24th October 2017
A US jury has found a former HSBC executive from the UK guilty of defrauding client Cairn Energy in a 2011 currency trade. Prosecutors said Mark Johnson schemed to increase the price of sterling before converting $3.5bn into pounds for Cairn, benefiting HSBC. Mr Johnson, the former head of HSBC’s… Read More
23rd October 2017
By William Watts, CNBC Add Saudi billionaire Prince Alwaleed bin Talal to the roster of high-profile investors and financiers who don’t believe bitcoin and other cryptocurrencies are here to stay. “I just don’t believe in this bitcoin thing. I think it’s just going to implode one day,” Alwaleed told CNBC… Read More
23rd October 2017
The Financial Conduct Authority (FCA) has fined US banking giant Bank of America Merrill Lynch (BAML) £34.5m for failing to disclose millions of exchange traded derivative transactions. Since the financial crisis the regulator requires transactions of that kind to be declared as it believes it allows it to measure the… Read More
20th October 2017
20 October 2017 By by MacDonald Dzirutwe, REUTERS A Belgian-based businessman on Friday challenged Zimbabwean First Lady Grace Mugabe’s accusation that he duped her of a $1.35 million diamond ring and asked her to provide the court with evidence to back her lawsuit. President Robert Mugabe’s wife Grace this week… Read More
20th October 2017
By Arjun Kharpal, CNBC The price of bitcoin could be heading to over $10,000, nearly half of respondents to a CNBC survey said. Forty-nine percent of the 23,118 people who voted said above $10,000. Similar calls have been made by market participants. Former hedge fund manager Michael Novogratz told CNBC… Read More
19th October 2017
UPI The implementation of United Nations Security Council sanctions could block as much as $1.3 billion in capital inflows to North Korea, a South Korean analyst said Wednesday. Kang Sun-joo, a professor at the Korea National Diplomatic Academy in Seoul, said in a report released Wednesday the Security Council has… Read More
16th October 2017
The Reserve Bank of India (RBI) last week released a set of master directions for issuance and operation of Prepaid Payment Instruments (PPI), commonly known as wallets. With the previous directions released back in 2009, the new norms encompass interoperability (allowing wallets to transact with each other) and stricter KYC… Read More
16th October 2017
The Anti-Money Laundering and Counter-Terrorism Financing Amendment Bill 2017, also known as Australia’s “bitcoin bill”, has marked some important progress. Today, the Senate Legal and Constitutional Affairs Legislation Committee published its report on the bill making only two recommendations: some definitions should be clarified; and the bill should be… Read More
13th October 2017
South Korea’s tax agency said Friday it will crack down on tax evasion by big businesses and wealthy individuals to boost its tax revenue. The National Tax Service plans to thoroughly look into possible capital outflows by high-income earners and conglomerates and check moves to pass on managerial control of… Read More
13th October 2017
SKY NEWS A former Portuguese prime minister has been indicted on graft and money laundering charges as part of a vast corruption investigation. Jose Socrates has repeatedly denied wrongdoing and has dismissed charges contained in a more than 4,000-page indictment as politically motivated. Issued after a four-year inquiry, it accuses… Read More