Search Results for: assets
FCA targets those most at risk of investment fraud
October 15th, 2014
FCA in an effort to inform investors and prevent investment frauds has issued a campaign to raise awareness on the issue. Investment scams generally involve high-pressured selling, using boiler room tactics, for products which often do not exist, including ...
Citi pulls out of consumer banking in 11 countries, profit jumps
October 15th, 2014
Citigroup Inc said it is pulling out of consumer banking in 11 markets, including Japan and Egypt, as the U.S. bank with the biggest international business looks to cut persistently high costs. The third-largest U.S. bank, built with a ...
$20 Billion Property Trusts in India halted by Tax Rules
October 14th, 2014
The Indian government has announced rules for setting up real estate investment trusts, vehicles that may spur $20 billion of property development. None of the money will be spent unless the country’s tax code is revised. “REITs cannot take ...
Abigail Johnson Named CEO of Fidelity Investments
October 14th, 2014
Fidelity Investments is getting its first new chief executive since the Carter administration. In a memo to employees, the nation’s second-largest fund manager said Monday that it named Abigail Johnson, its 52-year-old president, to the additional post of CEO. ...
FATCA and the real cost of compliance
October 14th, 2014
Foreign account tax Compliance Act (FATCA) was introduced by the US government in the year 2010. The main focus of FATCA act is to reduce tax evasion by foreign finance institutions through offshore Accounts and shell companies. Apart from ...
Agile’s Chairman placed under custody
October 13th, 2014
Agile Property Holdings Ltd. tumbled the most on record after its billionaire founder and chairman Chen Zhuolin was placed under the control of Chinese prosecutors and amid reports it assisted in money laundering in legal news. The stock plunged ...
European banks raise more capital before ECB stress test
October 13th, 2014
Euro zone banks have raised 35 percent more capital ahead of the European Central Bank’s (ECB) latest stress test than they had set aside before the 2011 review, according to a report published by law firm Linklaters. The euro ...
Statoil sells Shah Deniz stake for $2.25 billion to Petronas
October 13th, 2014
Norway’s Statoil (STL.OL) has sold its remaining 15.5 percent stake in the Azeri gas project Shah Deniz to Malaysia’s Petronas for $2.25 billion, the latest in a string of asset sales made to shore up returns to shareholders. ...
Vertical Integration Group LLC, to Pay over $2.5 Million in Monetary Sanctions
October 9th, 2014
Federal Court Orders Florida Resident Richard Morello and His Florida Company, Vertical Integration Group LLC, to Pay over $2.5 Million in Monetary Sanctions for Engaging in Illegal, Off-Exchange Precious Metals Transactions Junior Alexis, Florida Resident and Vertical Integration Group, ...
Pimco Loss Is MetWest Gain as New Gross Fund Slow to Win
October 9th, 2014
Pimco’s pain isn’t Bill Gross’s gain, at least not yet. The Janus Global Unconstrained Fund, managed by Gross, received $66.4 million in September, according to Morningstar Inc., a fraction of the $23.5 billion that left his former fund at ...
