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Banking

Merrill Lynch unveils $8 million ‘boys club’
The entrance ticket to the new “Pinnacle Club” at Merrill Lynch is now $8 million, as the sum top brokers need to produce in commissions and fees has doubled. The joys of membership include $10,000 in cash and additional benefits, Reuters reports.

22.04.2014 07:31

Shocker: Average credit card interest climbs to 21%
As credit card companies try and spur consumer spending in the United States with introductory perks and cash rewards, they have raised interest rates on other customers to a remarkable 21 percent.

21.04.2014 17:12

Asia eyes Russian investment as Western ties deteriorate
​Asian business is keen to snatch development opportunities in Russia as economic ties with the West are weighed down by the Ukraine crisis, the Deputy Chairman and the Board member of Russia’s Vnesheconombank Aleksandr Ivanov, told RT.

18.04.2014 07:46

​World’s Central Banks ‘are gambling immense amounts of money’
The banking system is completely dysfunctional, and it is going to lose legitimacy as we are nowhere near the solution of the too-big-to-fail problem, Robert Pringle, chairman and founder of the Central Banking Journal, told RT.

17.04.2014 11:50

Cyprus warns economic sanctions against Russia will destroy its economy
Cyprus Foreign Minister Ioannis Kasoulides told a German newspaper Wednesday that economic sanctions against Russia by Europe would destroy the Cypriot economy, adding that every EU state should decide separately whether they want to cut ties with Moscow.

16.04.2014 16:12

Ukraine backlash could result in 0% Russia GDP growth
Escalating violence in Eastern Ukraine could be a blow to Russia’s economy, with 0 percent growth a possibility according to the Russian Finance Minister Anton Siluanov.

16.04.2014 08:12

Ukrainian banks quit Crimea
Banks are packing up and leaving Crimea as Kiev prepares sanctions against Ukrainian companies operating on the Black Sea peninsula.

15.04.2014 07:01

​Russian banks vote for national payment system from scratch
Banks polled by the Central Bank of Russia (CBR) say they want a completely new domestic payment system created from scratch instead of using one of the three systems already in the works.

14.04.2014 15:08

Ukraine’s first IMF money won’t be used to pay off Russian debt
Paying off debt to Russia will not be a first priority for Ukraine when it secures its first tranche of International Monetary (IMF) bailout cash, Oleksandr Shlapak, coup-imposed Ukraine’s Finance Minister has said.

11.04.2014 08:42

Greece returns to bond market after 4-year hiatus
After a four year exile from the euro bond market, Greece is back. Investors bought 3 billion euro ($4.16 billion) in 5-year bonds, offering a glimmer of hope as the euro zone economy continues to crawl out of its debt crisis.

10.04.2014 14:49

Politics aside, western financiers still want to do business with Russia
Western banks in the US and EU still want to do business with Russia’s second biggest bank, VTB, but tension over Ukraine is stonewalling those eager to work with the bank, according its head, Andrey Kostin.

10.04.2014 07:44

​Fatal finance? Bankers in Netherlands, Liechtenstein found dead
A former executive of the Dutch bank ABN AMRO has committed suicide after killing his wife and daughter, and the head of Liechtenstein's Bank Frick has been found shot dead in a car park. The suspect in the Frick shooting had a grudge against the bank.

09.04.2014 06:49

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