US market watchdog asks for German help with Siemens probe
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The US stock market watchdog has asked German justice officials for help probing possible corruption at engineering group Siemens, a spokesman for the federal justice office told AFP on Wednesday.
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France and Germany's market watchdogs say they are looking into Citigroup bond trades already under scrutiny in the UK.
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A coalition of 41 consumer and business groups on Monday asked the main U.S energy market regulator to probe whether power suppliers are selling electricity for unjustly high prices in some regions of the country.
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Business & money: Markets on both sides of the Atlantic take  fright  at data showing weakness in the US and Germany.
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(InfoWorld) - The European Commission asked the German regulatory authority, the Federal Network Agency, Monday to do more to ensure a level playing field in the market for high-speed optical fiber connections to the home or office. It is asking the regulator to help secure adequate access to the market for competitors to Deutsche Telekom AG. The Commission -- the executive and regulatory branch of the European Union -- also asked the national regulator to complete its market analysis for access to the new super fast networks, dubbed next-generation networks (NGNs). "The Commission is keen to ensure that NGNs can be deployed and made accessible in a consistent and transparent manner across Europe," said Viviane Reding, EU telecom commissioner. "It is vital that we ensure effective competition and the legal certainty necessary for all market players to invest in new products and services that will benefit consumers." In May the Federal Network Agency notified the Commission of rules designed to force Deutsche Telekom to grant competitors access to its copper fixed telephone network. As Deutsche Telekom is upgrading its network by rolling out optical fibre-based connections, these rules also apply during the transition to the new infrastructure. In a letter sent to the national regulator Monday, the Commission did not challenge its market definition of local loop unbundling but raised a number of issues on regulatory remedies. Having examined the rules, the Commission said they were a step in the right direction but ultimately they have failed to ensure fair competition. "There are more issues to be tackled, we want more remedies," said Martin Selmayr, a Commission spokesman in charge of telecom-related issues, at a press conference Monday. The rollout of fiber closer to the customers, normally to the street cabinets, enables the provision of high bandwidth services but it raises important issues regarding the position of alternative operators that currently benefit from access obligations of Deutsche Telekom's existing networks. As alternative operators in Germany roll out their own infrastructure to local exchanges, these operators now need an economic way of reaching the new access points provided in street cabinets. The Commission is asking the German telecom regulator to guarantee that access to Deutsche Telekom's existing copper network by its competitors remains efficient during the rollout of NGNs. In the new networks, the number of access points required by an alternative operator will be many times higher than that for the traditional fixed telephony network. In many cases there would no longer be a business case for alternative operators to extend their network down to the street cabinets, the Commission said. Therefore, the Commission stresses the importance of ensuring appropriate alternative access solutions as NGNs are deployed. The Commission can't force the national regulator to take action but its opinion cannot be ignored, Selmayr said. At the same time, the deployment of NGNs raises questions as to how competitors may continue benefiting from current access obligations, in the future, while maintaining incentives to invest for both the incumbent and new entrants. Deutsche Telekom has begun delivering IP (Internet Protocol) services such as telephony, television and Internet access over VDSL (Very high bit rate DSL) to customers in some German cities. It has asked the regulator to exempt its VDSL service from a requirement that it lease its infrastructure to competitors on reasonable terms, claiming that without the exclusive right to use the infrastructure, it cannot fund the necessary investment.
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The U.S. securities regulator is  probing whether two Dow Chemical Co.  executives engaged  in unauthorized talks to sell the company, the New York Times  reported on its Web site on Friday.
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US antitrust regulators are investigating possible anti-competitive practices at the American Stock Exchange and Chicago Board Options Exchange, according to the annual report of the National Association of Securities Dealers.
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The German and French financial watchdogs said on Thursday they were looking into recent trading by US financial services group Citigroup (CN: Quote, Profile, Research) in European government bond and derivative markets.
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US financial regulators have requested information from Warren Buffett&#39;s Berkshire Hathaway group as part of a probe into certain insurance products.
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Under mounting pressure from German government officials and former employees of the mobile phone division it paid BenQ to take off its hands, Siemens has set up a â¬35 million ($44.4 million) fund to aid workers at risk of losing their jobs.
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The U.S. Securities and Exchange Commission wants to know more about the circumstances surrounding the resignation of Thomas Perkins from the Hewlett-Packard board earlier this year.
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Germany's financial watchdog said on Thursday it was looking into recent trading by U.S. financial services group Citigroup (C.N) in European government bond and derivative markets, but had not started a formal probe.
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TRW Automotive Holdings  is  thinking about making a bid for the automotive engineering unit  of Germany's Siemens, the Financial Times reported on Tuesday,  citing three people involved in the bidding process.
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Automaking giant DaimlerChrysler AG said Thursday that it was under investigation by the US Securities and Exchange Commission after a fired employee told labour officials he was dismissed for complaining that the company was using secret
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The U.S. Securities and Exchange Commission is probing whether two Dow Chemical Co.  executives engaged in unauthorized talks to sell the company, according to a source close to the matter.
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Citigroup Inc. is under investigation by German financial regulators for possibly manipulating euro-zone bond markets, the government said Wednesday.
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Swiss bank UBS seeks backing to sell stakes in the firm as it tries to assess the impact of the US sub-prime crisis