Finance

EU agrees 1.8bn-euro loan to cash-strapped Ukraine

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BBC – The EU has agreed a €1.8bn (£1.3bn; $2bn) loan to Ukraine – described as a landmark deal for a non-EU member. The agreement was signed at an EU summit in Riga, Latvia, between the leaders of the 28-member bloc and six post-Soviet nations. The loan aims to help cash-strapped Ukraine implement economic reforms, as fighting with pro-Russian rebels in ... Read More »

‘If You Aint Cheating, You Aint Trying': The Brazen Greed of the Currency-Manipulating Bankers

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A settlement between five big financial companies and the federal government shows traders blithely and openly discussing their misdeeds. The Atlantic DAVID A. GRAHAM Were they greedy, or were they just foolish? It’s one of the big questions from the 2008 economic crisis that remains open to debate. Did the world’s banking system nearly collapse because financiers were grabbing money ... Read More »

Record fines for currency market fix

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BBC - Five of the world’s largest banks are to pay fines totalling $5.7bn (£3.6bn) for manipulating the foreign exchange market, US officials say. Four of the banks – JPMorgan, Citigroup, Barclays, RBS – have agreed to plead guilty to US criminal charges. The fifth, UBS, will plead guilty to rigging benchmark interest rates. Barclays was fined the most, $2.4bn, as ... Read More »

American companies ask Canberra: Why are you picking on us?

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Big American companies have a blunt message for the Abbott government: stop picking on us because we create thousands of jobs for you. Financial Review - by Joanna Mather Taking the unusual step of speaking out against government policy, the American Chamber of Commerce in Australia saidnew tax laws targeting foreign multinationals could deter investment. With Australia already considered to be a high-cost ... Read More »

Bernie Sanders Has a Plan: Tax Wall Street and Make College Free

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Vermont Senator Bernie Sanders keeps bending the rules of Senate service and presidential campaigning by offering up proposals that imagine America as the fair, functional, and prosperous country it could be. Instead of playing politics within the narrow lines prescribed by the partisans and pundits who police the political process in America, the recently announced contender for the Democratic presidential ... Read More »

Turkish unemployment rising for 26 consecutive months: TOBB

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In its latest report on employment trends, the Union of Chambers and Commodity Exchanges of Turkey’s (TOBB) ETÜ Social Policies Research Center (SPM) has addressed the 26 consecutive months of rising unemployment in the country. Hurriyet – Erdinç Çelikkan – ANKARA The center forecasted the unemployment rate to remain at above 11 percent in February 2015, for which the official data ... Read More »

Gold prices edge higher after US jobs data

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GOLD edged higher on Friday, snapping two days of losses, as revisions to US payrolls data supported speculation that the Federal Reserve may hold off raising interest rates in the immediate future. AAP – Mercury  US job growth rebounded last month and the unemployment rate dropped to a near seven-year low of 5.4 per cent, potentially keeping the Federal Reserve ... Read More »

China becomes world’s top crude buyer despite economic slowdown

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China overtook the United States as the world’s top importer of crude oil for the first time in April, and its purchases are expected to remain strong despite a slowing economy, with far-reaching consequences for global oil and commodities markets. Daily Sabah – Reuters The soaring imports came as a surprise as growth in the world’s second-largest economy was sputtering ... Read More »