US authorities have begun to negotiate with Germany's Commerzbank and Deutsche Bank over their dealings with countries blacklisted by American government. That is another crackdown on European banks who are not happy with the US sanctions policy. The talks with state and federal authorities have just begun, a source said, however, the timing of a deal is not set, Reuters reports.
French Minister of Finance, Michel Sapin, is standing against the US dollar as the main currency for the international transactions, the Financial Times says.
Japanese business confidence has sagged since a sales tax hike in April, suffering the first deterioration in six quarters, a survey from the Bank of Japan showed Tuesday. The Tankan survey, which covers the April-June period, showed confidence among large manufacturers stood at plus 12 after hitting a more than six-year high of plus 17 in the preceding quarter.
Mexican tycoon Carlos Slim has bought out US telephone operator AT&T's $6 billion stake in telecommunications firm America Movil, the company announced Friday. The acquisition of AT&T's shares in the company represents 8.27% of America Movil's capital stock, according to a company statement.
Australia said on Friday it would consider calls for a national inquiry into a major financial scandal at the country's biggest listed firm, but would not rush a decision.
South Korea's industrial output shrank for the second straight month in May, reflecting slow exports and a smaller number of working days, government statistics showed Friday. Production in the mining, manufacturing, gas and electricity industries fell 2.7% from the previous month, Statistics Korea said.
Shares in the company behind GoPro cameras, used to capture sports action from players' perspectives, jumped more than 30 percent on their first day of trading. GoPro shares were trading at $31.34 at close of the Nasdaq on Thursday.
Russian Government allocated more than $87 million for educational needs, career development trainings and new school buses in Crimea, the Russian government said.
The Federal Reserve slashed its 2014 growth forecast for the US economy Wednesday to 2.1-2.3 percent after a deeper-than-expected contraction in the first quarter of the year, reports AFP.
UK authorities intend to introduce criminal liability for manipulation on the foreign exchange market
The Vatican announced on Saturday that its financial crimes watchdog had signed cooperation deals with Britain, France and four other nations - Malta, Poland, Romania and Peru. A statement said that under the agreements, the Financial Intelligence Authority agreed to "exchange of financial information to fight money laundering and combat terrorist financing".
The Ukrainian economy has always been scarce and only ex-Prime Minister Nikolay Azarov’s cabinet managed to bring debts into balance. The current authorities in Kiev are surviving only due to the previous government’s achievements, ex-Deputy Prime Minister, ex-manager of the Ukrainian National Bank Sergey Arbuzov believes.
Chinese companies are ready for transactions with Russia in rubles and yuans, the Finance Ministry quoted its head Anton Siluanov in its Twitter account, TASS reports.
The rapprochement between Russia and China may have a negative impact on the position of the dollar as the world reserve currency, CNBC reports citing an investment manager at West Shore Group and partner at Tangent Capital Partners, Jim Rickards. After Gazprom had signed a multi-billion dollar contract on gas deliveries to China, many analysts wondered, in what currency the calculations would be carried out. Some experts believe that the two countries can do without the dollar, directly exchanging yuans for rubles. Meanwhile, the Russian VTB Bank signed a contract with the Bank of China, including an agreement on payments in national currencies.
"Once I make more money, that is when I’ll save" – the phrase each of us has said at least once. Still financial advisors recommend to start saving already today, which now has become easier as Russia embraced the new concept of personal financial planning or mass affluent market. To find out more on how to take care of your finances today The Voice of Russia talked to Simon Scotting, Co-founder and Managing Director of Shoreline.
The dollar and euro declined against the ruble on Tuesday amid improvements on capital markets abroad and some slackening of the tension over Ukraine.
Frustrated by the IMF and World Bank controversial policy, the BRICS nations go on creating the alternative financial supranational institutions for emerging economies. In recent years the IMF has discredited itself, becoming a completely politicized and "odd" structure, which supports interventionist "super state" ambitions of the EU and the US, stresses Patrick L Young, an expert in global financial markets, referring to the ongoing events in Ukraine.
A British exit from the European Union could wreck London's position as the only financial centre to rival New York and isolate the country's economy, according to research ordered by a lobby group for banks and money managers.
On April 23, 2014, Moscow hosted Russia's first Bitcoin Conference dedicated to the cyber currency. Bitcoin is likely to become the currency of the future, which will help people carry out financial transactions seamlessly without governmental control, deems CEO of Memory Dealers and Bitcoin Angel Investor Roger Ver. Bitcoin is undoubtedly "a global phenomenon" and everybody who uses money should work with it, he said, cited by RT.