Australian Banks Reassure on Capital
Two of Australia's largest lenders reassured investors they
already have strong levels of capital as a buffer against potential
financial crises, as the country's economic outlook dims.
UBS Loses Appeal in French Tax Evasion Probe
UBS failed to win relief from having to pay a $1.37 billion bond
as part of a French probe into assistance provided by the Swiss
bank to French tax evaders, prompting the lender to take its case
to the European Court of Human Rights.
Court Rejects Bid to Dismiss Rio Tinto Lawsuit
A U.S. District Court rejected Brazilian mining company Vale's
bid to dismiss a lawsuit alleging it conspired with Israeli
billionaire Benjamin Steinmetz to take a West African mine away
from rival Rio Tinto.
U.S. Concludes North Korea Behind Sony Hack
U.S. officials have concluded North Korea is behind the hacking
attack on Sony Pictures, elevating the issue from a question of
corporate security to national security.
NYSE Plan Would Revamp Trading
The owner of the New York Stock Exchange is pushing a major
overhaul of the U.S. stock market aimed at helping exchanges
reclaim their role at the center of trading.
Australian State to Begin Power-Network Sale
Australia's most populous state said Thursday it will go ahead
with the partial privatization of its electricity network, as it
attempts to raise $16 billion to spend on new infrastructure such
as roads.
China Approves Syngenta Biotech Corn
China's Ministry of Agriculture has approved a controversial
biotech corn product that has been blamed for the collapse of U.S.
corn exports to the big Asian market, U.S. Agriculture Secretary
Tom Vilsack said.
Mitsui CEO Says U.S., Saudis Pushing Oil Lower
The head of Mitsui & Co., a big energy investor, said he
believed the U.S. and Saudi Arabia were working together to keep
oil prices down in an effort to hurt Islamic State and Russia.
AbbVie Pins Hopes on Hepatitis C Treatment
Fresh off a failed takeover bid that would have lowered its
taxes and diversified its product lineup, drug maker AbbVie is
hoping for a Christmas gift: regulatory approval of its first
significant new product in a decade.
Oracle Beats Street View for First Time in a Year
Best known for databases used by many big businesses, Oracle
posted quarterly results that were a pleasant surprise for
investors who had lost confidence in the company's ability to churn
out reliable financial results.
Chevron Suspends Arctic Offshore Drilling in Canada
Chevron told Canadian regulators Wednesday that it has
"indefinitely" suspended plans to drill for oil in Arctic waters,
citing uncertainty over the outlook for crude prices.