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Shenzen to be first Chinese city to begin carbon trading

Tue, 18 Jun 2013 17:12:35 -0400

BEIJING - China, the world's biggest carbon emitter, is set to launch Tuesday its first carbon trading scheme as a pilot project in the southern city of Shenzhen as part of efforts to cut emissions in its key cities. Carbon emissions trading schemes are meant to encourage companies to reduce their carbon dioxide emissions by setting a limit or a cap, on the level of emission that can be ...

UK inflation rises to 2.7pc in May pushed by higher transport cost

Tue, 18 Jun 2013 17:12:21 -0400

LONDON - The consumer price index (CPI) inflation increased to 2.7% in May, up from 2.4% in April, mainly due to higher fuel costs pushing up transportation costs particularly airfares, the Office for National Statistics (ONS) said Tuesday. The ONS said the rise was due to a record increase in airfares and higher fuel prices. "The inflation rate has returned to the levels seen between ...

NSA surveillance revealed abandoned al-Qaedas NY stock exchange bombing plot

Wed, 19 Jun 2013 04:10:02 -0400

The US-led surveillance programme which has created a lot of furor for snooping on citizens' web activities and phone records has revealed information about al-Qaeda's plot to bomb the New York Stock Exchange(NYSE) in 2008. FBI Assistant Director Sean Joyce said that the agency found out through the electronic surveillance that al-Qaeda was actually in the initial stage of bombing the NYSE which ...

Cisco set to open new centre in Israel

Wed, 19 Jun 2013 02:50:01 -0400

The US technology giant Cisco plans to open a new research and development center in Israel, the company's CEO John Chambers said during his meeting with Israel's Minister of Finance Yair Lapid. The new centre is expected to offer 100 jobs, to be added to about 2,000 employees already work at Cisco center in Israel, reported Xinhua. Chambers Tuesday said the new project, whose main focus is ...

Chidambaram for mobilsation of resources from insurance and pension sector for IDFs

Tue, 18 Jun 2013 10:40:01 -0400

Finance Minister P. Chidambaram on Tuesday said that for Infrastructure Debt Funds (IDFs), we should try to mobilise resources from insurance and pension sectors as these funds are available for long term horizon. Chidambaram, who was speaking after launching the maiden IDF scheme of IIFCL Mutual Fund (IDF) here today, later handed over In-Principle sanction approval letters issued by IIFCL ...

German banks signal support for euro deposit guarantee scheme

Wed, 19 Jun 2013 07:51:58 -0400

FRANKFURT (Reuters) - German banking association BDB signalled it may drop its opposition to a pan-European deposit guarantee scheme, a radical step under which German lenders would absorb some of the losses of failed banks in other European states.Until now, Germany's banks have been opposed to any plans for funding bank rescues from outside of Europe's largest economy, slowing ...

TD Canada Trust changes residential mortgage rates

Wed, 19 Jun 2013 07:33:57 -0400

*Interest calculated semi-annually, not in advance. This rate is a discount off of posted rate. Offer may be changed, withdrawn or extended at any time, without notice. Not available in combination with any other rate discounts, offers or promotions. About ...

HealthLease Properties REIT agrees to acquire fourth development property from Mainstreet Property Group Development pipeline coming to fruition

Wed, 19 Jun 2013 07:33:57 -0400

June 19, 2013 /CNW/ - HealthLease Properties Real Estate Investment Trust (HLP.UN) ("HealthLease" or "the REIT") has agreed to acquire a newly-built, fully leased 100-unit seniors housing and care facility from Mainstreet Property Group, LLC ("Mainstreet"), the asset and property manager for the REIT. The facility is leased on a triple-net basis to Life Care ...

Tying the knot Buying a home Starting a family

Wed, 19 Jun 2013 07:33:56 -0400

Tying the knot? It doesn't sound romantic, but when you get married, you're also marrying your finances, taking on assets and in some cases, debt. To avoid problems down the line, we suggest you have the "financial talk" with your significant other to learn about their savings and investing style. If one of you is more willing to take risks vs. being more cautious, ...

Europe Markets European stocks rise with Fed update in sight

Wed, 19 Jun 2013 07:23:45 -0400

LONDON (MarketWatch) -- European stock markets moved cautiously higher on Wednesday, with what is likely to be a volatile day ahead as investors waited for the much-anticipated monetary-policy decision from the U.S. Federal ...

Top Small-Cap Funds That Buy and Hold

Wed, 19 Jun 2013 07:21:40 -0400

A buy-and-hold strategy can be a good thing for fund investors. It usually means lower turnover than you'll find in a fund that does a lot of trading, which can mean lower fund-trading costs as well as lower capital gains and, thus, lower tax costs to eat away at your net returns. A fund's low turnover rate may also indicate a manager who is more selective when it comes to stock-picking ...

Threats to Gentex Not as Close as They Appear

Wed, 19 Jun 2013 07:21:39 -0400

Costs and regulatory issues keep mirrors safe from replacement by cameras in the medium term, but Gentex should try to acquire camera maker Mobileye for its growth potential in active safety and to put Gentex's cash hoard to ...

WisdomTree Emerging Markets--Rebalance Results in More Russia

Wed, 19 Jun 2013 07:21:39 -0400

WisdomTree Emerging Markets Equity Income , which will be implemented following the close of trading on Friday, June 21. DEM's dividend-weighting strategy has resulted in an annualized 450-basis-point outperformance relative to the cap-weighted MSCI Emerging Markets Index over the past five years to May 2013. Part of this performance was due to DEM's quality tilt, as demonstrated by its ...

China Drags Tokyo Adds Fed in Focus

Wed, 19 Jun 2013 07:21:38 -0400

Equities across the globe have taken a huge hit since last month when Fed chairman Ben Bernanke hinted at the possibility of phasing out stimulus measures in coming months if the U.S. economy continued to show signs of ...

Circular economy investment up

Wed, 19 Jun 2013 07:07:24 -0400

Workers lay solar panels on a roof at Nanjing South Railway Station. China is giving attention to reducing energy consumption in industrial production. Dong Jinlin / for China DailyThe Chinese government will double its investment in the circular economy this year to 2 billion yuan ($300 million) to support the national policies of energy conservation and emission reduction, a senior official ...

China to continue improvement of investment environment official

Wed, 19 Jun 2013 07:07:22 -0400

China will continue to facilitate foreign investment and enhance the protection of intellectual property rights in efforts to improve the investment environment, a senior official said Wednesday. "Improving investment environment and protecting the legal rights of foreign investors are not only the government's promises but also what the government is doing," Yu Jianhua, assistant ...

Chinas investment does not match status as Australias top trade partner

Wed, 19 Jun 2013 07:07:20 -0400

China's investment in Australia does not match her status as the nation's largest trade partner, said Duan Jielong, China's Consul-General in Sydney on Tuesday. In a speech to Australia China Business Council (ACBC), Duan said as more and more Chinese companies come to Australia to invest, there seems to be some concerns about Chinese investment being too much and growing too fast. ...

