Sears will have 182 remaining namesake and Kmart stores by early next year, from the 425 Edward Lampert planned to save when he bought the company from bankruptcy about 10 months ago. Inventory and foot traffic were both scarce at many stores over Black Friday weekend, and the holiday circular was less than one-fourth the size of last year's.

It is difficult to explain concisely just how dramatic the past decade was for the internal audit profession, because so many significant factors affected it. IIA President and CEO Richard Chambers aims to capture some of it by examining the top 10 headlines for internal auditing in the 2010s.

Derivatives industry participants at FIA's the 15th Annual Asia Derivatives Conference in Singapore appeared united in viewing sustainability as more than just a buzz word with an increased focus on environmental, social and governance investing.

The European subsidiaries of several global investment banks will fall under European Central Bank supervision as the banks move portions of the operations to Europe ahead of Brexit. Starting next year, the ECB says it will be overseeing a total of 117 banks.

Private equity has spent $101 billion buying up European businesses so far this year, data from Bloomberg indicates, and the trend shows no sign of letting up. "If you're a large private equity fund and you can pick and choose, some valuations in Europe are really attractive, certainly compared to the US," says private equity investor Gunter Waldner.

The Reserve Bank of India has flexibility to take interest rates lower because falling oil prices have diminished inflationary pressures, according to the Organisation for Economic Co-operation and Development. "Monetary policy should remain accommodative as long as inflation is set to remain comfortably close to the target," the OECD says.

The International Swaps and Derivatives Association has said it will work with regulators and industry and attempt to build consensus on how to implement pre-cessation fallbacks. In a letter to the Financial Stability Board, ISDA said it would finalize fallbacks that take effect following a permanent cessation of an interbank offered rate and would also re-consult the market on pre-cessation triggers once clarity had been given on two outstanding points.

The Japanese bond market has not reacted to Prime Minister Shinzo Abe's multitrillion-yen proposal to stimulate the economy. Details of the plan show spending in what the government calls a 26 trillion yen stimulus programme amounts to less than a third of that amount.

Adoption of a forward-looking reference interest rate, such as the Secured Overnight Financing Rate, instead of an overnight rate would be a big step forward for Libor phaseout, JPMorgan Chase Managing Director Tom Pluta says. "The mentality of the market is very much, 'I need a market in advance where I know my payment'," Pluta says.

The EU has proposed rules that would double the contribution derivatives clearinghouses must make to cover losses in a crisis. The rules are meant "to address highly unlikely, but potentially systemic, risks to financial stability", finance commissioner Valdis Dombrovskis says.