September 14, 2012
The good news is that Europe is no longer going the way of Greece. The sad news is that it is threatening to go the way of Japan. After years of hesitation punctuated by panic, Europe has finally accepted the …
August 10, 2012
A new cyber surveillance virus has been found in the Middle East that can spy on banking transactions and steal login information for social networking sites, email and instant messaging, according to a leading computer security firm, Kaspersky Lab. Dubbed …
August 8, 2012
The U.S. Treasury Department and Federal Reserve were blindsided and angered by New York’s banking regulator’s decision to launch an explosive attack on Standard Chartered Plc over $250 billion in alleged money laundering transactions tied to Iran, sources familiar with …
August 7, 2012
New York’s top bank regulator threatened to strip Standard Chartered Plc of its state banking license, saying the British bank was a “rogue institution” that hid $250 billion in transactions tied to Iran, in violation of U.S. law. The New …
August 1, 2012
President Barack Obama announced new U.S. sanctions on Tuesday against foreign banks that help Iran sell its oil and said the measure would increase pressure on Tehran for failing to meet its international nuclear obligations. Obama’s decision, in an executive …
August 1, 2012
Leading European banks reported dismal profits on Tuesday, blaming everything from the continent’s debt crisis and Spain’s property market crash to Facebook’s disastrous stock market debut. Within a space of an hour UBS of Switzerland, Deutsche Bank, BBVA of Spain …
July 31, 2012
After 39 years of gathering, collating and disseminating the facts and figures relevant to the global insurance industry the world’s leaders and shakers are finally paying attention to the findings and recommendations of the Geneva Association. “There’s now a growing …
July 26, 2012
European Central Bank President Mario Draghi pledged on Thursday to do whatever was necessary to protect the euro zone from collapse, sending a strong signal that inflated Spanish and Italian borrowing costs were in his sights. Fears about the euro …
July 18, 2012
A bulletin from the insurance think tank The Geneva Association notes that “leaders of the insurance industry have significant concerns about the effects of inappropriate regulation and the effects of the current economic crisis,” according to a survey it conducted. …
July 10, 2012
Signs are growing that Europe’s economic and monetary union may be fragmenting faster than policymakers can repair it. Euro zone leaders agreed in principle on June 29 to establish a joint banking supervisor for the 17-nation single currency area, based …