Business

US Regulators to Back More Oversight of Digital Currencies

US Regulators to Back More Oversight of Digital Currencies

Christopher Giancarlo, Chairman of the United States CFTC, were "supportive of regulatory and policy efforts to bring clarity and fairness to this space"-a remark that Reuters referred to as "the strongest indication yet that federal authorities are mulling new laws to scrutinize virtual currency trading and investing".


Payout caps will help reduce ICBC claims costs by $1B annually: NDP

Payout caps will help reduce ICBC claims costs by $1B annually: NDP

The overall accident benefit maximum goes from $150,000 to $300,000 for serious injury claims, including nursing care and recovery, medical, dental, occupational and funeral costs. This will reduce "out of control legal costs", said Eby, which have risen 265 per cent since 2000. Overall, legal and operating expenses represent 42 per cent of ICBC's operating expenses with payments to claimants making up the other 58 per cent.


Dow closes 567 points higher after insane swings

Dow closes 567 points higher after insane swings

It traded in a range of about 1,100 points. The 10-year notes were last up rose 38/32 in price to yield 2.7093 percent, down from 2.852 percent late on Friday. While there was no particular piece of news that pushed major US indexes deep into the red on Monday, the recent moves in the bond market have added volatility and concern to the market.


Casino Mogul Wynn Resigns After Sexual Misconduct Allegations

Casino Mogul Wynn Resigns After Sexual Misconduct Allegations

Wynn Resorts said it has appointed Matt Maddox , who now serves as the company's president, as its new CEO effective immediately. Wynn has denied the accusations published by the Wall Street Journal that he routinely subjected women who worked for him to unwanted advances as "preposterous".


Oil slides as stock markets crumble

Oil slides as stock markets crumble

Brent crude futures were at $67.91 per barrel, down almost 1 percent after plummeting almost 1.5 percent on Friday, and U.S. WTI futures were down 0.86 percent to $64.89 per barrel, after easing 0.5 percent on Friday. Crude oil production from Production Sharing Agreement (PSA) projects last month increased by more than 10%, while production at Rosneft and Lukoil fell by 0.2% and 0.5%, respectively, according to energy ministry data quoted by Reuters .