WASHINGTON - When U.S. regulators adopt the Volcker rule on Tuesday, they will make good on a promise by politicians to rein in banks' ability to gamble with their own money.
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Recent Business News
ATHENS - Greece's parliament approved a budget plan on Saturday filled with over 3 billion euros of austerity cuts that sees the debt-laden country emerging from a six-year recession next year.
- Internal JPMorgan Chase & Co emails and computer files being examined by U.S. authorities show that the bank favored hiring people from prominent Chinese families in order to win investment banking business, the New York Times reported on Saturday.
- A U.S. federal judge has refused to allow investors to proceed as a group in a lawsuit accusing BP Plc of fraud by misleading them - before and after the 2010 Gulf of Mexico oil spill - about the company's ability to respond to an accident.
- A former SAC Capital Advisors trader, set to go on trial next month on insider trading charges, wants to cite in court some 2012 testimony given by the hedge fund's founder Steven Cohen, claiming it rebuts the government's case.
Today's jobs report showed that the US economy added 203,000 jobs in November, and the unemployment rate fell to 7.0% for the first time since recession.