LATEST NEWS : Ukraine and Russia take center stage as leaders gather for G20

A showdown between Western leaders and Russian President Vladimir Putin is likely at the G20 summit in Australia starting on Saturday, following fresh reports of Russian troops pouring into eastern Ukraine. Ukraine has accused Russia of sending soldiers and weapons to help separatist rebels in eastern Ukraine launch a new offensive in a conflict that […]

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LATEST NEWS : Investigators turn bankers into informants in forex probe – WSJ

U.S. investigators have turned several bank employees into informants to gather evidence against some of their colleagues in the probe of possible manipulation of currency markets, the Wall Street Journal reported, citing people familiar with the matter. Britain’s Financial Conduct Authority (FCA) and U.S. regulators are investigating allegations that dealers at major banks colluded and […]

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LATEST NEWS : World waits for white smoke from U.S. Fed

The U.S. Federal Reserve may give clearer hints on when it will hike the cost of borrowing in the United States in the coming week, as struggling Europe braces for a tight vote in Scotland on whether to leave the United Kingdom. continue reading at reuters.com

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LATEST NEWS : Ownership of UK gold up for negotiation if Scotland votes "Yes"

An independent Scotland could lay claim to a part of the United Kingdom’s 310-tonne gold reserves if votes go in favour of the “Yes” campaign this month, with ownership of Britain’s bullion hoard up for negotiation along with other assets. “The distribution of the UK’s assets in the event of Scottish independence would be subject […]

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LATEST NEWS : EU reaches preliminary deal on Russia economic sanctions

European Union ambassadors reached a preliminary agreement on Friday to push ahead with hard-hitting economic sanctions against Russia over the Ukraine crisis but details remained to be worked out, diplomats said. The 28-nation EU has toughened its stance towards Moscow since last week’s downing of a Malaysian airliner in an area of eastern Ukraine held by Russian-backed […]

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LATEST NEWS : EU Banks Must Shun Bitcoin Until Rules in Place, EBA Says

The European Commission signaled it will try to impose rules on virtual currencies such as Bitcoin after the bloc’s banking regulator ordered lenders to shun them. “It’s imperative to move quickly on this issue,” Chantal Hughes, a spokeswoman for Financial Services Commissioner Michel Barnier, said by e-mail today. “The potential for money laundering and terrorist financing is too serious […]

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LATEST NEWS : Bank of England's Carney says bankers should be less selfish

Bankers should think less about personal gain and more about the health of the rest of the economy, Bank of England Governor Mark Carney said on Tuesday. Speaking at a conference on ‘inclusive capitalism’ organised by the City of London – which was also addressed by former U.S. President Bill Clinton and Britain’s Prince Charles – […]

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Barclays, Deutsche Bank Accused of Gold Fix Manipulation

Barclays Plc (BARC), Deutsche Bank AG (DBK) and three other banks were accused in a lawsuit of manipulating the London gold fix, a benchmark used throughout the $20 trillion market for the metal. Kevin Maher, a New York resident who says he bought and sold gold and gold futures and options, sued yesterday in Manhattan federal court claiming the five banks […]

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China's yuan dislodges Swiss franc as 7th most-used currency: SWIFT

China’s yuan surpassed the Swiss franc to become the seventh most-used world payments currency in January, global transaction services organization SWIFT said on Thursday. With a market share of 1.39 percent, the yuan remained one of the top 10 most-usedcurrencies for payments worldwide for the third consecutive month. It ranked eighth in December. Yuan payments increased by 30.6 percent while the growth for all […]

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Barclays to cut 12,000 jobs, pays bigger bonuses

(Reuters) – Barclays said it would axe up to 12,000 jobs this year even as it raised bonuses for investment bankers, prompting fury among politicians and unions who said it had not learned the lessons of the financial crisis. Britain’s third-biggest bank said up to 9 percent of employees could go, including 7,000 in Britain, […]

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