ambassador to China Gary Locke said.
Here’s what to look for when Federal Reserve Chair Janet Yellen testifies before the Senate Banking Committee starting at 10 a.m. today. She spoke to the House Financial Services Committee on Feb. 11 in the first of two days of semi-annual testimony on the economic outlook and monetary policy.
The Volcker Rule, aimed at making the financial system safer, is already prompting changes in the high-risk corporate loans market even as regulators spar over how to implement the measure without stunting economic growth.
Philippine central bank Governor Amando Tetangco said interest-rate changes by policy makers in emerging economies may increase financial-market volatility as the Federal Reserve tapers bond purchases.
The Philippine peso fell to the lowest level since August 2010 after the central bank signaled it won’t raise interest rates to support the currency amid an emerging-market selloff. Government bonds advanced.
Credit Suisse Group AG is planning a collateralized loan obligation of about $500 million in the U.S. amid slower issuance as fund managers seek a clearer understanding of the requirements of the Volcker Rule.