New US regulations released Tuesday place tight controls on banks' trading their own accounts, in an attempt to avoid the high-risk behavior that contributed to the 2008 financial crisis. The long-awaited Volcker Rule, to come into effect on July 21, 2015, also forbids banks from owning hedge funds or so-called covered private equity funds, also with the aim of distancing them from financially risky activities. "The fundamental challenge is to distinguish between proprietary trading, on the one hand, and either market-making or hedging, on the other," said Daniel Tarullo, a governor of the Federal Reserve, the chief author of the rules.
CAIRO (AP) — The Libyan militia that shut down most of the country's oil terminals for months causing the loss of millions of dollars said Tuesday that terminals will reopen on Dec. 15.
CAIRO (AP) — Egypt's best known diplomat said Tuesday that a constitution drafted by a 50-member panel he chaired offered unprecedented guarantees for democracy, individual freedoms and gender equality.
WASHINGTON (AP) — U.S. banks will be barred in most cases from trading for their own profit under a federal rule set to be approved Tuesday.
NEW YORK (AP) — Stocks took a breather Tuesday after U.S. markets notched another record high.
BRUSSELS (AP) — Finance ministers of the European Union on Tuesday held marathon talks on how to create a central agency that can rescue banks without using taxpayer money.
Top News >>>
By Jahmal Corner LOS ANGELES (Reuters) - Kobe Bryant's long awaited return to the basketball court began as a wild celebration on Sunday, but ended as a quiet reminder that the rusty All Star has more work ahead to get back to his brilliant best. Bryant made his anticipated season debut in front of a frenzied Staples Center crowd, showing small hints of old form but mostly looking out of sorts as the Lakers were defeated by the Toronto Raptors 106-94. The Lakers all-time leading scorer made just two of nine shots and conceded that Sunday's return was just the first of many hurdles to come.
Roy Halladay, who had a reputation as a dominant hard-working starting pitcher, retired Monday after signing a one-day contract with the Toronto Blue Jays. Halladay pitched the last four years of his brilliant career with the Philadelphia Phillies.
Dec 9 (Reuters) - Leading money winners on the 2013/2014European Tour Race to Dubai on Tuesday: 1. Thomas Bjorn (Denmark) 795,338 euros 2. Charl Schwartzel (South Africa) 454,492 3. Jamie Donaldson (Wales) 414,478 3. Sergio Garcia (Spain) 414,478 5. Morten Orum Madsen (Denmark) 241,662 6. Henrik Stenson (Sweden) 238,602 7. Brendon de Jonge (Zimbabwe) 221,449 8. Richard Finch (England) 192,972 9. Miguel Angel Jimenez (Spain) 159,063 10. Justin Rose (England) 131,231 11. Jbe Kruger (South Africa) 116,956 12. Hennie Otto (South Africa) 116,610 13. Jaidee Thongchai (Thailand) 106,894 14. ...
Josh McCown threw for 349 yards and Matt Forte gained 175 yards and a touchdown to lead the Chicago Bears to a 45-28 win over Dallas. McCown, who was making his fourth consecutive start in place of Jay Cutler, on Monday threw four touchdown passes and ran for another in frigid conditions at Soldier Field in Chicago. The Bears improved to 7-6 and snapped a two-game National Football League losing skid.
(Reuters) - Bobby Cox, Tony La Russa and Joe Torre, who each rank in the top five on Major League Baseball's all-time list for wins as managers, have been elected to baseball's Hall of Fame, it was announced on Monday. The three managers were each named on all 16 ballots cast by the Expansion Era Committee, which had also considered nine other former players, executives and contributors to the game. Cox, La Russa and Torre will be joined in the Hall of Fame Class of 2014 by any electees who emerge from the Baseball Writers' Association of America voting, which will be announced on January 8. Cox, a four-time Manager of the Year, skippered the Braves and Blue Jays for 29 seasons, leading his teams to 15 first-place finishes in their division.
Sport News >>>