It has no profit, no revenue and no assets, and that proved to be no hurdle to the meteoric rise of tech startup Cynk Technology. On Friday morning, the top U.S. securities regulator shut down the party. Cynk’s stock, which is traded on an unregulated over-the-counter...
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Complaining they had worked without pay for months late last year, employees of the Serbian farming company Agroziv staged a short strike in January. Why should they work for no money, they said. The company, a poultry producer in the north of the country, was short...
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Michigan Attorney General Bill Schuette’s office has released a broad advisory on digital currencies, stating they carry “real-life risk” and urging consumers to learn more about bitcoin and other currencies before purchasing or using them. The advisory echoes similar releases by other state agencies, many of...
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In Spain, where there was a debt crisis just two years ago, investors are so eager to buy the government’s bonds that they recently accepted the lowest interest rates since 1789. In France, a cable-television company called Numericable was recently able to borrow $11 billion, the...
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Geoff Bascand, deputy governor and head of operations at the Reserve Bank of New Zealand (RBNZ) has said that digital currencies could one day evolve to supplant cash as we know it. In a recent speech delivered to the Royal Numismatic Society in Wellington over the...
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In early July, the European Banking Authority (EBA), supervising banking regulation in the EU, has issued a recommendation on handling cryptocurrencies. According to it, the banks should refrain from trading, storage or other interactions with cryptocurrencies, including the bitcoin. The recommendation advises to wait until there will be regulations developed to prevent risks, assuming that there are 70 of them in the document. However, the potential benefits of cryptocurrencies as compared to the weak points of the existing system are...
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Citigroup Inc is close to paying about $7 billion to resolve a U.S. probe into whether it defrauded investors on billions of dollars worth of mortgage securities in the run-up to the financial crisis, a source familiar with the matter said on Tuesday. A majority of...
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An increasing number of prominent international voices are starting to question why the U.S. dollar should be so overwhelmingly dominant in global trade, writes Michael Snyder on American site The Economic Collapse. China and South Korea have signed a major agreement to facilitate trade...
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China and the United States will discuss the yuan’s value as well as the impact of U.S. monetary policy at a meeting this week, Chinese Vice Finance Minister Zhu Guangyao said on Monday. Top Chinese and U.S. officials, including U.S. Treasury Secretary Jack Lew, will hold...
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Vietnam’s heavy dependence on the US dollar gives it few policy choices, the Vietnam Business Forum’s Macro-economic Policy Working Group (MAG) has commented. Hoang Thanh Hung, a tour guide, sighed with relief when informed that he finally could sell the hundreds of yuan he has kept...
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