News on the Global Financial Markets

Europe's investment banks might be forced to accelerate cuts
UBS, Credit Suisse, Deutsche Bank and other major European investment banks might have to speed up job and asset cuts as well as rein in some businesses to reduce expenses, a JPMorgan Chase analyst said. "Everybody is trying to reduce risk-weighted assets as soon as possible," the analyst said. "They've already all started, but they'll probably find it harder than expected because the environment is clearly getting tougher." Bloomberg(23 Oct. 

Deutsche Boerse, NYSE get another week to convince EU of merger
Antitrust authorities gave Deutsche Boerse and NYSE Euronext another week to respond to the European Commission's "statement of objections" to their proposed merger. Financial Times (tiered subscription model)(21 Oct.)

France seeks tougher rules for UCITS funds
France's financial regulator supports a European Commission move to bolster risk-management rules for Undertakings for Collective Investment in Transferable Securities funds. The goal is to rein in risk. Financial Times/Ignites Europe(tiered subscription model)(23 Oct.)