EU sanctions on Russia will cut Moscow's access to “sensitive” technologies in the oil sector, according to European Council head Herman Van Rompuy. The gas sector – which Europe depends on – will be unaffected, including Gazprom's South Stream pipeline.
The US House of Representatives unanimously passed legislation on Friday that would allow consumers to “unlock” their cell phones in order to switch wireless networks. It now heads to President Obama for his signature.
Lloyds Banking Group (LBG) is nearing a settlement with US and UK regulators for its alleged role in the manipulation of Libor rates – the major interest rate benchmark that determines the cost of up to $350 trillion worth of global financial products.
Russian-made firearms are reportedly flying off the shelves of American gun stores after the United States Treasury Department announced sanctions last week against the maker of the popular AK-47 rifle.
Jim O’Neill would have never imagined his intellectual exercise will turn into flesh and blood one day –the “accidentally” huddled initials of geographically disparate nations will become so real to make the New Development Bank (NDB).
A modest increase in interest rates could render almost 25 percent of UK households in severe financial stress, according to a report published on Thursday. The Bank of England (BOE) has confirmed that such rate hikes are imminent.
One in 25 New Yorkers is a millionaire according to a study, which ranked the Big Apple fourth in the top 20 global cities for high earners. Millionaires are defined as individuals with more than $1 million in net assets, excluding a primary residence.