Archives
GM Sued for $10 Billion Over Losses on 27 Million Cars
October 16th, 2014
General Motors Co. (GM) was hit with its biggest lawsuit so far over serial recalls, brought on behalf of drivers of 27 million vehicles seeking more than $10 billion in compensation for fallen car prices. The would-be class action ...
BVI Welcomes International Recognition for Financial Center
October 16th, 2014
The Premier of the British Virgin Islands, Orlando Smith, has welcomed recent recognition for the territory from two new independent surveys about offshore financial centers. The BVI achieved the highest rating among offshore centers in the Global Financial Centers ...
HMRC launches new FATCA online service
October 16th, 2014
HMRC has launched a new online service for UK financial institutions to register and report financial information on behalf of their US clients. In 2010, the US passed the Foreign Asset Tax Compliance Act (FATCA), meaning foreign financial institutions ...
UK blocks €5bn Russian North Sea deal
October 16th, 2014
The UK has blocked a €5bn deal by Russian billionaire Mikhail Fridman to acquire gas fields in the North Sea, as even private Russian companies with no connection to Russian president Vladimir Putin’s inner circle fall victim to the ...
China Credit Growth Climbs as Targeted Easing Kicks In
October 16th, 2014
China’s broadest measure of new credit rose to a three-month high in September as the central bank’s targeted measures to boost liquidity helped spur lending. Aggregate financing was 1.05 trillion yuan ($171 billion), the People’s Bank of China said ...
European stocks open higher
October 16th, 2014
European stocks are opening higher and Bund yields are moving up from record lows as investors bet the latest risk asset sell-off is overdone. Tokyo’s Nikkei 225 equity gauge fell 2.2 per cent after Asia inherited news of a ...
Stocks Lower Thursday After Rough Day on Wall St.
October 16th, 2014
Investors have grown increasingly concerned over signs that global economic growth is faltering and that policy makers may lack the monetary and fiscal tools necessary to stop the slide. The volatility in global markets extended into another day, with ...
Steep Sell-Off Spreads Fear to Wall Street
October 16th, 2014
Dizzied by the turmoil, Wall Street experts agreed on one thing: The jarring day showed that fear had finally returned to markets that had become disconcertingly complacent. Waves of nervous selling buffeted the stock market in the United States ...
Central bankers may have no quick fix as markets swoon, economy weakens
October 16th, 2014
Global central bankers, eager to see the economy stand on its own feet, faced the rude reality this week of market turmoil threatening already faltering growth and prolonging world reliance on easy money. Stocks slumped again on Wednesday pushing ...
Fall in Oil Prices Poses a Problem for Russia, Iraq and Others
October 16th, 2014
From Moscow to Caracas, Riyadh to Baghdad, in Tehran, Algiers, Kuwait City and Lagos, officials are confronting the plunge in prices — roughly 25 percent since a peak in June. A steep decline in oil prices is straining the ...