Small firms set for relief from finance crunch

Wed, 19 Jun 2013 07:07:12 -0400

Small enterprises that have been facing capital shortages might get relief soon, if State-owned banks ease lending policies for such businesses, Hu Xiaoming, vice-president at Alibaba Group, said. Hu made the remarks on Wednesday in Beijing as Alibaba (China) Co Ltd and the National School of Development at Peking University jointly issued a report on small firms' management and financial ...

Cameron welcomes banking report promises fast response

Wed, 19 Jun 2013 06:55:02 -0400

LONDON, June 19 | Wed Jun 19, 2013 6:55am EDT LONDON, June 19 (Reuters) - British Prime Minister David Cameron welcomed a report on banking standards by a panel of lawmakers on Wednesday and promised to consider its findings "very swiftly", his spokesman said. "This is an impressive piece of work," the spokesman told reporters after the publication of the report by the ...

20 of second-time homebuyers ask parents for financial help

Wed, 19 Jun 2013 06:43:02 -0400

Many homeowners have been asking their parents for financial assistance when it comes to moving to another property, as they are unable to afford their second house or flat by themselves. According to recent research rom Lloyds TSB, 18% of second-steppers consider requesting support from their family to move up the property ladder. This is because the difference in price between first homes and ...

Dept of Finance sets out stall on Budget 2014

Wed, 19 Jun 2013 06:42:19 -0400

The Department of Finance is sending the first document setting out the parameters of Budget 2014 to other Government departments today, Minister for Finance Michael Noonan has said. He said this would be the first step in discussions with Cabinet colleagues about the Budget. However, he would not be drawn on suggestions by Minister for Social Protection Joan Burton that Family Income ...

Foreign direct investment in Arab world surges by 10 to $47.1b in 2012

Wed, 19 Jun 2013 06:31:29 -0400

The UAE ranked second and its inflow rose 25 per cent to $9.6 billion Foreign direct investment, or FDI, into Arab world rose by nearly 10 per cent in 2012 led by Saudi Arabia and the UAE, according to a latest report.Last year, Arab countries attracted FDI worth $47.1 billion despite political uncertainty in some of them compared to $42.9 billion in the previous year, the Arab Investment and ...

London Markets Oil firms banks bruise FTSE 100

Wed, 19 Jun 2013 06:18:49 -0400

LONDON (MarketWatch) -- Banks dropped in London on Wednesday after a commission called for sanctions for bad bankers, while oil firms on the decline put further pressure on the U.K. ...

7 candidates to succeed Bernanke at Fed

Wed, 19 Jun 2013 06:18:49 -0400

President Obama gave the clearest indication yet that Fed Chairman Ben Bernanke won't serve again after his term ends in January. In an interview this ...

U.K. wants jail terms for reckless bankers

Wed, 19 Jun 2013 06:18:45 -0400

LONDON -- A British parliamentary commission Wednesday called for the creation of criminal sanctions for incompetent bankers, one of the conclusions of a broad review of the culture of U.K. banking that likely will influence how the industry is overseen in the coming ...

Investment crucial for growth

Wed, 19 Jun 2013 06:18:20 -0400

In developed economies, the economic situation is characterized by a combination of exceptionally low real and nominal interest rates and a persistently sluggish economy which, in the case of the euro area, has led to a double-dip recession. In the Dossier of this Monthly Report we examine the many different reasons for such low interest rates, particularly the ultra-lax monetary policies of the ...

IMF sees Spain banks non performing loans increasing further

Wed, 19 Jun 2013 06:16:03 -0400

MADRID, June 19 | Wed Jun 19, 2013 6:16am EDT MADRID, June 19 (Reuters) - Non performing loans at Spanish banks are set to increase further in the coming months as a difficult economic outlook weighs on the capacity of households and companies to repay debts, the International Monetary Fund said on Wednesday. "NPLs typically are lagging indicators. I wouldn't be surprised if they ...

UK banking commission urges better standards

Wed, 19 Jun 2013 05:34:29 -0400

LONDON -- British bankers could soon be facing harsher penalties for behaving badly.After a year which has seen major scandals involving rate-rigging, money-laundering and rogue-trading rock the UK's financial industry, an influential parliamentary committee recommended Wednesday that senior bankers should be held more accountable for their bank's actions. One measure, it said, should ...

Finance Ministry’s purchase of currency not to affect rouble rate

Wed, 19 Jun 2013 05:32:32 -0400

MOSCOW, June 19 (Itar-Tass) - Russian Finance Ministry’s purchase of currency on the market will not affect the rouble exchange rate, the head of the Central Bank of Russia, Sergei Ignatyev, told a State Duma meeting on Wednesday. "We prepared new rules for currency interventions. To supplement the Reserve Fund, the Finance Ministry will buy currency at the Central Bank, while the ...

Quebecs economic performance poised to improve modestly in 2013 RBC Economics

Wed, 19 Jun 2013 05:22:35 -0400

June 19, 2013 /CNW/ - Stronger performance in the provincial external trade sector and an increase in consumer spending will drive Quebec's economic growth modestly higher in 2013, according to the ...

Albertas economy expects strong growth in 2013 RBC Economics

Wed, 19 Jun 2013 05:22:34 -0400

June 19, 2013 /CNW/ - Alberta's economy is positioned to grow at the top-end of Canada's provincial economic growth rankings in 2013; however, it is one of only two provinces, alongside B.C., that will see a slight deceleration of its pace compared to 2012, according to the ...

SunGard eyes $2 billion sales of data unit

Wed, 19 Jun 2013 05:13:16 -0400

SunGard Data Systems Inc. is exploring a sale of its data managing operations that could fetch up to $2 billion, the Reuters news agency said Tuesday on its website, citing several unnamed people familiar with the ...

CIT buys 30 Boeing 737 Max jets worth $3 billion

Wed, 19 Jun 2013 04:09:19 -0400

LE BOURGET, France--Lessor CIT Group, Inc. has ordered 30 Boeing Co. 737 Max 8 jetliners, growing its rapidly expanding portfolio of new ...

Icahn raises Dell stake calls for share buyback

Wed, 19 Jun 2013 04:09:19 -0400

Carl Icahn stepped up his bid to take control of Dell Inc., disclosing he has nearly doubled his stake in the ailing PC maker while also calling for the company to launch a $14-a-share tender offer for 1.1 billion ...

BC Partners to buy Springer Science for EUR3.3B

Wed, 19 Jun 2013 04:09:19 -0400

The owners of German academic publisher Springer Science + Business Media will sell the company to BC Partners for EUR3.3 billion ($4.41 billion), EQT said Wednesday, reversing plans to conduct an initial public ...

European Markets Volatile in Early Trade

Wed, 19 Jun 2013 04:07:25 -0400

European markets swung in both directions in early trade Wednesday ahead of U.S. Federal Reserve Chairman Ben Bernanke's speech and an interest rate decision due later in the day after the close of regular European trading ...

