The Frankfurt prosecutors said their probe was focusing on two Deutsche Bank employees aged 50 and 46, as well as several unnamed senior staff members
Since November, the new airline boss has splurged on new hires and brought in expensive consultants
New regulations will require investors to bear the risk of South African bank failures.
If guilty, the five major institutions could be sued in SA for deals done locally
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A research paper has raised the possibility that banks have been working together to manipulate the London gold fix rate.
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<em>The New York Times</em> has revealed that Wal-Mart covered up findings of an internal probe that proved its Mexican subsidiary bribed officials.
Where is all the money coming from to build dirty coal-powered energy plants?
Stocks slid again as Europe struggled to contain a debt crisis in Greece that is threatening to plunge the continent back into recession.
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/ 12 September 2011
Mounting fears over the possibility of a Greek debt default and signs of division within Europe’s policymaking circles sent bank stocks sharply lower.
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/ 5 September 2011
Europe’s top banks are due to meet to share insights on whether the latest sovereign debt crisis squall could yet turn into a financial market storm.
A golden decade is predicted in Germany, which has made a remarkable comeback.
Wall Street is putting its money behind Democrat Barack Obama for president, despite worries that his administration would raise taxes and take a tougher line on trade and regulation. The signs Wall Street reads point to Democrats prevailing in the November presidential and general election as voters punish the incumbent Republican party.
Vladimir Putin on Thursday took over as Russia’s Prime Minister a day after leaving the Kremlin and pledged to curb inflation and cut taxes to make Russia a leading economic power. Putin said in a speech to Parliament presenting his candidacy that he wanted ”single-digit inflation within a few years.
China and India and are moving toward becoming the biggest economies in the world: with 2,4-billion people, or 40% of the world’s population and annual GDP growth rates of between 8% and 10%, experts say that they could one day overtake the United States.
Australian Geoff Ogilvy parred his final nine holes on Monday, including a crucial chip-in at the 13th, to win the World Golf Championships CA Championship and end Tiger Woods’s seven-tournament win streak. Darkness halted Sunday’s storm-interrupted final round with Ogilvy needing to finish the back nine and Woods five off the pace with seven to play.
An affiliate of United States-based buyout firm Carlyle Group has defaulted on about ,6-billion of debt and expects its lenders to seize remaining assets as the global credit crunch tightens around leveraged investors. A ”successful refinancing is not possible,” Carlyle Capital said.
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/ 22 January 2008
The United States Federal Reserve on Tuesday slashed a key interest rate by a hefty three-quarters of a percentage point, the biggest cut in more than 23 years, after a two-day global stocks rout sparked by fears of a US recession. ”The Fed is very, very, very worried,” said John Tierney, an analyst at Deutsche Bank.
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/ 22 January 2008
The European Union’s exective commission fine-tuned a blueprint to slash the bloc’s greenhouse gas emissions amid lobbying on Tuesday over details which environmentalists said over indulged oil companies and airlines. The EU is trying to lead the global fight against climate change without harming a fragile economy.
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/ 16 January 2008
German engineer Michael Bosch is not fazed by the lack of a gym and other creature comforts at his budget hotel in a converted Shanghai office building. He’s stayed at such hotels on nearly a dozen trips to Chinese cities. ”All I need is a clean, warm place to sleep. I don’t care so much about service,” the 32-year-old said as he waited for 10 minutes for a distracted receptionist to attend to him at a Motel168 on the edge of Shanghai’s financial district.
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/ 19 November 2007
When gold reached dizzying heights above a troy ounce in recent weeks, it cast a spotlight on a ritual that has taken place in London for the past 88 years. Twice a day, representatives of five banks pick up the phone to trade physical gold and arrive at the London ”fixing” price.
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/ 31 October 2007
Merrill Lynch parted company on Tuesdya with its chief executive, Stan O’Neal, leaving the investment bank’s leadership in a state of limbo and prompting unease on Wall Street. After days of speculation, Merrill announced that O’Neal (56) had decided to retire with immediate effect.
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/ 30 October 2007
The head of the Wall Street investment bank Merrill Lynch was on Monday night negotiating a severance package tipped to be as high as -million after a risky strategy of betting billions on American mortgage-backed securities came disastrously unstuck.
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/ 13 October 2007
A United States appellate court on Friday allowed claims brought by victims of apartheid against dozens of major companies to go forward, saying a lower court erred in ruling it did not have jurisdiction over the matter. The plaintiffs include South Africa’s non-profit Khulumani Support Group.
UBS AG, the world’s largest wealth manager, unveiled $3,4-billion in losses, has swept out senior managers and slashed jobs in one of the biggest casualties yet of the worldwide credit crunch. UBS said on Monday it will write down a net four billion Swiss francs ($3,42-billion) in its fixed-income portfolio and elsewhere.
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/ 17 September 2007
Greece’s conservatives on Monday faced the tough task of tackling reforms needed to catch up with euro zone countries after winning a second mandate with only a narrow majority in Sunday’s election. Prime Minister Costas Karamanlis, praised by Brussels for his economic record, vowed to push on with reforms.
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/ 10 September 2007
European stocks fell by midday on Monday in a choppy session as gains in commodity stocks were overshadowed by mounting concern that the United States economy could be headed for recession after Friday’s dismal jobs report. Oil and gas shares were the top performers on the broader European market in spite of a fall in crude oil futures.