A US court has ordered Argentina to payback $1.3 bn to NML and Aurelius Capital Management, reports Euronews. That is 100% of their investment in Argentinian debt when the country went bankrupt in 2001. Argentina agreed with 93% of its bondholders on a debt restructuring...
Read More
The amount of money a typical family would need to maintain a basic standard of living has risen five times as much as earnings since before the recession (since 2008), authoritative new research shows. A couple with two children would now need just under £40,600 (more...
Read More
The measures to bolster the slowing economy by changing the way loan-to-deposit ratios are devised in China. Now banks can include in the calculation negotiable certificates of deposit sold to companies or individuals, the China Banking Regulatory Commission said. They can also exclude loans advanced...
Read More
China's top banks accounted for almost one-third of a record $920 billion of profits made by the world's top 1000 banks last year, showing their rise in power since the financial crisis. China's banks made $292 billion in aggregate pretax profit last year, or 32%...
Read More
French bank BNP Paribas has pleaded guilty to two criminal charges and agreed to pay almost $9 billion to resolve accusations that it had violated U.S. sanctions against Sudan, Cuba and Iran. It is a severe punishment aimed at sending a clear message to other...
Read More
June is always the hardest time for senior university students. That’s when they must suffer the hardships of a strenuous internship period, while not expecting to gain too much from it. Internship is a must for senior students, as it helps them accumulate experiences useful for...
Read More
Tanzania has ratified the Protocol on the establishment of the East African Monetary Union (EAMU) to harmonize payments and settlement systems and facilitate smooth business transactions among the members of the East African Union (Uganda, Kenya, Tanzania, Burundi, and Rwanda). The next step is to dispatch...
Read More
The entire United States gold hoard, including gold supposedly held at the Fed for other countries, is now gone, – told the former US Treasury official, Dr. Paul Craig Roberts to the site King World News. This is very bad news for Germany and other...
Read More
On June 25, New York Attorney General Eric Schneiderman filed civil fraud charges against Barclays over its private stock trading platform, contending that it favored high-frequency traders over other investors. Eric Schneiderman accused Barclays of “a systematic pattern of fraud and deceit” by falsely representing the...
Read More
Tax on bank deposits to be created in Spain told reporters Budget Minister Cristobal Montoro in Madrid. As El Pais earlier reported the government will impose a type "moderate" levy on deposits to compensate communities their tax autonomy canceled after the Executive created constitutionally...
Read More