Archives
FBI sentences man for a $3.4 Million Forex trading fraud
July 17th, 2014
The American Federal Bureau of Investigation(FBI) has announced that a Quincy man swindled more than two dozen investors out of $3.4 million in an exotic foreign exchange fraud run from his Quincy home. Marcellus Lopes Lee was indicted in ...
Hedge fund plans American Apparel future without ex-CEO Charney
July 17th, 2014
Standard General, a little-known hedge fund that has taken the reins of American Apparel, has mapped out a recovery plan for the retailer with or without its ousted Chief Executive Officer Dov Charney. The fund invests in companies that ...
Arab Bank group profit rises by seven per cent
July 17th, 2014
Arab Bank Group net profit after tax and provisions during the first half of 2014 grew by seven per cent to $414.9 million from $387.3 million in the same period last year. Loans and advances also increased by four ...
eBay profits rise despite ‘challenging quarter’
July 17th, 2014
Online retailer eBay reported profits of $676m (£395m) during the period from March to June, beating analyst expectations. Shares in the company were up by more than 1.5% in trading after the US stock market closed. Although revenue grew ...
U.S. sanctions set to slow Rosneft’s dollar debt, not oil deals
July 17th, 2014
President Barack Obama aimed a direct blow at Russia’s economic heart on Wednesday with sanctions on Rosneft, the flagship oil giant that generates more than 4 percent of the world’s crude and over 8 percent of the country’s GDP. ...
U.S. foreclosure activity hits lowest level since 2006: RealtyTrac
July 17th, 2014
Foreclosure activity in the United States dropped last month to the lowest level since July 2006, before the housing bubble burst, and likely will continue to drop through the first half of next year, an industry group said on ...
China urges U.S. not to abuse trade system for own advantage
July 17th, 2014
China’s commerce minister urged the United States on Thursday not to abuse the global trade system by imposing duties on Chinese goods to protect its own economy, following a rebuke to Washington by the World Trade Organization. WTO judges ...
Asia follows Wall St. higher, euro probes lows
July 17th, 2014
Asian equities gained on Thursday, lifted by another record-high close on Wall Street, while the euro probed recent lows against the dollar amid speculation the U.S. Federal Reserve is tilting toward tighter monetary policy in light of a stronger ...
Yellen Says Restraining the Fed’s Oversight Would Be a ‘Grave Mistake’
July 17th, 2014
The Federal Reserve’s chairwoman, Janet L. Yellen, said on Wednesday that it would be a “grave mistake” for Congress to adopt legislation proposed by House Republicans constraining the Fed’s management of monetary policy. Ms. Yellen and Republican lawmakers traded ...
G20 must shape a new world trade regime
July 17th, 2014
Over the past decade global trade and investment discussions have moved far away from the formal global trade regime. The multilateral system has been mired in the Doha Development Round — defined by a single undertaking and a fixed ...
