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The Dodd-Frank legislation, which Congress passed in 2010, and international banking standards known as the Basel III rules are forcing banks to hold safer assets, curtail trading activities and set aside more capital to absorb potential losses.
Williams's decision to curtail trading comes after a similar one by the El Paso Corporation, a natural gas pipeline and power company based in Houston that two weeks ago announced sharp reductions of its energy-trading operations.
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China may no longer be willing to curtail trade with Iran.
For example, there is no way to punish nations that needlessly close borders or curtail trade.
India has resisted American and European pressure to curtail trade with Iran because it relies heavily on Iranian oil.
On the other hand, unions will likely pressure the Administration to curtail trade agreements, in the interest of preventing the further loss of industrial jobs to other countries.
Mr. De Gucht was already bucking widespread opposition in Europe by taking on Beijing over solar panels, with a range of national politicians and executives from other industries eager to expand — not curtail — trade relations with China.
In 2011 the bipartisan Financial Crisis Inquiry Commission found that Greenspan's failure to curtail trade in securities backed by subprime mortgage loans during the U.S. housing bubble of the early 2000s and his advocacy of deregulation of the financial industry had contributed to the global financial crisis of 2008 (see Emergency Economic Stabilization Act of 2008).
He also said Dynegy sharply curtailed trading with Enron last week, and that further hurt Enron's business as word leaked to other energy traders.
The New York Stock Exchange, which has not curtailed trading because of the weather since a blizzard in January 1996, opened on time for a full day of trading — light as it was.
Meanwhile it would take a major surge in Wednesday's curtailed trading session for the index to maintain a 12 year run of December gains, given it started the month at 6722.
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