Gold prices saw a substantial drop on April 15, edging sharpest in some three decades. That raised the investors’ fears that their ‘safe haven’ is shattered. Will gold price increase?
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Will Gold Price Increase, or ‘the Safe Haven’ Is Shattered?
April 15, 2013 Leave a Comment
Savings News Remains Glum for Brits
March 25, 2013 1 Comment
Being a saver in UK is currently not a very good place to be as the savings news from the region remains negative. From the new developments that have taken place this week it looks that the gloomy condition for the savers is going to continue for quite some time to come. The first hit taken by them was by the fact that the National Savings and Investments (NS&I) provider stated that they would not be able to issue any certificates in 2013-2014. These certificates are lifeline for savers as they provide an interest which generally exceeds the inflation by 0.5 percent.
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Dutch Group ING Plans to Cut 2,400 Jobs More
February 17, 2013 Leave a Comment
Dutch group ING has announced further job cuts in its retail banking arm as it works to keep its banking and insurance operations apart in accordance with the terms of a bailout deal with government.
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Rate-Rigging Case Drives R.B.S. Stock Down
February 7, 2013 3 Comments
As PPI scandals spin up involving all the major player of the banking industry, Royal Bank of Scotland sees its stock drop because of potential guilty plea. Federal authorities are currently pursuing a guilty plea against bank’s Asian subsidiary, around which an interest rate manipulation scandal arose. In its charge Justice Department is using templates developed in last year’s UBS rate manipulation case. The Justice Department’s criminal division seeks criminal action against Royal Bank of Scotland, in addition to penalties and fines, sources say.
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Italian Market Regulator Defends Itself over Monte Paschi Crisis
February 1, 2013 Leave a Comment
Italian market regulator Consob has defended itself as regards the crisis in which the third-largest bank in the European country Banca Monte dei Paschi di Siena SpA is currently embroiled, according to a report by Reuters. Investigations are going on into allegations of malpractices at the bank.
Monte Paschi, the oldest bank in the world, was alleged to have covered up losses through accounting malpractices. A number of structured finance and derivative deals has amassed losses of around €720 million.
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