Search Results for: SAFE
China’s Central Bank Discusses Digital Currency Launch
January 21st, 2016
The People’s Bank of China (PBoC), the country’s central bank, is moving toward the launch of its own digital currency. The PBoC said in a 20th January release that it had held a meeting discussing the possibility in Beijing. Attendees included central bank governor Zhou Xiaochuan and ...
R3 brings eleven major global financial institutions together on a cloud based distributed ledger
January 21st, 2016
Financial technology innovation company, R3 CEV, today announced the successful completion of a ground breaking distributed ledger experiment involving eleven of the world’s largest financial institutions. R3 and consortium member banks Barclays, BMO Financial Group, Credit Suisse, Commonwealth Bank of ...
Some Shanghai Banks Said to Curb Individual Forex Purchases
January 21st, 2016
Banks said to request close checks by branches for violations Shanghai SAFE vows crackdown on illegal foreign transactions Some Shanghai banks have asked their branches to strictly control the sale of foreign exchange to individuals, according to people familiar ...
FTSE 100 index plunges into ‘bear market’ territory as oil price rout wipes another £52bn off top-flight share values
January 21st, 2016
Footsie plunged 203 points or 3.5% to close at 5,673 That means £52bn has been wiped off blue-chip share values today Now more than 20% below April 2015’s 7,103 high – firmly a bear market Panic over oil price after ...
Bitcoin: Is the crypto-currency doomed?
January 20th, 2016
A high-profile Bitcoin developer has said the crypto-currency has failed and he will no longer take part in its development. Mike Hearn, a Zurich-based developer and long-time proponent of Bitcoin, surprised many this weekend when he published a blog calling ...
Barclays launches new digital cash collection service for businesses
January 19th, 2016
New ‘Barclays Collect’ service is driving innovation for business cash collection Customers can book their collection online from mobile or desktop Businesses can book cash collection straight from their door rather than travelling to a branch Barclays is launching ...
PRA takes enforcement action against former Co-op Bank individuals
January 18th, 2016
The Prudential Regulation Authority (PRA) has today prohibited Barry Tootell, the former Chief Executive (CEO) of the Co-operative Bank Plc (Co-op Bank) and Keith Alderson, the former Managing Director of the Co-op Bank’s Corporate and Business Banking Division, from ...
Wells Fargo Surpasses Citigroup
January 18th, 2016
Wells Fargo sees 6% growth in assets; Citigroup posts strong annual profit Starting the new year, most big banks are touting their regimens to slim down: Wells Fargo & Co. just keeps growing. The San Francisco-based bank surpassed Citigroup Inc. to become the ...
Asia markets close mostly down; Japan, Australia near bear markets
January 18th, 2016
Markets in Asia closed mostly lower Monday, on the back of another Wall Street sell-off Friday. Major indexes in Australia and Japan were nearing bear market territory, down over 18 percent from their 52-week highs. Down Under, the Australian ...
ECB policymakers divided over China risks
January 15th, 2016
Policymakers at the European Central Bank disagreed at their last meeting over how big a threat turmoil in China and other emerging markets pose to Europe’s modest economic recovery. The result of the Dec. 3 debate, for which a ...
