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UBS Traders May Be First to Face Sanctions in Forex Probes
December 2nd, 2015
Swiss regulator may issue penalties by the end of the year Finma probed 11 currency, metals traders amid global scandal As many as seven UBS Group AG traders may face sanctions from Switzerland’s financial watchdog in the coming weeks, ...
Interactive Brokers Group Reports Brokerage Metrics for November 2015
December 2nd, 2015
Interactive Brokers Group, Inc. (NASDAQ GS: IBKR) an automated global electronic broker and market maker, today reported its Electronic Brokerage monthly performance metrics for November. Highlights for the month included: 640 thousand Daily Average Revenue Trades (DARTs), 11% higher ...
The truth about GDP
December 1st, 2015
“I can prove anything by statistics except the truth” – George Canning Canning’s aphorism is as valid today as when he was Britain’s Prime Minister in 1817. Unfortunately, his wisdom is ignored completely by mainstream economists. Nowhere is this ...
FRC calls for transparent disclosure of tax risks in corporate reports
December 1st, 2015
The Financial Reporting Council (FRC) will conduct a thematic review of companies’ tax reporting to encourage more transparent recording of the relationship between the tax charges and accounting profit. The required disclosures are key to helping users understand the ...
Morgan Stanley Said to Plan Global Fixed-Income Job Cuts
December 1st, 2015
Cuts would be across regions and take place in next two weeks Bank’s fixed-income trading revenue dropped 42% last quarter Morgan Stanley is planning a reduction of as much as a quarter of its fixed-income staff after years of ...
Standard Bank to Pay $4.2 Million to Settle SEC Charges
December 1st, 2015
Bank Agrees to $36.9 Million Global Settlement with the SEC and the U.K.’s Serious Fraud Office The Securities and Exchange Commission today charged Standard Bank Plc with failing to disclose certain payments in connection with debt issued by the ...
Russia and Saudi Arabia Battle for Control of European Oil Market
December 1st, 2015
Both Russian and Saudi companies have aggressively discounted their crude exports to Europe, dimming hopes of production cuts A contest for dominance in Europe’s oil market is heating up between the world’s two biggest oil exporters—Saudi Arabia and Russia—as ...
Chinese Debt Snowball Gaining Momentum
November 30th, 2015
Financial crises can happen quickly, like the bursting of the tech stock bubble in early 2000, or slowly, like the late-1980s junk bond bust. The shape of the crash depends mostly on the asset in question: Equities can plunge ...
Deutsche Bank’s Swiss Unit to Pay $31 Million in Tax Case
November 27th, 2015
U.S. has reached non-prosecution deals with 57 Swiss banks Firms have paid a total of $570.4 million in tax accords Deutsche Bank AG’s Swiss unit agreed to pay $31 million to receive a non-prosecution agreement in a U.S. probe ...
ISIS parks its cash in Bitcoin, experts say
November 26th, 2015
Just days after the hacker group Anonymous pledged to hunt down Islamic State members and launch cyberattacks against their accounts, a separate group of techies claims it has identified a key funding avenue for the terror network – bitcoin accounts. Ghost ...
