Banks should not be allowed to own hedge funds or equity funds and their trading activity should be limited, former Federal Reserve Chairman Paul Volcker said in an interview with Il Sole 24 Ore on Thursday.
The US lost its number one spot to Switzerland in the WEF report on global competitiveness, partly because of ??particular concerns on the part of the business community about the government??s ability to maintain arms-length relationships with the private sector and in the perception that the government spends its resources wastefully?.
Deutsche Bank cited a ??regulatory event? to explain why it will redeem $425m in its PowerShares DB Crude Oil Double Long exchange traded notes, namely that the product pushed against the limits on crude oil holdings on the New York Mercantile Exchange.