Search Results for: foreign exchange
Profits Vanish in Venezuela After Currency Devaluation
July 9th, 2014
Brink’s, the armored car company, could see about $400 million in revenue disappear this year from its operations in this country. Procter & Gamble announced a write-down of $275 million on its Venezuela business. American Airlines and Delta Air ...
Commerzbank Shares Fall on News of Settlement Talks
July 8th, 2014
Shares in Commerzbank fell about 3.5 percent on Tuesday following news that Germany’s second-largest lender could be the latest European institution to settle with the American authorities over suspicions that it violated sanctions. The broader German stock market was ...
Dollar Falls Most in a Week Versus Yen after Fed Rate report
July 8th, 2014
The dollar fell the most in more than a week against the yen as investors gauge the timing of Federal Reserve interest-rate increases after reports showing a strengthening jobs market. The Bloomberg Dollar Spot Index rose earlier after Goldman ...
10 IGAs Join ‘In Substance’ FATCA List Just Before July 1
July 7th, 2014
Ten further foreign jurisdictions were included by the United States Treasury in its latest monthly list, issued on July 1, 2014, as having reached agreements in substance on June 30, 2014, on the terms of intergovernmental agreements (IGAs) under ...
Singapore Says More Overseas Criminals Seek Bank Accounts
July 2nd, 2014
Singapore prosecuted a record number of money laundering cases and seized more than S$115 million ($92 million) of suspected criminal proceeds in 2013 as more overseas offenders seek out bank accounts in the city. “Singapore’s openness as an international ...
After BNP, U.S. targets on more banks
July 1st, 2014
BNP Paribas’ guilty plea and agreement to pay nearly $9 billion for violating U.S. sanctions is part of a larger U.S. Justice Department shift in strategy that is expected to snare more major banks and other firms across the ...
Offshore Tax Crackdown Opens With 30% Penalties for Banks
June 30th, 2014
The Internal Revenue Service is about to get an unprecedented look at bank accounts and investments U.S. citizens hold abroad, through a law that is making it harder to hide assets from the tax collector. Tomorrow, the U.S. government ...
Rethinking the Sino-American Relationship
June 27th, 2014
In early July, senior US and Chinese officials will gather in Beijing for the sixth Strategic and Economic Dialogue. With bilateral frictions mounting on a number of fronts – including cyber security, territorial disputes in the East and South ...
European Stocks Decline for Fourth Day Amid Iraq Violence
June 25th, 2014
European stocks fell for a fourth day, the longest stretch in seven weeks, as violence in the Middle East escalated. U.S. index futures were little changed, while Asian shares declined. GDF Suez SA dropped 3 percent after France said ...
Singapore to Require Banks to Hold Liquid Assets for Crises
June 25th, 2014
Banks in Singapore will soon be required to keep certain amounts of easy-to-sell assets on hand in the country to support themselves in times of stress. The new liquidity framework applies to lenders with a “significant retail presence” in ...
