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Fed official stands by Wall Street reforms, says must complete work

NEW YORK The United States "absolutely must" complete unfinished work ending the too-big-to-fail bank problem that helped plunge the global economy into recession eight years ago, an influential Federal Reserve policymaker said on Saturday.

Recent Business News

U.S. jobless rate falls to nine-year low, payrolls rise

WASHINGTON The U.S. unemployment rate fell to a nine-year low of 4.6 percent in November, as employers added another 178,000 jobs, making it almost certain that the Federal Reserve will raise interest rates later this month. | Video

Dec 02 2016

Deutsche Bank cuts ties with 3,400 clients in trading business

FRANKFURT Deutsche Bank's Global Markets division will cut ties with about 3,400 clients in its debt and equities sales activities, the bank said on Friday. Deutsche Bank will immediately cease debt sales services to some financial institutions and hedge funds as well as equity sales activities, the execution of equities trading orders and equity structuring activities for some clients, a spokesman said, citing an internal memo.

Dec 02 2016

U.S. presidential commission issues recommendations on cyber security

The U.S. government and the private sector must cooperate to improve the security of digital networks, a U.S. presidential commission on cyber security recommended in a wide-ranging report issued on Friday.

Tech, Cybersecurity Dec 02 2016

China securities regulator chairman condemns "barbaric" company buy-outs by asset managers

BEIJING The chairman of China's securities regulator condemned "barbaric" leveraged company buy-outs by some asset managers using illegal funds, according to a statement posted on the China Securities Regulatory Commission (CSRC) website on Saturday.

5:26am EST

Wal-Mart to settle U.S. lawsuit over benefits for same-sex spouses

Wal-Mart Stores Inc on Friday said it would pay $7.5 million to settle a U.S. lawsuit claiming it discriminated against gay employees nationwide by denying health benefits to their spouses.

Dec 02 2016

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