To the dismay of Wall Street and the United States government, much of Europe appears ready to start taxing financial trading as soon as 2014. The idea is not new; However, until now, financial institutions and markets have been able to keep away this type of tax in major markets. With financiers claiming a tax [...]
On Wednesday, The New York Times said that it intends to sell the New England Media Group, which includes The Boston Globe and related on-line properties; and has hired an investment banker to help locate a buyer. The Times hired Evercore Group, a firm based in New York, that has assisted with other transactions involving [...]
The U.S. Federal Reserve Bank of St. Louis’ internal servers and files were hacked by the hacktivist group Anonymous according to a report on ZDNet. The ZDNet report alleges that ”the new attack is Anonymous’ response to the information security community’s anger at the Federal Reserve (“The Fed”) for its dismissive attitude and lack of transparency around [...]
G20 Finance Ministers – Central bankers and finance ministers from the 20 world leaders in developing and industrial countries made a pledge on Saturday that they won’t target their exchange rates to compete. The Moscow meeting, which lasted two-days, ended on Saturday with a collective communiqué that included a promise and pledge that the G20 [...]
The European Union budget cut will ensure that Prime Minister Cameron will receive a warm reception from the Tory MPs when he does his report on achieving his goal to receive a first cut in the budget worked out in Brussels. Driven by abundant cups of coffee from a new Nespresso machine, UK prime minister [...]
SINGAPORE: According to a source who claims to have knowledge of the queries, internal probes by banks in Singapore found proof that traders conspired to manipulate band rates in the offshore foreign exchange market. This latest discovery broadens a worldwide lending rate aspersion into new exchange markets, as a consequence of the Libor situation puts banks [...]
An American official will head a world-wide group given the task to launch a one-of-a-kind identifier for financial operators and banks, to provide regulators with a better picture of what their exposure is and ways to prevent a crisis. The chief counsel at the United States Office of Financial Research (OFR), Matthew Reed, would be [...]
Ed Koch, the three-term mayor who assisted in bringing New York back from fiscal ruin during the 1970s and came to enthrall the city with his outspoken, wry style, died Friday Feb 1. He was 88-years old. When Koch was mayor from 1978 to 1989, he was quick-witted, and forceful with a trademark phrase, “How’m [...]
George Soros, a highly outspoken critic of Germany’s proposed austerity policies to attempt to fix the European debt crises, said that the euro is here to say and will gain momentum while other nations try to devalue their currencies. Soros the man who made $1 billion US by shorting the British pound back in 1992, [...]
Recently revealed 2007 documents unveil policymaker’s failure to grasp the severity of the 2008 recession. According to transcript’s recently American officials at the Federal Reserve, gravely underestimated the likelihood that the world economy would plunge into a financial crisis in 2007. On Friday, a series of transcripts from high-level meetings between policymakers throughout 2007 was [...]
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