Search Results for: MoU
Standard Chartered to close MidEast branches
November 13th, 2014
Standard Chartered is set to cull an unspecified number of branches in the Middle East, as part of plans to cut up to 100 locations in emerging markets next year in a bid to save $400 million. The global ...
Forex traders plotted strategy in secret chats
November 13th, 2014
Traders of major banks fined $4.3 billion Wednesday for attempted manipulation of foreign exchange markets used electronic chat rooms to plot their moves. Transcript excerpts of conversations released Wednesday by the Commodity Futures Trading Commission show traders from U.S. banks Citibank(C) ...
FATCA Letters Promise Disclosure To IRS, What To Do?
November 12th, 2014
If you have a bank account anywhere outside the U.S., chances are you will receive a letter saying that your bank must hand over the details of any American accounts, including yours. The letters vary with the country and ...
FINMA sanctions foreign exchange manipulation at UBS
November 12th, 2014
The Swiss Financial Market Supervisory Authority (FINMA) has concluded enforcement proceedings against UBS AG (UBS) regarding foreign exchange trading conducted in Switzerland. FINMA found that over an extended period of time the bank’s employees in Zurich at least attempted ...
FCA fines five banks £1.1 billion for FX failings
November 12th, 2014
The Financial Conduct Authority (FCA) has imposed fines totalling £1,114,918,000 ($1.7 billion) on five banks for failing to control business practices in their G10 spot foreign exchange (FX) trading operations: Citibank N.A. £225,575,000 ($358 million), HSBC Bank Plc £216,363,000 ...
The Two New Tools of Monetary Policy
November 12th, 2014
Every basic exposition of how monetary policy is conducted before about 2008 is soon to become obsolete. The three basic monetary policy tools that used to be taught in almost every introductory economics course were changing reserve requirements, changing ...
FCA confirms price cap rules for payday lenders
November 11th, 2014
People using payday lenders and other providers of high-cost short-term credit will see the cost of borrowing fall and will never have to pay back more than double what they originally borrowed, the Financial Conduct Authority (FCA) confirmed today. ...
If Everything Is Just Fine, Why Are So Many Really Smart People Forecasting Economic Disaster?
November 11th, 2014
The parallels between the false prosperity of 2007 and the false prosperity of 2014 are rather striking. If we go back and look at the numbers in the fall of 2007, we find that the Dow set an all-time high ...
Google signs 60-year lease on NASA airfield and hangars
November 11th, 2014
Google has sealed a deal to lease NASA’s Moffett Airfield for the next 60 years after beginning negotiations for the land back in February. Under terms of the agreement, Google will pay NASA an estimated $1.16 billion in rent over the life of the ...
Putin seeks to reassure world amid ‘perfect storm’
November 11th, 2014
The Russian ruble strengthened against the dollar on Monday after President Vladimir Putin said there were no “fundamental economic reasons” for the currency’s slide, but analysts –and the country’s central bank — beg to differ. Speaking at an Asia ...
