China's foreign currency regulator is not concerned by signs of forex outflows, the country's State Administration of Foreign Exchange (SAFE) said on Thursday, saying a recent decline in forex reserves is in line with China's policy goals.
Struggling retailer Sears Holdings Corp (SHLD.O) will lay off at least 5,457 employees and close over 100 stores, many before Christmas, according to a Seeking Alpha report citing liquidation notices and employees.
JPMorgan Chase & Co (JPM.N) executives in New York were aware of potential problems tied to its recruitment practices in China well before U.S. regulators launched a probe into the issue, the Wall Street Journal reported, citing sources and documents it reviewed.
U.S. securities regulators adopted a rule on Wednesday designed to avert another financial crisis, but two officials dissented, saying it did not do enough to discourage banks from lending to borrowers with shaky credit and then passing the mortgage risk to investors.
