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Nokia beats market expectations in third-quarter
October 23rd, 2014
Finland’s Nokia on Thursday beat market expectations as it reported strong third-quarter profit growth and lifted the profitability outlook for its core network unit on the back of network roll-outs in North America and China. The network unit showed ...
Bank of Canada maintains overnight rate target at 1 per cent
October 22nd, 2014
The Bank of Canada today announced that it is maintaining its target for the overnight rate at 1 per cent. The Bank Rate is correspondingly 1 1/4 per cent and the deposit rate is 3/4 per cent. Inflation in ...
Audit Commission reveals highest ever levels of council fraud detection
October 22nd, 2014
Nearly £200M of fraud has been detected by English councils in 2013/14 – the highest amount for a generation and ten times the 1990 figure, the Audit Commission has revealed. In its latest – and last – report on ...
Italy uncovers EUR 1.7 bn vast corporate fraud
October 22nd, 2014
Italy’s financial police on Tuesday said they had broken up a ring of companies they believe used false accounting to defraud the state out of 1.7 billion euros ($2.2 billion) of tax. “The illegal activity has led, over the ...
Polish company first in the world to sell shares for Bitcoins
October 21st, 2014
A Polish company, InPay S.A., is the first in the world whose shares are available for purchase in public offering using the digital currency Bitcoin. The sale has just launched on the equity crowdfunding site Beesfund.com. Equity crowdfunding is ...
Forex-Rigging Fines Could Hit $41 Billion Globally: Citi
October 21st, 2014
The cost for banks to settle probes into allegations traders rigged foreign-exchange benchmarks could hit as much as $41 billion, Citigroup Inc. (C) analysts said. Deutsche Bank AG (DBK) is seen as probably the “most impacted” with a fine ...
HMRC arrests three in £80m tax fraud and money laundering bust
October 21st, 2014
HMRC officers have arrested three men on suspicion of tax fraud and money laundering offences worth up to £80 million. Over 70 officers swooped on the men in dawn raids at three London addresses last Friday. Cash totalling £150,000 ...
Apple earnings beat expectations on strong iPhone sales
October 21st, 2014
Apple reported third-quarter earnings of $8.47bn (£5.24bn), a 13% rise from the same period a year earlier, beating analysts’ expectations. Profits at the technology giant were helped by sales of its new iPhone 6 models, which were on sale ...
UK Tax Gap Widens
October 20th, 2014
The UK tax authority, HM Revenue and Customs (HMRC), has revealed that the UK tax gap grew to 6.8 percent in the fiscal year 2012-13, up 0.2 percent year-on-year. The tax gap, which measures the amount of tax that ...
SEC Charges New York-Based High Frequency Trading Firm With Fraudulent Trading
October 17th, 2014
The Securities and Exchange Commission sanctioned a New York City-based high frequency trading firm for placing a large number of aggressive, rapid-fire trades in the final two seconds of almost every trading day during a six-month period to manipulate ...
