Search Results for: assets
Despite Exposure of Madoff Fraud, New Ponzi Schemes Emerge
July 11th, 2014
When the money was rolling in from investors, Scott W. Rothstein, a lawyer in Fort Lauderdale, Fla., bought his wife, Kimberly, more than $1 million in jewelry, including an opulent 12-carat yellow diamond ring. He lived in a multimillion-dollar ...
ECB keeps banks on tight leash for health check results
July 10th, 2014
The European Central Bank wants to give banks just 48 hours to review the results of a balance sheet health check so it can guard against data leaks even though the banks would like more time. The ECB is ...
State Street Agrees to Settle Forex Fee Suit for $60 Mln
July 10th, 2014
State Street Corp. (STT) agreed to pay $60 million to settle investor claims it inflated revenue by overcharging clients for foreign-exchange services, in a pact that resolves almost four years of litigation. The preliminary accord filed in Boston federal ...
BoE Rate at 0.5%
July 10th, 2014
The Bank of England’s Monetary Policy Committee at its meeting today voted to maintain Bank Rate at 0.5%. The Committee also voted to maintain the stock of purchased assets financed by the issuance of central bank reserves at £375 ...
China Said to Probe Alleged Bank of China Money Laundering
July 10th, 2014
China’s central bank and currency regulator are investigating a state media report that alleged Bank of China Ltd. broke rules on transferring money overseas, two government officials familiar with the matter said. The probe focuses on whether Bank of ...
Argentina’s Sovereign Bondage
July 10th, 2014
Sovereign debt has been back in the news recently, this time because of a United States Supreme Court ruling concerning Argentine debt. As a result of the ruling, a complicated issue is likely to become even more so. Sovereign ...
Banks face intensified sanctions probes in U.S.
July 10th, 2014
Following BNP Paribas’ record $8.9 billion in penalties for violating U.S. economic sanctions, federal and state authorities are intensifying investigations of other foreign banks over signs of similar infractions. At least six banks in Germany, France, Italy or Japan ...
Stagflation for HSBC Means Russian Ruble Seen Weakening
July 9th, 2014
The weakest pace of economic growth in five years combined with the fastest inflation (RUCPIYOY) in three are prompting the most-accurate ruble forecaster to predict steeper declines for the currency. The ruble will fall 9.2 percent to 37.50 by ...
Vatican bank chief to step down amid restructure
July 9th, 2014
The president and four non-executive members of the governing board of the Vatican bank are due to step down. The move, part of a restructure of the Catholic Church’s central government, will be announced on Wednesday. Pope Francis has ...
Juncker faces dilemma over EU tax probe into Grand Duchy
July 9th, 2014
Foot-dragging by Luxembourg over an EU probe into questionable tax deals for multinational corporations has created a potential conflict of interest for the Grand Duchy’s former premier who is set to head the EU’s executive branch. Jean-Claude Juncker, whose ...
