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Wikinews:Briefs/Business/December 5, 2005

< Wikinews:Briefs | Business

Monday, December 5, 2005

These are short blurbs about current events in the business world.

EU too quick to introduce new rules, UK study says

A UK government sponsored report, Routes to Better Regulation - A Guide to Alternatives to Classic Regulation, says the EU is too quick to introduce new rules without considering alternative measures. "All too often the EU looks to introduce prescriptive rules and regulations rather than consider alternative solutions, which can achieve the same goals and help to slash costly red tape," said David Arculus, chairman of the task force that compiled the report. The EU Commission, under president Jose Manuel Barroso has insisted on impact studies before deciding on whether to propose legislation. The Commission announced it will kill off several legislative proposals that have failed to make progress, and is proposing streamlining existing EU rules. The study proposed taking no action instead of introducing new rules. In January, the task force will become an independent commission, which will increase its political strength.

Sources

JPMorgan plans to offshore 30% of its back office

JPMorgan is planning to hire 4,500 graduates in India over two years. The plan moves 30% of its back office offshore. The company intends to move the majority of its foreign exchange trades to Mumbai and Bangalore and to move much of the processing of credit derivatives contracts. This is an area where US and UK regulators have expressed concern about backlogs across the industry.

Sources

 

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  This page is archived, and is no longer publicly editable.
Articles presented on Wikinews reflect the specific time at which they were written and published, and do not attempt to encompass events or knowledge which occur or become known after their publication.

Got a correction? Add the template {{editprotected}} to the talk page along with your corrections, and it will be brought to the attention of the administrators.

Please note that due to our archival policy, we will not alter or update the content of articles that are archived, but will only accept requests to make grammatical and formatting corrections.

Note that some listed sources or external links may no longer be available online due to age.

The text of this article is licensed under the terms of the Creative Commons Attribution 2.5 License
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