Asian Markets Mostly Lower Tokyo Sydney Climb

Wed, 19 Jun 2013 04:07:24 -0400

Exporters in Tokyo gained ground on account of a softer currency, which boosts their earnings outlook from overseas markets when repatriated into local currency. Nintendo Co. jumped 4.4%, Toshiba Corp. improved 2.4% and Honda Motor accelerated 1.7%. Soft Bank Corp. advanced 3.4% after U.S. rival Dish Network said it would not make a new offer to buy wireless provider Sprint. But Sharp Corp. ...

Banking commission Bankers should be jailed for reckless misconduct

Wed, 19 Jun 2013 03:22:04 -0400

Wanda announces $1.6b UK investment

Wed, 19 Jun 2013 03:16:58 -0400

/enpproperty--> Dalian Wanda Group Corp Ltd, one of China's largest property developers, announced Wednesday in Beijing that it will launch a 1-billion ($1.6-billion) investment for the overall control of UK luxury yacht manufacturer Sunseeker and construction of a five-star hotel in London's core area, according to sohu.com. Wanda will spend 300 million ($469 million) to buy 91.8 ...

Treasury told send reckless bankers to jail

Wed, 19 Jun 2013 03:04:29 -0400

Back to banking union

Wed, 19 Jun 2013 03:01:12 -0400

The G8 produced little heat or light on the state of the world economy but if there was one clarion call it was for the euro zone to get on with forming a banking union the last major initiative needed to draw a line under the euro zone debt crisis. With the European Central Bank effectively underwriting the blocs governments with its bond-buying pledge, a cross-border mechanism to recapitalise ...

Back to banking union

Wed, 19 Jun 2013 03:01:12 -0400

Back to banking union

Wed, 19 Jun 2013 03:01:12 -0400

Back to banking union

Wed, 19 Jun 2013 03:01:12 -0400

Nikkei climbs to 1-week high on SoftBank investment trust

Wed, 19 Jun 2013 02:49:05 -0400

* Nikkei rises 1.8 pct, Topix up 1.9 pct * Japan stocks fwd P/E falls to level not seen since BOJ action * SoftBank gains after Dish says abandons Sprint bid * TEPCO sinks, says finds highly toxic strontium in Fukushima groundwater By Dominic Lau TOKYO, June 19 (Reuters) - Japan's Nikkei average hit a one-week high on Wednesday, with traders citing the launch of a near $780 million investment ...

Aspen secures $76m for investment portfolio

Wed, 19 Jun 2013 02:29:04 -0400

Property developer and fund manager Aspen Group has sold the remaining six assets in its Aspen Diversified Property Fund for $76.5 million. The company said it would receive $74.32 million in cash for the properties, and $2.175 million worth of a new class of preference units in buyer Denison Diversified Property ...

US Treasury Secretary Upgrades Signature

Wed, 19 Jun 2013 02:07:59 -0400

US Treasury Secretary Jacob Lew has upgraded his famously squiggly signature. Mr Lew's new John Hancock - which will be stamped on all newly printed paper bills - was unveiled by the Treasury Department on Tuesday. It is a marked improvement from the loopy scribble made public a few months ago when he took the post in President Barack Obama's ...

Bosses of collapsed banks should be sent to jail banking standards commission tells George Osborne

Wed, 19 Jun 2013 02:06:42 -0400

Britain's banking bosses should face jail if their decisions force fresh bailouts, the Parliamentary Commission on Banking Standards says ...

Connecticut Man Admits Running Investment Fraud Scheme www.privateofficer.com

Wed, 19 Jun 2013 01:04:18 -0400

Deirdre M. Daly, Acting United States Attorney for the District of Connecticut, and Kimberly K. Mertz, Special Agent in Charge of the New Haven Division of the Federal Bureau of Investigation, announced that Jonathan Gracia, 24, formerly of Middletown, waived his right to indictment and pleaded guilty today before United States Magistrate Judge Thomas P. Smith in Hartford to one count of wire ...

J.J. Zhangs Winner Take All The downsides to indexed investing

Wed, 19 Jun 2013 00:57:27 -0400

However, there is a basic economic rule: there is no such thing as a free lunch. With so many people and places all advocating passive indexing, it's important to look at the contrarian side. Stepping into the other side of the argument, just what are the downsides to ...

Rwanda New PSF Boss to Promote Joint Investment Ventures

Wed, 19 Jun 2013 00:51:15 -0400

PROMOTING INVESTMENT, co-operation and job-creation are the main areas the newly-elected Private Sector Federation (PSF) chairman, Benjamin Gasamagera will focus on. Gasamagera said he will lobby government for better policies to encourage private investment into the country. He was speaking after he was elected on Monday in a poll where he garnered 98 votes out of 102 votes at Lemigo Hotel in ...

How a fast-talking finance manager almost bamboozled me into spending more on my new car

Wed, 19 Jun 2013 00:19:52 -0400

I'm not a chump. I chase people off my doorstep who try to sign me up for energy savings, I turn down water heater upgrades on a monthly basis and have never bought duct cleaning services from someone calling from a basement 15,000 kilometres away from my furnace.But there I sat in the dealership hours after buying a new little car, being bamboozled and outplayed by a finance manager at the ...

Central banks’ decisions and important Chinese data highlight the Asian session this week

Wed, 19 Jun 2013 00:13:41 -0400

Asian markets are waiting for many critical economic data to be released this week, like rate decision for BOJ and RBNZ, as well as China’s trade ...

KC terrorist supported plan to bomb New York Stock Exchange FBI tells Congress

Wed, 19 Jun 2013 00:12:02 -0400

Everyone knows someone who is habitually late. It’s a maddening trait to the unafflicted who see the problem as remarkably easy to fix: Start earlier. That’s how the Royals’ two new hitting coaches, George Brett and Pedro Grifol, diagnosed Eric Hosmer’s ...

Asia Markets China stocks fall Japan jumps ahead of Fed meet

Tue, 18 Jun 2013 23:52:58 -0400

HONG KONG (MarketWatch) -- Chinese and South Korean stocks fell Wednesday on caution ahead of the Federal Reserve's monetary-policy decision later in the day, while Japanese shares rallied on a weakened yen and strong overnight gains on Wall ...

Goleta Sues Department of Finance Over Funds for San Jose Creek Project

Tue, 18 Jun 2013 21:58:51 -0400

The City of Goleta filed a lawsuit late yesterday against the California Department of Finance (DOF) regarding the money earmarked to complete the public safety improvements to the San Jose ...

Alipays spare money business stirs online investment

Tue, 18 Jun 2013 21:58:06 -0400

E-commerce giant Alibaba Group, which runs Taobao.com, has established a new business offering customers higher investment yields than interest from banks.Five years ago, group board chairman Ma Yun said if Chinese banks do not change then they will be forced to change. The venture could be the beginning of that process.Alipay, China's leading third-party online payment platform and a ...

