Search Results for: Banks
Visa To Keep UK Presence After BoE Steps In
November 2nd, 2015
The Bank of England wants Visa Inc to keep a big UK presence after the $23.5bn takeover of Visa Europe, Sky News learns. The Bank of England has told the credit card giant Visa to keep a substantial presence ...
Saudi Arabia reacts sharply to S&P downgrade of kingdom’s debt rating
November 2nd, 2015
Saudi Arabia yesterday reacted sharply to Standard & Poor’s move to downgrade the kingdom’s debt rating. The debt rating agency said it would downgrade Saudi Arabia’s long-term rating a notch, from AA- to A+ with “a negative outlook”, citing ...
China raises central rate for yuan by largest amount in a decade
November 2nd, 2015
China raised the central parity rate of the yuan by 341 basis points to 6.3154 against the US dollar on Monday (2 November), the largest amount by far on a single day in a decade. The move comes at ...
How Payment Giants Are Embracing Bitcoin and Blockchain Tech
October 30th, 2015
MasterCard‘s participation in Digital Currency Group’s undisclosed funding round sent ripples of excitement across the crypto-sphere earlier this week. While this is MasterCard’s first crypto-related investment, the multinational corporation is not the first mainstream finance company to dip its toe in ...
Barclays sets aside £290m for foreign exchange compensation
October 30th, 2015
Provision for customers takes Barclays’ legal bill to £2.3bn in nine months, as critics say latest move does little to restore company’s tarnished reputation Barclays is embroiled in yet another scandal after admitting it expects to pay £290m to compensate ...
Report on Financial Structures details structural changes in the euro area financial sector
October 30th, 2015
New ECB report covers banks as well as other financial intermediaries Banks, insurance companies and pension funds in largest euro area economies exposed primarily domestically Consolidation and rationalisation in the banking sector continued in 2014, and the median Tier ...
Fiat money quantity update
October 30th, 2015
After a few months of slower growth, FMQ has picked up again. FMQ is the sum of True Money Supply (as defined by the Austrian School of Economics), plus the banking system’s reserves and other banking-related liabilities on the ...
Rabobank trader tells jury he ignored traders’ requests to rig Libor
October 29th, 2015
A former Rabobank trader accused of engaging in a scheme to manipulate Libor told a jury on Wednesday that he sometimes learned of improper requests from traders to rig the benchmark rate, but never acted on them. The testimony ...
Windsor Brokers Ltd Announces New EXPROCURITY Motto
October 27th, 2015
Investment firm Windsor Brokers Ltd. focuses on the three main strengths that have made it one of the top investment firms worldwide. Windsor Brokers has recently launched its own brand new motto called ‘Exprocurity’ – an acronym which stands ...
JPMorgan Chase is building a rival to Apple Pay
October 27th, 2015
JPMorgan Chase said on Monday it will soon launch its own competitor to Apple Pay that will allow consumers to pay retailers using their smartphones in stores, and it has already won the endorsement of a major group of ...
