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US Congress reaches budget deal
2015-10-27 12:31:54| BBC News | Business | UK Edition
Republicans in the US Congress reach a compromise budget deal with the White House to avert the prospect of a renewed government shutdown.
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EU, US near deal on new 'safe harbour' terms
2015-10-27 09:14:00| Telecompaper Headlines
(Telecompaper) The European Union has reached an agreement in principle with the US on strengthening the 'safe harbour' agreement on the transfer of personal data to the US. The announcement was made by Jera Verouva, the European Commssioner for Justice, who was addressing the Committee on Civil Liberties, Justice and Home Affairs in the European Parliament on the consequences of the recent ruling by the EU Court of Justice striking down the previous designation of the US as a safe harbour. Verouva said the European Commission will release soon a communication outlining the consequences of the ruling for businesses. This will provide guidance until a more detailed agreement can be reached on a new safe harbour deal. The EC recommended already in 2013 a number of changes to the safe harbour agreement and these, along with the court ruling, have served as the basis for negotiations underway with the US. One of the key elements of the talks is ensuring a "effective detection and supervision mechanisms", as required by the court. According to Verouva, the US has delivered on this by committing to a stronger oversight by the Department of Commerce, stronger cooperation with European data protection authorities and priority treatment of complaints by the Federal Trade Commission. "This will transform the system from a purely self-regulating one to an oversight system that is more responsive as well as pro-active and backed-up by significant enforcement, including sanctions," Verouva said. While there is an agreement with the US on these matters in principle, the EC is still discussing how to ensure that these commitments are binding enough to fully meet the requirements of the court, she added. Once a new deal is in place, it will be subject to annual review, including the use of exemptions for law enforcement and national security grounds.
Indonesia 'will join TPP trade deal'
2015-10-27 03:58:15| BBC News | Business | UK Edition
Indonesia's president says his country will join the Trans-Pacific Partnership (TPP) free trade deal, but cuts short his US visit because of Indonesia's worsening haze situation.
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ICE says to buy Interactive Data Corp in $5.2 billion deal
2015-10-26 16:34:43| IT Services - Topix.net
The deal, which includes $3.65 billion in cash and $1.55 billion in ICE stock, will help build on ICE's market data business by adding technology platforms and increasing new data and valuation services, ICE said. ICE's shares rose as much as 2.3 percent to touch a record high of $254.50 in early trading on Monday.
Oi gets offer for capital injection with TIM deal
2015-10-26 13:37:00| Telecompaper Headlines
(Telecompaper) The LetterOne (L1) fund, owned by Russian billionaire Mikhail Fridman, has made an offer to provide USD 4 billion to Brazilian operator Oi to help the company participate in market consolidation. The transaction is conditional on Oi agreeing a merger with TIM Brasil, the operator controlled by Telecom Italia. Oi confirmed the offer received by its shareholder BTG Pactual, which is advising Oi on restructuring and financing with an eye on pursuing consolidation. Oi said it will carefully study the offer with its advisers.
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