Etihad Government of Serbia sign initial MOU to explore JatAirways investment

Tue, 18 Jun 2013 21:56:16 -0400

Etihad Airways, the national airline of the United Arab Emirates, will advance discussions with JatAirways about an equity investment in the Serbian national carrier. An Initial Memorandum of Understanding (IMU) between Etihad Airways and the Government of Serbia was signed in Belgrade today, Monday June 17. Details of the development were unveiled by James Hogan, President and Chief ...

TSX Venture Exchange Daily Bulletins

Tue, 18 Jun 2013 21:48:44 -0400

TSX Venture Exchange has accepted for filing documentation with respect to a Non-Brokered Private Placement announced April 11, ...

Shadow banking threatens credit crisis Fitch

Tue, 18 Jun 2013 20:48:04 -0400

/enpproperty--> Fitch Ratings warned on Tuesday that the growing shadow banking sector in China, if not dealt with properly, could puncture the country's credit bubble and spark a financial crisis. In a speech in Hong Kong, Charlene Chu, senior director of financial institutions at the global ratings agency, said that at the end of 2012 Chinese lenders were involved, directly or ...

N560m Confirmed Missing From Kaduna SURE-P Funds Assembly Declares Vote Of No Confidence On Former Finance Commissioner Ayuba

Tue, 18 Jun 2013 20:43:46 -0400

By SaharaReporters, New York A report of an Ad-hoc committee of the Kaduna State House of Assembly’s released today has confirmed last week’s report by SaharaReports of the looting of the Subsidy Reinvestment and Empowerment Programme (SURE-P) funds, saying that about N560 million is "missing" in the implementation of the programme at the state level. Our report, on June ...

IIROC Trading Halt - TOS

Tue, 18 Jun 2013 20:42:57 -0400

Canada (IIROC) can make a decision to impose a temporary suspension of trading in a security of a publicly listed company, usually in anticipation of a material news announcement by the company. Trading halts are issued based on the principle that all investors should have the same timely access to important company information. IIROC is the national self-regulatory organization which ...

Video FBI official NSA programs helped reveal subway stock exchange bombings

Tue, 18 Jun 2013 20:29:24 -0400

Sean Joyce, the Deputy Director of the FBI, unveiled four terrorist plots he says were prevented in large part due to information collected by the National Security Agency's controversial, top-secret data gathering programs, including planned bombings of both the New York City subway system and the New York Stock ...

Stocks post solid gains Tuesday

Tue, 18 Jun 2013 20:23:16 -0400

U.S. markets churned higher Tuesday after the Commerce Department said price inflation remained muted in May. The report by itself had negligible effect. But every report of late has been held up to the light to see how it might affect the U.S. Federal Reserve's monetary policy announcement expected Wednesday. Low inflation means the economy is not overheating. In turn, some investors have ...

Special Report Energy Utilities Switch Off Investment in Fossil Fuel Plants

Tue, 18 Jun 2013 19:59:29 -0400

LONDON ...

Sanya launches investment promotion at Yangtze River Delta Region

Tue, 18 Jun 2013 19:56:58 -0400

Sanya has been attaching great importance to the sustainable development in recent years. Apart from tourism industry plays a leading role in the economic development, the city is seeking to ...

British banking needs radical overhaul study

Tue, 18 Jun 2013 19:55:13 -0400

LONDON (AFP) - Britain needs a "radical" overhaul of its scandal-hit banks, with reckless bankers facing jail and bonuses deferred for up to ten years, a government commission set up after the Libor scandal proposed in a final report on Wednesday.The Parliamentary Commission on Banking Standards, which is mostly composed of lawmakers, concluded that senior bankers must be made ...

Jamaica eyes expatriates as source of investment

Tue, 18 Jun 2013 19:52:27 -0400

KINGSTON, Jamaica -; In a bid to kick start Jamaica's chronically stagnant economy, the Caribbean country is wooing its citizens living abroad to invest in the island of their ...

Jail threat for reckless bankers among proposals to clean up banking system

Tue, 18 Jun 2013 19:45:02 -0400

George Osborne is facing pressure to radically overhaul Britain's banks by introducing a new law to jail bankers for "reckless misconduct" and force bankers to wait up to 10 years to receive their bonuses.The proposals, among the key measures recommended in a major report by the parliamentary commission on banking standards, also include a call on him to consider breaking up the ...

RBS split raised amid banks rethink

Tue, 18 Jun 2013 19:41:10 -0400

Royal Bank of Scotland (RBS) into a "good" bank and a "bad" bank must be looked at immediately as part of an urgent rethink of Government plans for privatisation, according to an influential Parliamentary ...

James Moore Why George Osborne must beware of the banking backlash

Tue, 18 Jun 2013 19:36:41 -0400

Outlook The blue touch paper has been lit and it might pay for George Osborne to consider a flak jacket when he delivers his Mansion House ...

UKs Osborne to unveil future of state-controlled banks

Tue, 18 Jun 2013 19:30:03 -0400

Britain's Chancellor of the Exchequer George Osborne speaks at the Confederation of British Industry (CBI) annual dinner in London May 15, ...

Afren plc - Afren plc applies to the Ontario Securities Commission to cease being a reporting issuer in Canada

Tue, 18 Jun 2013 18:34:05 -0400

June 18, 2013 /CNW/ - Afren plc ("Afren" or the "Company") announced today that it has applied for a decision from the securities regulatory authority in Ontario, the Ontario Securities Commission, as principal regulator, that it is no longer a reporting issuer in Ontario, Alberta, British Columbia and Saskatchewan. Afren is not a reporting issuer in any other Canadian ...

Stocks Higher With Fed Meeting in Focus

Tue, 18 Jun 2013 18:23:05 -0400

Stocks were higher at midday as the Federal Open Market Committee began its two-day policy meeting today, with a key topic of discussion being the future of its bond-buying program. Investors are hopeful that Fed officials will offer more clarity on the longevity of the program as well as notice that the program will continue for the foreseeable ...

Cape Wind gets $200M investment from Danish fund

Tue, 18 Jun 2013 18:22:28 -0400

BOSTON -- The Cape Wind offshore wind project has secured a $200 million investment from a Danish pension fund in what its president says is a milestone for the proposed 130-turbine project.The $2.6 billion Cape Wind project aims to be the nation's first offshore wind farm. But Cape Wind, proposed in 2001, has been delayed by lengthy review and entrenched opponents and has been looking for ...

Tuatara brewery sells stake to investment company

Tue, 18 Jun 2013 17:31:09 -0400

Source: Photos.com Craft brewery Tuatara has sold 35% the business to a New Zealand investment company. The details of the deal with Wellington-based Rangatira Limited have been released this morning. Tuatara currently produces over a million litres of beer each year and exports to Australia, Singapore, China, the United States and Europe. The company says the transaction will strengthen its ...

