Search Results for: SAFE
Swiss National Bank introduces negative interest rates
December 18th, 2014
Minimum exchange rate reaffirmed, and target range for threemonth Libor lowered into negative territory The Swiss National Bank (SNB) is imposing an interest rate of –0.25% on sight deposit account balances at the SNB, with the aim of taking the three-month ...
UK Government to resume sell-off of its stake in Lloyds Banking Group
December 18th, 2014
The government is to resume the sell-off of its stake in Lloyds Banking Group over the next six months, potentially disposing of a further £3bn worth of shares in the run-up to the general election. Chancellor George Osborne took ...
Who Are the Winners of Russia’s Ruble Meltdown?
December 18th, 2014
The Russian ruble‘s spectacular falls this year have been relentlessly portrayed as bad news. But with the ruble now down some 45 percent against the U.S. dollar since January, are there no winners? Companies that produce in Russia but sell abroad are bound ...
Disney and Skype ‘used Luxembourg tax deals’
December 12th, 2014
Companies including Disney and Skype have allegedly used Luxembourg tax deals, according to fresh leaks published by investigative journalists. The group of firms funnelled hundreds of millions of dollars in profits through Luxembourg subsidiaries, according to leaked documents. Disney ...
Two decades after the peso crisis, Mexico faces new shocks
December 12th, 2014
MANY factors contributed to Mexico’s “tequila crisis” in 1994, but two stood out: tighter monetary policy in the United States and political instability at home. Almost exactly 20 years later, the same forces are again weighing on the currency, ...
Yen Heads for Biggest 3-Day Gain in a Year as Volatility Rises
December 10th, 2014
The yen strengthened, heading for its biggest three-day gain versus the dollar in more than a year, as a decline in shares around the world and slowing growth in China boosted demand for haven assets. Japan’s currency advanced against ...
SEC Sanctions Eight Audit Firms for Violating Auditor Independence Rules
December 9th, 2014
The Securities and Exchange Commission today sanctioned eight firms for violating auditor independence rules when they prepared the financial statements of brokerage firms that were their audit clients. SEC investigations found that the audit firms, which agreed to settle ...
BITCOIN NEWS IN REVIEW: MASTERCARD, MINING DIFFICULTY, SILK ROAD, AND MORE
December 9th, 2014
“For Everything Else, There’s Bitcoin” This week, payments company MasterCard argued for tighter regulations against bitcoin in Australia. According to MasterCard, “Any regulation adopted in Australia should address the anonymity that digital currency provides to each party in a ...
Commodity Benchmarks Seen Open to Manipulation, Law Firm Says
December 8th, 2014
Almost two-thirds of commodity market participants say that benchmarks used to set the price of everything from crude oil to ethanol to zinc are vulnerable to manipulation, according to a new study. The report, to be published today by ...
Toyota to recall 190,000 cars in Japan, China over Takata air bags
December 4th, 2014
Toyota Motor Corp (7203.T) said on Thursday it would call back 190,000 more vehicles, mostly in Japan, to replace potentially defective air bags made by Takata Corp (7312.T), the latest in a long line of recalls for the embattled auto ...
