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Trading losses at Knight Capital Group Inc were about $270 million after taxes from the August 1 software glitch that sent the firm scrambling for a financial lifeline, Chief Executive Tom Joyce told clients in a letter.

Knight Capital Group Inc's future remained in flux as it headed into the weekend trying to clinch a rescue deal, but there was skepticism on Wall Street that one of the largest U.S. equities trading firms would find a suitor before Monday.

JPMorgan Chase is expected to accept the resignation of one of the highest-ranking women on Wall Street after the bank lost $2 billion in a trading blunder, a person familiar with the matter said Sunday....

China loosens its currency controls in a move that may spur gains in the value of the yuan. From Monday, the yuan can fluctuate up to 1% in trading against the US dollar from a fixed price set by the central bank, the People's Bank of China said.

Banks would be barred from trading for their own profit instead of their clients under a rule being proposed by federal regulators.

Morgan Stanley's first-quarter profit dropped nearly 50 percent, hurt by a steep decline in bond trading revenue.

U.S. regulators should stem the growing tide of anonymous stock-trading and consider charging high-frequency traders fees for the disproportionate amount of orders they send into the marketplace, said a panel of experts advising how to avoid another "flash crash."

Lawmakers on Tuesday spared auto dealers from new scrutiny and neared agreement on trading limits for banks as they raced to complete the biggest overhaul of the financial rule book since the 1930s.

The Obama administration reasserted its commitment to banning proprietary trading by banks with draft legislative language on Wednesday, despite signs that Congress is unlikely to adopt such a rule.

The SEC voted 3-2 to approve a long-anticipated short-selling rule to place curbs on the practice for individual securities experiencing declines of 10% or more in a single day.