Enforcement Notice - IN THE MATTER OF Scotia Capital Inc. - Settlement Accepted

Tue, 18 Jun 2013 17:28:51 -0400

November 2011 it failed to have adequate policies and procedures in place or failed to implement those policies and procedures to prevent and detect potential wash trades; ...

Westshore Terminals announces the Annual General Meeting results

Tue, 18 Jun 2013 17:28:50 -0400

June 18, 2013 /CNW/ - Westshore Terminals Investment Corporation (TSX: WTE) (the "Corporation") announced that at the Corporation's Annual General Meeting, held earlier today, shareholders approved Management's Advanced Notice Policy, all as set out in the Corporation's Information Circular dated May15, ...

MFDA Hearing Panel accepts Settlement Agreement with Kimberly Haylock

Tue, 18 Jun 2013 17:28:49 -0400

Toronto Ontario before a three-person Hearing Panel of the MFDA's Central Regional Council. The Hearing Panel accepted the Settlement Agreement between MFDA Staff and the Respondent, as a consequence of which the Respondent shall pay a fine ...

IIROC Trading Resumption - CPA

Tue, 18 Jun 2013 17:28:48 -0400

June 18, 2013 /CNW/ - Trading resumes in: Company: CHINAPINTZA MINING CORP. (Formerly Black Birch Capital Acquisition II Corp.) TSX-Venture Symbol: CPA (Formerly BBT.P) Resumption: At the open ...

Treasury secretarys loopy signature is now less loopy

Tue, 18 Jun 2013 17:16:09 -0400

signature as President Obama's chief of staff , Treasury Secretary Jack Lew's barely legible signature will appear on dollar bills this fall. The squiggly cursive representing his name while in the White House and Office of Management and Budget won't be on the United States paper currency. Rather, Lew used connected short lines to represent each letter, incorporating his middle ...

U.N. sees huge need for helping Syrian refugees in Lebanon

Tue, 18 Jun 2013 17:10:04 -0400

A United Nations official says more needs to be done to support the estimated 1 million Syrian refugees who will have fled to Lebanon by year's end. The worsening violence in Syria has prompted an estimated 1.5 million people to flee to neighboring Lebanon, Jordan and Turkey with refugee camps already filled beyond capacity in the countries. U.N. High Commissioner for ...

Treasury debuts new Lew signature

Tue, 18 Jun 2013 16:36:46 -0400

Treasury Secretary Jack Lew has a new signature, at least for appearing on U.S. currency.The Treasury Department unveiled Lew’s new autograph Tuesday afternoon ...

AU calls for investment to create jobs

Tue, 18 Jun 2013 16:30:16 -0400

Accra, June 18, GNA - The Chairperson of the African Union Commission, Dr. Nkosazana Dlamini Zuma, has called for more investment to create jobs, achieve inclusive growth and eradicate poverty on the ...

NSA-Style Intelligence Comes To Financial Services Communications

Tue, 18 Jun 2013 16:29:58 -0400

OP3Nvoice , announced at SIFMA today. Digital Reasoning, with roots in defense and intelligence, can search and understand structured and unstructured data and use it to build a view of underlying entities, facts, relationships and discover geospatial and temporal patterns. OP3Nvoice can monitor audio, video and text conversations across channels including fixed lines, mobile and Skype and ...

Spara Acquisition One Corp Announces Results of Shareholder Meeting

Tue, 18 Jun 2013 16:23:02 -0400

June 18, 2013 /CNW/ - Spara Acquisition One Corp ("SAO") (TSXV: SAO.P) announced that all matters that came before a meeting of SAO shareholders held earlier today were approved, including SAO's subscription for shares and warrants of Digital Shelf Space Corp. ("Digital") and the subsequent dissolution of SAO, the terms of which were previously announced. SAO and ...

Turkish Minister of Finance Simsek said Turkish economy was based on strong roots and foreign investors still …

Tue, 18 Jun 2013 16:06:16 -0400

Turkish Minister of Finance Simsek said Turkish economy was based on strong roots and foreign investors still believed in Turkish success ANKARA - Turkish Minister of Finance Mehmet Simsek said Thursday that the investors still had confidence in Turkey's success despite recent Taksim protests. Simsek evaluated the Taksim incidents speaking on Aljazeera Channel and said Gezi Park projects ...

Officers relax by river banks amid peaceful G8

Tue, 18 Jun 2013 15:28:59 -0400

How many police officers does it take to secure a G8 summit? Not as many as the authorities thought it might, if the scenes around Enniskillen have been anything to go by in the last two days.Thousands of policemen and women drafted into this quiet corner of Northern Ireland in anticipation of trouble that never materialised could be excused for wondering exactly what all the fuss was about. ...

Treasury unveils Lews improved signature

Tue, 18 Jun 2013 15:27:42 -0400

WASHINGTON -- Treasury Secretary Jacob Lew won't win any prizes in penmanship, but his official signature which will go on the nation's currency is at least a slight improvement over the loopy scrawl he had a few months ago.The Treasury Department unveiled the new signature on Tuesday. It takes the Bureau of Engraving and Printing about 18 weeks to put the new engraving plates into ...

Investment Banks Moving To Neutral On Mining Stocks

Tue, 18 Jun 2013 15:23:39 -0400

The negative tides for mining stocks appear to shifting towards the positive, at least for a few investment banks, as JP Morgan Cazenove and Citigroup have changed their views from bearish to ...

Credit card rates will fall in 2 months Banks chief

Tue, 18 Jun 2013 15:22:33 -0400

Santo Domingo.- The Superintendent of Banks on Tuesday said the interest paid by cardholders will be lower in two months, as the mechanism it assumed to "operationalize" their fall will take effect in that period. Rafael Camilo said the Superintendence has been demanding that financial intermediates charge interest on the loans' unpaid balance. After the Monetary Board credit ...

TMX Groups Sharon Pel Wins Canadian General Counsel Award

Tue, 18 Jun 2013 15:15:54 -0400

Sharon Pel Senior Vice President, Group Head of Legal and Business Affairs received the top award in the Deal Making category at the 2013 Canadian General Counsel Awards ...

NSA Disruption of Stock Exchange Bomb Plot Disputed

Tue, 18 Jun 2013 15:09:43 -0400

In today's business world, disruption is a constant force that never lets up. At the annual WIRED Business Conference: Disruptive by Design, we celebrate the creative power of bold new ideas and the people that make them happen. See the event ...

G-8 agrees to proposals to tackle tax evasion

Tue, 18 Jun 2013 15:06:37 -0400

ENNISKILLEN, Northern Ireland (MarketWatch) -- The Group of Eight leading industrialized nations agreed to a set of proposals to tackle tax avoidance and evasion that calls for countries to change laws to stop firms shifting profits across borders and urges greater transparency about the true ownership of ...

Africa African Union Calls for More Investment to Promote Jobs in Africa

Tue, 18 Jun 2013 14:59:25 -0400

GENEVA (ILO News) - The Chairperson of the African Union Commission, Dr. Nkosazana Dlamini Zuma, has called for more investment to promote job creation, achieve inclusive growth and eradicate poverty in a continent which in the next fifty years will be home to 1.1 billion workers - more than a third of the global workforce. "We are determined to step up our efforts to promote job creation, ...

