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Banking

Police pepper sprays protest in Germany as activists storm new EU central bank HQ (PHOTOS, VIDEO)
German police used pepper spray and clashed with anti-EU protesters, who stormed and vandalized the new European Central Bank building, which is under construction now in central Frankfurt.

22.11.2014 19:05

​Russia-China trading settlements in yuan increases 800%
Settlements in yuan between China and Russia have increased ninefold in annual terms between January and September 2014, says the Chinese Ministry of Economic Development.

21.11.2014 13:57

Pittance payback: RBS 'compensates' furious customers, some get £1
​Scotland’s biggest bank is getting around to making amends for an IT crash in 2012 that left millions of its customers without access to their accounts for weeks. It will dish out $88 million (£56 million) to pay for its mistake.

21.11.2014 07:01

​EU is in serious trouble and it’s not Russia’s fault
Angela Merkel has criticized Vladimir Putin’s, apparent, strategy to spread Russia’s sphere of influence in Eastern Europe. The Chancellor doesn't acknowledge that Germany’s domination of Europe has been disastrous for some states.

20.11.2014 22:05

Where has all Ukraine's gold gone?
Ukraine’s Central Bank chief has divulged some shocking intel: its gold stockpile has reached a new nadir - almost zero. Since the beginning of the year, gold reserves have dropped nearly 16-fold, which begs the question, where did all of it go?

20.11.2014 14:33

​Russia to crack down on over-the-counter ‘Forex clubs’ at banks
The Central Bank of Russia intends to stop banks from operating in-house foreign exchange (Forex) markets or offering the service to Russian customers, according to the First Deputy Governor Sergey Shvetsov.

20.11.2014 11:49

Former head of Iceland’s Landsbanki jailed for role in 2008 crash
Sigurjon Arnason, the ex- CEO of Landsbanki, one of the three Icelandic banks that crashed and ruined the economy in 2008, has been sentenced to 12 month in prison for manipulating the bank’s share price and deceiving investors in the bank’s dying days.

20.11.2014 07:22

Banking breeds cheating for financial gain - Swiss researchers
Society expects bank employees to be honest when entrusting them with money. However, new research involving bankers suggests they are more likely than other professionals to be dishonest if they are reminded about their professional role.

20.11.2014 06:21

Russia’s biggest bank launches financing in Chinese yuan
Sberbank, Russia’s largest lender, will be the first bank in the country to start issuing credit guarantees denominated in Chinese yuan. The new yuan-based letters of credit ensure payments between buyers and sellers, with the bank acting as a router.

18.11.2014 13:55

Russian ruble recovering against US dollar as oil heads back to $80
The Russian currency started to bounce back in Tuesday trading, as oil prices edged closer to $80 per barrel, an important benchmark that was crossed last week.

18.11.2014 08:58

Call me Mx! RBS announces ‘gender neutral’ banking, alternative to ‘Mr’ & ‘Mrs’
The Royal Bank of Scotland (RBS) will no longer ask for your mother’s maiden name as a security question, in order to include LGBT people. The bank may also offer account holders the option of using ‘Mx’ instead of the gender normative ‘Mr’ or ‘Mrs’.

17.11.2014 13:12

Russians spending spree on real estate, cars as ruble plunges
The weak ruble is transforming the way Russian save and spend their money, with many turning to property, cars, and jewelry instead of seeing their money depreciate in the bank.

17.11.2014 10:34