G20 to mull current account targets: U.S. aide
By Greg Robb, MarketWatch
Finance ministers and central bank governors of the Group of 20 nations will discuss setting targets for current account deficits at their meeting in South Korea this weekend, a senior U.S. Treasury official said Wednesday.
http://jlne.ws/cHQn80
Bond sales demonstrate stronger Asia links
By Robin Wigglesworth, FT.com
One of the more curious revelations in Dubai’s recent government bond prospectus was a previously unknown $1bn loan from China Construction Bank. Disclosure of the loan underlines the increasingly close ties between the Gulf states and Asia, a trend that is apparent in recent bond sales, where Asian investors have become markedly more significant.
http://jlne.ws/cCVED0
FSB Seeks to Reduce Reliance on Rating Agencies
BY NATASHA BRERETON, WSJ.com
Financial Stability Board Chairman Mario Draghi said the body's members have endorsed principles to reduce the excessive reliance by governments and financial institutions on credit-rating agencies.
http://jlne.ws/cox1xd
Wells Fargo Reports Record Earnings
BY MARSHALL ECKBLAD, WSJ.com
Wells Fargo & Co. harnessed a surge in mortgage originations in the third quarter to post record earnings, even as new regulations and a soft economy hurt other revenue, such as overdraft fees and interest income.
http://jlne.ws/bABAIG
Why China resists currency reform
The chorus of voices criticizing China's stubborn resistance to reforming its controversial currency regime and allowing the yuan to appreciate keeps getting louder. Outrage in Washington has been growing, the European Union recently called on China to let the yuan rise, and even officials in usually polite Japan spoke out against China's stance last week. China is sure to take a diplomatic beating at the G20 summit in Seoul in November.
http://jlne.ws/cJtre2
Osborne: Bank levy to be permanent
A levy on bank balance sheets will be made permanent, potentially raising billions of pounds, Chancellor George Osborne has confirmed. The chancellor said he would introduce legislation on Thursday in order "to extract the maximum sustainable tax revenues from financial services."
http://jlne.ws/9ejhbI
BOE Minutes Highlight Divide
BY NEIL SHAH, WSJ.com
Britain's central bankers are butting heads over whether to pump more cash into the economy to keep it from stalling amid conflicting signals on growth and inflation.
http://jlne.ws/cFs5vN
Bank of Canada sees slow growth
By Jeremy Torobin, the Globe And Mail
The Bank of Canada cut its growth forecast for five quarters starting with the July-September period and said the economy won’t be at full tilt until the end of 2012 as households work to trim their debt loads and the U.S. recovery remains sluggish.
http://jlne.ws/cneYao
Commodity Futures Trading Commission judge says colleague biased against complainants
As George H. Painter was preparing to retire recently as one of two administrative law judges presiding over investor complaints at the Commodity Futures Trading Commission, he issued an extraordinary request: Please don't assign my pending cases to the other judge.
http://jlne.ws/a45q8o
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