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Two Greek Banks Are Asking For Emergency Assistance
Two Greek banks are requesting emergency liquidity assistance (ELA) from the Bank of Greece, according to local media. The ELA offers emergency assistance to stop banks that are still solvent, but are...
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One Greek Bank Miraculously Avoided Market Chaos But It's Not Clear Why
Greece's banks are getting absolutely obliterated today. Well, that is, all but one Greek bank.Shares in Attica Bank closed up 3.57%, and rose by as much as 7% earlier. It's the only bank now trading...
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A massive leak has exposed shady dealings by HSBC’s Swiss banking arm
HSBC’s Swiss banking arm helped wealthy customers dodge taxes and conceal millions of dollars of assets, doling out bundles of untraceable cash and advising clients on how to circumvent domestic tax...
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Officials involved in Brazil's worst corruption scandal also allegedly had...
SAO PAULO (Reuters) - Brazil's tax watchdog opened a probe on whether about a dozen people involved in the Petrobras corruption scandal also allegedly had undeclared accounts with HSBC Holdings Plc's...
View ArticleThis NYC bank-turned-mansion bought by a photographer for $102,000 just sold...
Photographer Jay Maisel purchased 190 Bowery in 1966 for $102,000. The property has recently been sold for an astounding $55 million to real estate investor Aby Rosen. And for the first time here's an...
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This is how a gang of incredibly patient hackers stole up to $1 billion from...
The New York Times has published a dramatic story about how a gang of hackers broke into banks around the world and stole up to $1 billion.Security researcher Kaspersky has published a report with some...
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French prosecutor formally asks for HSBC to face a criminal trial over its...
The French financial state prosecutor has requested that HSBC’s Swiss private bank be sent to criminal trial over a suspected tax-dodging scheme for wealthy customers.The recommendation follows a...
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Japan and Australia are ignoring warnings from the US not to join China's new...
TOKYO/SYDNEY, (Reuters) - Japan signaled cautious approval of the China-led Asian Infrastructure Investment Bank (AIIB) on Friday and said for the first time that, if conditions were met, it could join...
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China’s government seems to have a clear long-term vision
Chinese Prime Minister Li Keqiang’s work plan for 2015, revealed at this month’s National People’s Congress, highlighted the country’s shift to a “new normal” of 7% economic growth.The shift to slower...
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The US is isolated as its friends line up to join China-led bank
WASHINGTON (AP) — U.S. resistance to a Chinese-led Asian regional bank has left it isolated among its Asian and European allies and given some heft to China's frequent complaints that Washington wants...
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CEO of Canadian bank dies after triathlon
Canadian financial company Canaccord Genuity said Thursday that its president and chief executive, Paul Reynolds, has died in Hawaii after a medical emergency during a triathlon competition. He was...
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The Wells Fargo employee who emailed the CEO asking for a $10K raise for his...
The Wells Fargo employee who emailed the bank's CEO last year asking for a raise for himself and his colleagues has left his job. "After 7 years last Friday was my last day with with Wells Fargo,"...
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Here's how to think of China's new Asian Infrastructure Investment Bank
One of the more interesting and fun assignments I had while working in the research department of the World Bank was to travel around India and interview local government officials about their...
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An armored car spills cash on a highway in Texas, chaos ensues
A Brinks Armored Truck spilled a bag full of cash on a Texas highway on Friday, slowing traffic as motorists stopped on the road to scoop up money, police said."At this time, it appears as if most of...
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Elizabeth Warren just laid out all the financial reforms she wants to push...
Elizabeth Warren made a speech at the Levy Institute's Minsky Conference on Wednesday and laid out some major financial reforms she wants to push through. "The culture of cheating on Wall Street didn’t...
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Why the US must think differently about China's new development bank
The founder of modern Singapore, Lee Kwan Yew, who passed away recently, had a rather pointed assessment of what’s known as the U.S.“Asia pivot” policy: Americans think of international relations like...
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One-eighth of Moldova's GDP has gone missing
Around $1 billion dollars has disappeared from banks in Moldova, one of Europe's poorest countries.Around 10,000 demonstrators — out of a population of 3.5 million — took to the streets of Moldova this...
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Banks face a fresh slew of risks as the era of low interest rates nears its end
LONDON (Reuters) - Rising interest rates after years of loose monetary policy will pose a fresh risk to banks' ability to absorb losses using capital buffers, the Bank for International Settlements...
View ArticleThese are the 6 factors that move exchange rates
HiWayFX put together this video explaining the six factors that influence exchange rates.Video courtesy of HiWayFXFollow HiWayFX:On FacebookFollow BI Video: On Facebook Join the conversation about...
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Investors have recovered more than $2 billion from banks over price-rigging
Investors have recovered more than $2 billion in settlements with nine banks over claims of price-rigging in the foreign exchange market, and are continuing to pursue claims against seven other banks,...
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