Japan poised to shift huge investment factories from China to India

Tue, 18 Jun 2013 14:28:17 -0400

Indian Prime Minister Manmohan Singh and Japanese Prime Minister Shinzo Abe. But that may be about to change because Japan is poised to leave China for India, adding huge benefits to the South Asian country in terms of jobs creation, technological transfer, transformation of infrastructure and military partnership. "Japan wants to build up India as an alternative, economic and military, to ...

Auditors reject mandatory rotation schedule

Tue, 18 Jun 2013 14:26:12 -0400

A new report on Canada's audit standards has come out against mandatory rules that would require companies to regularly replace their auditors.A steering group that has spent the past 18 months reviewing ways to enhance audit quality in Canada has issued its conclusions about recommended reforms, and has rejected the idea of requiring firms to rotate their auditors. The proposal, which is ...

Business KTDA wins global finance award

Tue, 18 Jun 2013 14:24:41 -0400

KTDA was applying innovative and commercially viable solutions to solve sustainability challenges in Kenya's small-holder tea sub-sector. Significantly, they observed ...

Treasury Secretary Lew Cleans Up His Signature for the Nations Currency

Tue, 18 Jun 2013 14:20:22 -0400

recently charted its evolution: And now we know how it will appear on the $1, $5, $10, $20, $50, and $100 bills. The tradition of Treasury secretaries' signatures appearing on currency dates back to 1914 and takes about 18 weeks to implement, according to Treasury. And on Tuesday afternoon it announced that the following signature will be gracing newly printed ...

Queensway Carleton Hospital and Scotiabank announce $150000 gift

Tue, 18 Jun 2013 14:07:25 -0400

$150,000 gift during an unveiling ceremony for the Scotiabank Physiotherapy/Rehabilitation Gym, newly named in recognition of the bank's five-year commitment to the Hospital Foundation's capital campaign. The ceremony was attended by QCH staff, physicians, patients and Scotiabankers. "We are proud to recognize our community partners at Scotiabank for their continued ...

PowerShares Canada announces cash distributions for TSX-listed ETFs

Tue, 18 Jun 2013 14:07:24 -0400

The tax composition of the PowerShares ETFs' distributions will be determined on an annual basis and will only be available after the PowerShares ETFs' tax year-end. To learn more about TSX-listed PowerShares ETFs, please ...

Excel Latin America Bond Fund Announces Quarterly Distribution of $0.19375 per unit

Tue, 18 Jun 2013 14:07:23 -0400

The Manager and Excel Investment Counsel Inc., the Fund's portfolio manager, are part of the Excel Funds group, a Canadian pioneer in emerging market mutual fund investing, which manages 12 other investment funds focused on the emerging markets, the largest product line-up in the asset class ...

Agellan Commercial Real Estate Investment Trust announces June 2013 monthly distribution

Tue, 18 Jun 2013 14:07:23 -0400

June 18, 2013 /CNW/ - Agellan Commercial Real Estate Investment Trust ("Agellan" or the "REIT") (TSX: ACR.UN) announced today that the Trustees of Agellan have declared a distribution of $0.06458 per unit for the month of June, 2013, ...

Movers Shakers Tuesday movers Loeb’s letter propels Sony higher

Tue, 18 Jun 2013 13:57:27 -0400

SAN FRANCISCO (MarketWatch) -- U.S.-listed shares of Sony Corp. extended gains on Tuesday after hedge-fund manager Dan Loeb of Third Point LLC reiterated his call for the Japanese conglomerate to find ways to unlock ...

Collins Barrow partner presents on use of technology in controls testing

Tue, 18 Jun 2013 13:00:16 -0400

June 18, 2013 /CNW/ - Collins Barrow partner Charan Kumar Bommireddipalli presents on using governance, risk and compliance (GRC) tools to do more with less. At the Infonex Internal Controls conference, taking place ...

Anchor Managed Dividend Growth Fund Declares Quarterly Distributions

Tue, 18 Jun 2013 13:00:15 -0400

June 18, 2013 /CNW/ - The Board of Directors of Scotia Managed Companies Administration Inc. in its capacity as Trustee of Anchor Managed Dividend Growth Fund (the "Fund") has declared cash distributions ...

Media AlertPhoto-Op A record 7000 participants lace up for the Scotiabank Vancouver Half-Marathon 5K

Tue, 18 Jun 2013 13:00:14 -0400

Sunday, June 23 and will raise money for 71 community causes through the Scotiabank Charity Challenge. Honorary Chair of the Scotiabank Charity ...

Charities and nonprofits meet high standards

Tue, 18 Jun 2013 13:00:13 -0400

Canada the national umbrella for Canada's charities and nonprofits, today announces the latest group of 24 organizations to be accredited under its ...

The exclusive accessory thats also an investment

Tue, 18 Jun 2013 12:58:23 -0400

Goldgenie founder Laban Roomes, explains: "The value of gold is constantly increasing, making this purchase a real investment for the future." However, the company, which produces a wide range of equally embellished smartphones and tablets as well as offering a full bespoke customizing service, also accepts that no matter how striking or valuable the handset's exterior design, ...

Bond Report Treasurys wobble Fed meeting in focus

Tue, 18 Jun 2013 12:50:37 -0400

NEW YORK (MarketWatch) -- Treasury prices were mixed Tuesday as the Federal Open Market Committee was due to begin a two-day meeting, which investors hope will clarify the trajectory of monetary ...

London Markets Whitbread HSBC lift FTSE to fourth day of gains

Tue, 18 Jun 2013 12:50:36 -0400

LONDON (MarketWatch) -- Shares of Whitbread PLC climbed in an upbeat U.K. market after it reported encouraging sales figures on Tuesday, while banking giant HSBC Holdings PLC rose after a broker ...

Britains FTSE rises as traders buy beaten-down banks

Tue, 18 Jun 2013 12:40:19 -0400

* Lower house votes against debate* Government warns of pending U.S. indictments* Bern scrambles to limit potential damage if bill rejected* More than a dozen banks under investigation* Bill referred back to upper house for debate, voteBy Katharina BartZURICH, June 18 (Reuters) - Switzerland's lower house ...

Financial Stocks Financial stocks rise ahead of Fed meeting

Tue, 18 Jun 2013 12:04:19 -0400

NEW YORK (MarketWatch) - Financial stocks edged higher Tuesday ahead of the Federal Reserve's policy meeting and Chairman Ben Bernanke's press conference in the following ...

Ddj High Yield Fund Announces Distribution to Unitholders

Tue, 18 Jun 2013 11:53:14 -0400

The Fund's investment objective is to provide investors with a high level of current income distributed quarterly over the life of the Fund. The Fund will also seek capital appreciation through investing in securities with potential for ...

