Haruhiko Kuroda, an advocate of bold monetary easing, has been confirmed by parliament as governor of the Bank of Japan. He is expected to act swiftly after taking office Wednesday to implement measures to eliminate deflation and reach 2% inflation within two years.
A TransCanada executive made his case for the approval of the company's $7 billion Keystone XL pipeline, saying it would be good for the environment, generate jobs and spur economic growth. "I believe we will prevail, we will get the permit and with a clear conscience and with pride," said Scott Farris, director of government relations in the western U.S. for the company.
The Consumer Financial Protection Bureau is proposing to expand oversight of student loans. The proposed regulation, sent to the Federal Register on Thursday, would not impose "new substantive consumer protection requirements," the CFPB said.
The U.K.'s Financial Reporting Council has issued FRS 102, a replacement standard for the current U.K. GAAP that moves to an International Financial Reporting Standards-based framework. "FRS 102 modernizes and simplifies financial reporting for unlisted companies and subsidiaries of listed companies as well as public benefit entities such as charities," said Roger Marshall, FRC board member and its Accounting Council chairman.
Major employers object to a fee in the U.S. health care law that will cost them $63 for every person they insure next year. The fee is aimed at covering the cost of insuring people with high medical bills.