U.S. regulators on Tuesday adopted a rule to prevent banks from behaving like hedge funds, called the Volcker rule after former Federal Reserve Chairman Paul Volcker. The rule reins in so-called proprietary trading - in which banks make bets with their own money - and limits banks' ownership of hedge funds and private equity funds. Herewith the main facts of the Volcker rule, which will come into force on July 21, 2015: PROPRIETARY TRADING Banks may no longer engage in the short-term proprietary trading of securities, derivatives, commodity futures and options for their own account.
NEW YORK (AP) — Jim Hall, one of the leading jazz guitarists of the modern era whose subtle, mellow style of playing strongly influenced younger proteges such as Pat Metheny and Bill Frisell, has died at age 83.
NEW YORK (AP) — Pink says that while she's excited her ballad "Just Give Me a Reason" is nominated for a Grammy for song of the year, she believes husband Carey Hart deserves some credit for its success.