Arianna Huffington, a member of Uber's board, said in a conference call with reporters that the company is working hard to find a chief operating officer, overhauling HR operations, reaching out to drivers to improve its relationship with them and inviting employees to express concerns. The board has confidence that CEO Travis Kalanick can perform his duties, she said.
US Secretary of State Rex Tillerson has changed his mind about passing up a meeting of NATO ministers and is working to reschedule the gathering so he can attend. His original plan to skip the meeting touched off concerns among allies about whether President Donald Trump is committed to supporting the alliance.
Sen. Sherrod Brown of Ohio, the senior Democrat on the Senate banking committee, does not support wholesale abolition of the Dodd-Frank Act, saying the law is effective. However, Brown is willing to revisit aspects of the law and says he looks forward to working alongside committee Chairman Mike Crapo, R-Idaho.
Brexit has prompted London's biggest European rivals to scramble in luring financial business from Britain, and the European Commission is striving to ensure no regulatory shortcuts are being used. The commission is also considering bolstering the powers of regulators to counter negative consequences stemming from Brexit.
Germany is working to persuade policymakers to relocate the European Banking Authority from London to Frankfurt, Germany, after the UK withdraws from the EU, a move that would put the banking regulator in the same city as Europe's insurance regulator, the European Insurance and Occupational Pensions Authority. "The German government supports efforts to further strengthen Frankfurt as a location for the financial industry," a finance ministry spokesperson said.
A European Securities and Markets Authority report states that sovereign-bond liquidity increased over the July 2006 to December 2016 period. However, the report adds that corporate-bond liquidity decreased and is especially vulnerable to turbulent market conditions.
Goldman Sachs Group and Morgan Stanley are planning to relocate employees based in London to elsewhere in the EU as the UK negotiates its withdrawal from the EU. Richard Gnodde, head of Goldman Sachs International, says the bank is actively seeking extra office accommodations in Paris and Frankfurt, Germany.
Saudi Arabian Oil plans to tap markets for $10 billion, starting with a $2 billion Islamic bond sale as early as the second quarter, sources said. "Until they go public next year and disclose their full audited financials, the best option for Aramco is to raise money through asset-backed securities like sukuk," said analyst Mohamed Ramady.
EU governments are considering a proposal to allow banks more time to comply with rules on accountancy and capital set to take effect in January. Without a longer transition period, the rules could put undue strain on banks' capital requirements, with adverse effects on their lending capabilities, according to the proposal.
The European Commission has turned down a request from the European Parliament to close an alleged loophole in its ruling on systematic internaliser networks, which the parliament says could allow firms to create unregulated multilateral equities trading networks. Commission Vice President Valdis Dombrovskis said the matter will be dealt with under the existing framework.
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