Manulife Investments Announces Quarterly Distribution For

Tue, 18 Jun 2013 11:53:12 -0400

$3.625 per unit as of the payment date. Copernican International Financial Split Corp. (TSX: CIR/CIR.PR.A): A quarterly cash distribution in the amount ...

The Technical Indicator Bullish backdrop vies with June volatility spike

Tue, 18 Jun 2013 11:43:50 -0400

Editor's Note: This is a free edition of The Technical Indicator, a daily MarketWatch subscriber newsletter. To get this column, including 100 technical stock picks every ...

Market Snapshot U.S. stocks jump on Fed-fueled optimism

Tue, 18 Jun 2013 11:43:43 -0400

NEW YORK (MarketWatch) -- U.S. stocks climbed sharply on Tuesday as the market voiced confidence that Federal Reserve Chairman Ben Bernanke would allay worries about the central bank's monetary ...

Swiss banks US tax-evasion deal on hold

Tue, 18 Jun 2013 11:41:12 -0400

Switzerland’s lower house of parliament has stalled progress on a tax-evasion deal with the US government. Washington is chasing wealthy Americans with cash in secret accounts in banks there. The Swiss government wants to pass a law allowing banks to sidestep the country’s strict secrecy rules and disclose some account holders’ details to US prosecutors. Banks will not be ...

Man robs two banks in less than an hour

Tue, 18 Jun 2013 11:39:29 -0400

AUSTIN (KXAN) - A bank robber managed to hit two separate banks in Austin on Tuesday in less than an hour. The robber hit Prosperity Bank at 8770 Research Blvd. in North Austin at 10 a.m. and then the Frost Bank in the 1200 block of Barbara Jordan Boulevard in Central Austin at 10:40 a.m. Police said the robber ran away from both banks, though no one knew in which direction he went each ...

BRIEF-Deloitte settles with NY banking regulator over Standard Chartered

Tue, 18 Jun 2013 11:34:49 -0400

NEW YORK, June 18 | Tue Jun 18, 2013 11:34am EDT NEW YORK, June 18 (Reuters) - DELOITTE SETTLES WITH NEW YORK BANKING REGULATOR OVER ANTI-MONEY LAUNDERING WORK ON STANDARD CHARTERED DELOITTE AGREES TO PAY $10 MLN, REFORM AND ONE-YEAR SUSPENSION FROM CONSULTING WITH NY REGULATED BANKS DELOITTE REFORMS MAY SERVE AS MODEL TO COMBAT CONFLICTS OF INTEREST AMONG THOSE RETAINED AS MONITORS - ...

A-shares grind higher Central Huijin investment elevates bank sector

Tue, 18 Jun 2013 10:54:57 -0400

Stock markets in Shanghai and Shenzhen scored respectable victories Tuesday as military aviation, Internet and real estate shares performed strongly in light trading.The Shanghai Composite Index crept up 3.08 points, or 0.14 percent, to close at 2,159.29; while the Shenzhen Component Index advanced 0.79 percent, or 66.36 points, to end at 8,470.86. Both indices came under pressure throughout the ...

IIROC Trade Resumption - VNP

Tue, 18 Jun 2013 10:46:28 -0400

Scotiabank reaches new agreement to continue as Official Bank of Ottawa Senators

Tue, 18 Jun 2013 10:46:27 -0400

June 18, 2013 /CNW/ - Scotiabank today confirmed that it has reached a new agreement with Senators Sports & Entertainment to continue as the Official Bank of ...

Canso Credit Income Fund announces distribution

Tue, 18 Jun 2013 10:46:27 -0400

June 18, 2013 /CNW/ - Lysander Funds Limited announces that Canso Credit Income Fund (TSX: PBY.UN) will pay a monthly distribution in the amount of $0.04166 per Class A Unit and/or per Class F Unit on or before each ...

Leveson Former TV boss Michael Grade could help break deadlock on press regulation says Financial Times editor Lionel Barber

Tue, 18 Jun 2013 10:42:48 -0400

Financial Times editor Lionel Barber told the Culture Media and Sport Select Committee that Lord Grade's name had been discussed by some editors to help break the deadlock on the issue. The newspaper industry and pressure group Hacked Off are at odds on the future of press regulation. Asked who was going to "take the lead" when it came to ending the disagreement over press ...

Motifs newest way to disrupt you from your money investment advice from brands

Tue, 18 Jun 2013 10:39:01 -0400

Motif Investing launched last year, the online investment broker wanted to give people a straightforward way to invest in big ideas. So it began offering portfolios — called ';motifs'; — that contain up to 30 stocks and ETFs built around themes such as ';Healthy and Tasty'; and ';Obamacare'; for a flat fee of $9.95. Now it wants those same people to get ...

Jefferies net off on drop in fixed income revenue

Tue, 18 Jun 2013 10:37:45 -0400

+0.58% , reported its fiscal second-quarter profit slumped 34% as fixed income revenue took a hit amid what Chief Executive Richard B. Handler called a "tepid and cautious" ...

Newest hotel amenity In-room rice cooker

Tue, 18 Jun 2013 10:37:44 -0400

And with hotels catering to the Chinese palate, there are more culinary options for all guests. Many Ritz-Carlton, InterContinental and Marriott locations have expanded their menus to include congee -- a Chinese rice porridge dish -- and dim sum on menus, and a range of green and flavored teas at breakfast. Some Holiday Inn hotels in the San Francisco and Chicago areas will even offer in-room ...

UPDATE 1-Banks hired for inaugural German Federal-regional bond

Tue, 18 Jun 2013 10:34:16 -0400

Tue Jun 18, 2013 10:34am EDT (Adds background, bank quote) By John Geddie LONDON, June 18 (IFR) - Five banks have been hired on Tuesday to manage the first ever joint bond issue between the German Federal Republic and its regions, with the deal expected to come to market as early as next week. The Bund-Laender-Anleihe bond, or so-called Deutschland-Bond, has been mandated to Barclays, ...

RSA Renews Contract with Motability Operations

Tue, 18 Jun 2013 09:49:24 -0400

The UK's RSA announced that it has renewed its contract to provide motor insurance to Motability Operations. ';The new contract extends a long term relationship and provides a strong, sustainable partnership for RSA and Motability Operations," said the bulletin. The new agreement goes into effect as of the 1st of October 2013 for an initial five years. "The deal will be on a ...

Willis Trade Credit Exec Analyzes Fallout of Turkey’s Unrest

Tue, 18 Jun 2013 09:49:24 -0400

In comments posted on the Willis website Andrew van den Born, Executive Director in Willis' Political and Trade Credit Risks division, analyzed the potential fallout from the continued unrest in Turkey and the potential gaps in insurance coverage. "Turkey is in the midst of the biggest anti-government street protests since Islamist-leaning Justice and Development Party (AKP) took power ...

