Search Results for: Wall Street Journal
China banks suspend controversial yuan remittance scheme
July 15th, 2014
Major Chinese banks have temporarily suspended a yuan remittance service after a state broadcaster accused the country’s fourth biggest lender Bank of China (BOC) of allowing wealthy Chinese to launder money offshore through the scheme, the Wall Street Journal ...
Co-heads of ICAP’s EBS Market FX trading platform leave
July 11th, 2014
ICAP, the world’s largest brokerage, said on Thursday that the co-heads of its flagship electronic foreign exchange trading platform, EBS Market, had left the firm amid a management shake-up at the broader business. Darryl Hooker, who has been head ...
SEC readies new rules for money funds
July 10th, 2014
The Securities and Exchange Commission (SEC) may soon roll out new regulations for money market mutual funds, at least those used by institutional investors. The rules would abolish the constant $1-a-share price for money funds and put limits on ...
Silicon Valley is moving into Bitcoin
July 9th, 2014
Richard Waters, writing in Financial Times, is reporting that Silicon Valley’s A-Listers seem to be fast climbing onto the Bitcoin bandwagon. More and more of Silicon Valley’s venture capitalists have been queuing up to invest in Bitcoin start-ups. Yesterday, ...
German Industrial Output Drops
July 7th, 2014
German industrial production plunged in May at its sharpest pace in more than two years, suggesting that Europe’s largest economy struggled to expand in the spring after a robust first quarter. Industrial production dropped 1.8% on a seasonally adjusted ...
India To Revamp Colonial Era Train Networks, Courting Foreign Investment
June 30th, 2014
India’s new Prime Minister plans to overhaul the country’s massive state-run railway system. Originally built under British colonial rule, the train system is one of the largest in the world, and serves roughly 25 million passengers every day — ...
European Stocks Decline for Fourth Day Amid Iraq Violence
June 25th, 2014
European stocks fell for a fourth day, the longest stretch in seven weeks, as violence in the Middle East escalated. U.S. index futures were little changed, while Asian shares declined. GDF Suez SA dropped 3 percent after France said ...
‘Bitcoin Bowl’ deal with BitPay brings Digital Cryptocurrency closer to Legitimation
June 19th, 2014
To win over a public still skeptical of digital currencies and to get some good headlines in a year marked by bad press for its falling price and bankruptcy scandals, bitcoin promoters are turning to America’s favorite pastime – ...
Six banks sued over trustee roles
June 19th, 2014
A group of big investors including Blackrock and Pimco are suing six different banks including Deutsche Bank and HSBC for their role as trustees of mortgage-backed securities in the lead up to and during the financial crisis. In six ...
Expedia to accept Bitcoin payments for hotel bookings
June 12th, 2014
One of the world’s largest online travel agencies, Expedia, has become the latest company to accept Bitcoin transactions as a form of payment. The firm will initially accept the virtual currency for hotel bookings only, and is currently restricting ...
