US Senate begins debate on new Wall Street regulations

The Senate has begun debating proposals for the most significant reforms to financial regulations since the 1930s. After days of deadlock, Republicans and Democrats began arguing over a bill aimed at bringing accountability to Wall Street and avoiding another financial meltdown. Republicans had blocked debate on the bill for three consecutive days, but eventually relented on Wednesday. But they also promised a hard fight to make changes to the reform bill.

The key battlegrounds of the debates will be measures to restrict trades in complex financial instruments, called derivatives, and the powers proposed for a new agency to protect consumers. Despite agreeing to a debate, Republican Senator Richard Shelby, who led the blocking campaign, appeared in no mood to compromise on his opposition to the consumer protection agency.

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The above article was extracted from Skyline updates of Skyline College. Skyline College is amongst the top MBA and BBA institutes in Delhi, Gurgaon (NCR).

World stocks advance on Wednesday

After Greece, the world markets worried about Spain, but that country has been a bit quicker in addressing the issue. World stock markets advanced Wednesday after Spain unveiled new spending cuts that helped ease worries about the continent's debt crisis. Britain's financial markets meanwhile gave a lukewarm response to the establishment of the country's first coalition government since World War II. Solid German economic growth figures - Europe's biggest economy expanded by a modestly higher than expected 0.2 percent in the first three months of the year - also helped fuel the rally, particularly in Frankfurt, where the DAX closed up 145.78 points, or 2.4 percent, at 6,183.49.

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The above article was extracted from Skyline updates of Skyline College. Skyline College is amongst the top MBA and BBA institutes in Delhi, Gurgaon (NCR).

SEBI bars 9 people from market for public issue fraud

Market regulator SEBI has barred nine people from trading in the securities market for a year for allegedly colluding to make a failed public issue appear as successful, thereby denying refund to retail investors. They created circumstances in which the retail investors got trapped. Had the issue failed, the innocent retail investors at least would have got the refund of their subscription, SEBI said in an order. It said these nine people bought 53 per cent of the shares issued by Consortex Karl Doelitzsch (India) Ltd, earlier known as Andhra Pradesh Power Tools Ltd. The issue opened for subscription on January 22, 1996 and closed on February 1, 1996.

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The above article was extracted from Skyline updates of Skyline College. Skyline College is amongst the top MBA and BBA institutes in Delhi, Gurgaon (NCR).

SEBI challenges SAT order on Takeover Code

The market watchdog SEBI on Wednesday moved the Supreme Court challenging the decision of the appellate tribunal SAT that held that financial investors like PEs and VCs do not acquire controlling stake in a company by just picking up more equity. The Securities Appellate Tribunal (SAT) had in January this year set aside a SEBI direction that held that the veto rights acquired by a financial investor in a target company cannot be construed as a controlling stake. An apex court bench comprising the new chief justice SH Kapadia and justices KS Radhakrishnan and Swatanter Kumar directed both the parties to file their written submissions.

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The above article was extracted from Skyline updates of Skyline College. Skyline College is amongst the top MBA and BBA institutes in Delhi, Gurgaon (NCR).

Greece debt fears push euro to 13-month low

The euro has continued its slide against the dollar, reflecting the continued loss of investor confidence in some European economies. The euro has fallen to $1.2954 - its lowest level for more than a year. Share markets in Asia also dropped after heavy falls in Europe on Tuesday.

The Singapore market was down 1.5% and Hong Kong's Hang Seng index fell 2.1%. Investors remain concerned over the debt crisis in Greece, and the fear that it may spread to other economies. On Tuesday, the Spanish Prime Minister Luis Rodriguez Zapatero was forced to deny rumours that Spain would be next to seek financial rescue, following the agreement of a 110bn-euro ($143bn; £95bn) bail-out package for Greece over the weekend.

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The above article was extracted from Skyline updates of Skyline College. Skyline College is amongst the top MBA and BBA institutes in Delhi, Gurgaon (NCR).

Greece debt fears push euro to 13-month low

The euro has continued its slide against the dollar, reflecting the continued loss of investor confidence in some European economies. The euro has fallen to $1.2954 - its lowest level for more than a year. Share markets in Asia also dropped after heavy falls in Europe on Tuesday. The Singapore market was down 1.5% and Hong Kong's Hang Seng index fell 2.1%. Investors remain concerned over the debt crisis in Greece, and the fear that it may spread to other economies. On Tuesday, the Spanish Prime Minister Luis Rodriguez Zapatero was forced to deny rumours that Spain would be next to seek financial rescue, following the agreement of a 110bn-euro ($143bn; £95bn) bail-out package for Greece over the weekend

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The above article was extracted from Skyline updates of Skyline College. Skyline College is amongst the top MBA and BBA institutes in Delhi, Gurgaon (NCR).

Singapore dollar allowed to appreciate as economy booms

Singapore has allowed its currency to rise against the dollar in an effort to tackle worsening inflation and control economic growth. The Singapore dollar immediately jumped 1.25% to 1.347 to the US dollar. The central bank raised its inflation forecast to 2.5%-3.5%, and said first quarter annualised growth jumped to 32.1% from -2.8% the previous quarter. The decision comes amid speculation that China will revalue its currency, the yuan, this year. Other currencies across the region also jumped on the news, as markets speculated that Singapore's decision could pave the way for higher interest rates in the other big exporting nations. The Malaysian ringgit appreciated 1.05%, while the Korean won was up 0.85%.

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The above article was extracted from Skyline updates of Skyline College. Skyline College is amongst the top MBA and BBA institutes in Delhi, Gurgaon (NCR).