Search Results for: assets
China uncovers $10bn fake trading of finance companies
September 26th, 2014
China has uncovered $10bn (£6.1bn) worth of fake trades as part of a nationwide crackdown on finance companies. The currency regulator said 15 fraud cases had been handed over to the police for prosecution. Companies sometimes falsify transactions as ...
Russian lawmaker drafts bill on Foreign-Asset Freeze
September 26th, 2014
A member of Russia’s ruling party proposed a law that would allow the seizure of foreign states’ assets in the country after the U.S. and its allies targeted President Vladimir Putin’s inner circle including a childhood friend with asset ...
Another Western Energy Company Ends Russian Cooperation
September 25th, 2014
ExxonMobil Corp. was the first Western company to bow to Western sanctions against Moscow and suspend offshore Arctic drilling for Rosneft, the Kremlin-owned oil giant. Now another large Western energy company, France’s Total, is ending its effort with Russia’s ...
BOC to sell high-yield bond fund in Europe
September 24th, 2014
One of China’s state-owned banks has struck a deal with Citigroup to market its first fund to pension funds and retail investors in Europe. Bank of China Hong Kong Asset Management, which is owned by Bank of China, has ...
Mario Draghi: ECB should Become More Active
September 23rd, 2014
Mario Draghi says he won’t sit back and wait for stimulus to reach the economy. The European Central Bank president said a planned asset-purchase program shows that policy makers will steer the size of the institution’s balance sheet to ...
FCA gives another fine to Barclays
September 23rd, 2014
The Financial Conduct Authority has imposed another fine to Barclays. As a result, Barclays is expected to be stung today with a £38m fine for failing to ensure adequate protection of clients’ funds. In particular, the fine relates to ...
FINMA initiates bankruptcy proceedings against Espirito Santo
September 22nd, 2014
The Swiss Financial Market Supervisory Authority FINMA initiated bankruptcy proceedings against Banque Privée Espírito Santo SA. FINMA found that the bank, which has been in voluntary liquidation since July 2014, was over-indebted. According to current estimates, the bank is ...
Bank of America shares to increase 50 percent in three years
September 22nd, 2014
Bank of America Corp (BAC.N), the second-largest U.S. bank by total assets, could see its shares climb 50 percent over the next three years, Barron’s financial newspaper said on Sunday. The bank could report earnings per share of $2 ...
Commodities Suffer at Hands of Fed
September 19th, 2014
Commodities dropped to the lowest level in more than five years after the Federal Reserve raised its outlook for interest rates, bolstering the dollar and reducing the appeal of raw materials as a store of value. The Bloomberg Commodity ...
BNP Paribas hires ex-U.S.Treasury official for compliance job
September 19th, 2014
BNP Paribas (BNPP.PA) has hired a former top official at the U.S. Treasury Department’s sanctions office, people familiar with the matter said, part of the French bank’s effort to build up its compliance department after its record settlement over ...
