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Banking

Bank of America agrees to record $17bn settlement over mortgage fraud
America’s second largest lender has reached a $16.65 billion settlement with US federal authorities for selling toxic mortgages misleading investors, the Justice Department said Thursday.

20.08.2014 18:37

Wall Street banks ‘may desert UK for Ireland’ if Britain leaves EU
Wall Street banks could abandon Britain for the Republic of Ireland if the UK decides to leave the EU, senior figures in the industry have reportedly said. This is despite a Forbes report that names London the world’s ‘most influential city’.

19.08.2014 11:56

European recovery is a sweet fairy tale
Recent EU data shows the economy is increasingly dead on arrival despite repeated claims from Brussels that recovery is at hand.

18.08.2014 10:03

Russia launches China UnionPay credit card
Forget Visa and MasterCard. After the two American credit system payment companies froze accounts without notice in March, Russia has been looking for an alternative in China UnionPay.

15.08.2014 17:43

​UK unemployment falls, but youth still feeling pinch
Hundreds of thousands of young people in Britain are likely to remain unemployed, despite the country’s ongoing economic recovery, a leading UK think tank has said.

13.08.2014 08:57

Technological dystopia looming, dooming the West
This latest Russian 'sanctions tilt' toward nuclear confrontation comes alongside a quiet and apparently unconnected launch of a global digital ID system through the City of London’s slick mouthpiece magazine, The Economist.

11.08.2014 08:50

Bitcoin: Baffling or brilliant?
Governments are struggling to understand bitcoin. Understanding history might help them better appreciate the Copernican revolution in money.

11.08.2014 06:00

Russia, China agree on more trade currency swaps to bypass dollar
The Russian and Chinese central banks have agreed on a draft currency swap agreement, which will allow them to increase trade in domestic currencies and cut the dependence on the US dollar in bilateral payments.

08.08.2014 13:38

HSBC targets account of Syrian refugees in the UK
Banking giant HSBC has been accused of “shamelessly profiling” its customers after it closed bank accounts belonging to Syrian refugees and students in the UK.

08.08.2014 08:34

​Bank of America to pay record fine of up to $17bn over mortgage mis-selling
Bank of America, the second largest US lender is close to ending a landmark deal with US authorities to pay up to $17 billion – a record fine - to the Justice Department over its role in the 2007 financial crisis.

07.08.2014 13:19

Romanian beef added to Russia's 'imports black list' in tit for tat sanction row
Russia has imposed a food import ban on Romanian beef, adding to restrictions already in place on Polish vegetables and Ukrainian juice, in what is being seen as an extension of its response to more biting Western sanctions announced last week.

06.08.2014 14:11

Switzerland to enforce EU sanctions on Russia
The Swiss government has extended sanctions to include 26 people in Russia and Ukraine, as well as 18 organizations, so the country isn’t used as a channel to avoid EU and US sanctions.

05.08.2014 12:41

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