Search Results for: US authorities
Switzerland To Join Multilateral Convention On AEOI
November 20th, 2014
The Swiss Federal Council has approved plans for the nation to join the Multilateral Competent Authority Agreement (MCAA) on the Automatic Exchange of Financial Account Information, describing it as a logical step, after it agreed in principle in May ...
BNP Baribas: Another blow for France’s beleaguered bank
November 20th, 2014
Just months after paying a $9 billion fine to the American authorities for violating sanctions against Cuba, Iran and Sudan, BNP Paribas is back in the gunsights. France’s national financial prosecutor is looking into allegations that senior figures at ...
Lufthansa signs $1.25 billion outsourcing deal with IBM
November 18th, 2014
IBM (IBM.N) has won an outsourcing contract from Germany’s Lufthansa (LHAG.DE) worth 1 billion euros ($1.25 billion) that will see the U.S. company take over the airline’s information technology infrastructure services division and staff. The move is part of ...
Islamic finance body IIFM launches collateralised murabaha standard
November 17th, 2014
The Bahrain-based International Islamic Financial Market (IIFM) has launched a standard contract template for collateralised murabaha transactions, aiming to boost use of a sorely needed liquidity management tool for Islamic finance institutions. The standard will serve as an alternative to repurchase ...
Sydney Yuan Hub Seen Saving Importers 7% in Trading: Currencies
November 17th, 2014
Australian importers are in line for a windfall as speculation grows that Chinese President Xi Jinping will use his visit to the country this week to anoint Sydney as a yuan trading center. The ability to exchange Australian dollars ...
UK hands fraud agency all funds needed for forex probe
November 14th, 2014
Britain’s finance ministry will hand the country’s anti-fraud agency all the funds it needs to conduct a criminal investigation into alleged rigging of the $5.3 trillion-a-day currency market, a Treasury source said. Finance minister George Osborne has written to ...
EU says Starbucks’ Dutch tax deal may be illegal
November 14th, 2014
A deal between Starbucks Corp’s (SBUX.O) and Dutch authorities may be illegal state aid as it allows the world’s biggest coffee chain to make payments on a lower corporate income tax base, European Union antitrust regulators said on Friday. The comments ...
China to Waive Capital-Gains Tax for Foreigners on Link
November 14th, 2014
China will waive capital-gains taxes for foreign stock investors using the Shanghai-Hong Kong (HSCEI) bourse link, clarifying its rules three days before the program’s debut provides unprecedented access to mainland shares. Chinese individuals who buy Hong Kong equities through the link get a ...
Bubble Bobble – blowing and bursting bubbles
November 14th, 2014
Those of you that grew up in the mid 80’s might remember the pre-internet/smartphone era when playing electronic games involved leaving your home and physically going to an amusement park or arcade. This usually meant having to put metal ...
Fed investigating bank conduct in forex markets
November 13th, 2014
The U.S. Federal Reserve is investigating possible improper conduct in foreign exchange markets by large banking institutions, a spokesman said on Wednesday. “The Federal Reserve is continuing to investigate in the foreign exchange markets in coordination with other authorities, including the Department of ...