Canada’s PC Insurers to Expand with ‘Receivables Insurance Association’ Launch

Tue, 18 Jun 2013 09:49:24 -0400

The Canadian property and casualty insurance industry is expanding with the launch of the Receivables Insurance Association of Canada. "Less than 1 percent of Canadian companies currently utilize receivables insurance as part of their financial planning," said the bulletin. "Canada's CEOs, CFOs, Credit and Enterprise Risk Managers misunderstand the role of receivables ...

MAPFRE GLOBAL RISKS Aims to Strengthen European Presence

Tue, 18 Jun 2013 09:49:24 -0400

MAPFRE GLOBAL RISKS announced plans to "enter into new markets and grow in those where it has not consolidated its presence yet," beginning with efforts to "increase its business operations in Europe." Alfredo Castelo, MAPFRE GLOBAL RISKS' Chairman, addressing the inaugural session of MAPFRE GLOBAL RISKS' XXIII International Seminars, outlined the strategy. He noted ...

Central Bank of Bahrain Treasury bills oversubscribed 123 per cent

Tue, 18 Jun 2013 09:43:59 -0400

Central Bank of Bahrain The Central Bank of Bahrain (CBB) announced that this week's BHD 35 million issue of Government Treasury Bills has been oversubscribed by 123 per cent.The bills, carrying a maturity of 91 days, are issued by the CBB, on behalf of the Government of the Kingdom of Bahrain.The issue date of the bills is 19th June 2013 and the maturity date is 18th September 2013. The ...

Bad loans at Italian banks still growing in April

Tue, 18 Jun 2013 09:41:26 -0400

MILAN, June 18 | Tue Jun 18, 2013 9:41am EDT MILAN, June 18 (Reuters) - Bad debts at Italian banks showed no sign of a let-up in April rising to 133 billion euros ($177.52 billion), data showed on Tuesday, as Italy's longest post-war recession continues to take its toll. ABI, the Italian banking association, said in a statement gross non-performing loans in April grew by around 2.3 ...

Element Financial Closes $301 Million Special Warrant Financing

Tue, 18 Jun 2013 09:40:17 -0400

June 18, 2013 /CNW/ - Element Financial Corporation (TSX:EFN) ("Element" or the "Company"), one of North America's leading independent equipment finance companies, announced today that it has closed its previously announced Special Warrant financing. Element issued, on a private placement bought deal basis, 29,612,500 Special Warrants at a price ...

Jailed phishing gang targeted banks in 14 countries police say

Tue, 18 Jun 2013 09:39:55 -0400

Three UK-based criminals have been handed heavy prison sentences for their part in a vast phishing campaign that police claim would have stolen up to £59 million ($89 million) from British banks alone had it not been disrupted before execution. Initially the operation involving the Police Central e-Crime Unit (PCeU), SOCA Cyber and the US Secret Service monitored 2,600 phishing pages set ...

The Federal Housing Finance Agency hired an active insurance lobbyist as an outside expert

Tue, 18 Jun 2013 09:33:08 -0400

The fees Fannie and Freddie charge to cover credit risk on mortgages have been surging. Large segments of the market may soon be fair game for securitization without federal ...

Economic Report Monthly housing starts rebound in May

Tue, 18 Jun 2013 09:31:39 -0400

WASHINGTON (MarketWatch) -- Construction of new U.S. homes rebounded in May on the back of more apartment construction, according to government reports released Tuesday that signal continued healthy activity in the building sector despite higher mortgage ...

Banks lead European shares higher

Tue, 18 Jun 2013 08:45:39 -0400

London - Banks led gains in European shares on Tuesday with HSBC and Standard Chartered boosted by a positive Citigroup note, while speculation over monetary policy tweaks in the United States and China created an uncertain backdrop to ...

Digital banking solutions co Personetics raises $11.5m

Tue, 18 Jun 2013 08:44:24 -0400

Personetics will use the proceeds to increase sales and enlarge operations to meet the growing demand for predictive solutions that transform the digital experience for banking ...

Media Advisory Photo Opportunity - CIBC Deputy Chief Economist Benjamin Tal to discuss youth unemployment with high school scholarship winners

Tue, 18 Jun 2013 08:36:43 -0400

CIBC Youthvision Scholarship winners will then participate in a speed mentoring session to seek education, career and life ...

National Bank of Canada confirms new normal course issuer

Tue, 18 Jun 2013 08:36:42 -0400

Canada ("OSFI") have approved the Bank's new normal course issuer bid to purchase for cancellation up to 3,248,114 common shares, through the facilities of the TSX, representing approximately 2% of its issued and outstanding common shares. The normal course issuer bid will begin ...

Will your next holiday be made in China

Tue, 18 Jun 2013 08:27:26 -0400

reshaping American malls , they are also having "a huge impact on the U.S. tourist industry," says Z. John Zhang, a professor of marketing at the Wharton School at the University of Pennsylvania. Casinos in Las Vegas were among the first to cater to the influx of Chinese visitors, adding karaoke machines to private VIP gambling salons and red dcor, a color regarded as lucky in China, ...

Thinking about money leads to bad behavior

Tue, 18 Jun 2013 08:27:25 -0400

People are more likely to lie or make immoral decisions after being exposed to money-related words, according to researchers from Harvard and the University of Utah's David Eccles School of Business who published a report last month in the journal "Organizational Behavior and Human Decision Processes." The findings show that "even if we are well intentioned, even if we think ...

Treasury curve steepens ahead of Fed meeting

Tue, 18 Jun 2013 08:27:19 -0400

NEW YORK (MarketWatch) -- Long-term Treasury prices were slightly lower Tuesday ahead of a closely-watched meeting of the Federal Reserve, which takes place on Tuesday and Wednesday. A release on Wednesday may help clarify Federal Reserve monetary policy, which has kept the market on edge for the past six weeks. The 10-year ...

Middle East Finance Professionals Most Stressed Worldwide

Tue, 18 Jun 2013 08:24:59 -0400

Despite relatively steady economic growth, many financial professionals working in the Middle East still experience work-related stress. According to a survey conducted by eFinancialCareers, which serves the global financial community as the leading network of career sites for professionals working in banking and the financial markets, 31% of regionally-based finance professionals say they feel ...

Death toll tops 60 in India flooding

Tue, 18 Jun 2013 08:17:55 -0400

Three days of floods and landslides in India brought the death toll up to more than 60 people Tuesday and left 71,440 pilgrims stranded, officials said. The highland state of Uttarakhand was among the hardest-hit areas where more than 175 houses were destroyed, 44 people died and 44 were injured, Press Trust of India reported. In Rudraprayag, the Alaknanda River's banks swelled, killing 20 ...

President Obama hints Bernanke may be gone as Fed chief in 2014

Tue, 18 Jun 2013 08:17:51 -0400

Federal Reserve Board Chairman Ben Bernanke testifies on the Board's Semiannual Monetary Policy Report to Congress during a Senate Banking, Housing and Urban Affairs Committee hearing on Capitol Hill on July 17, 2012 in Washington, D.C. UPI/Kevin ...

Hong Kong probes HSBC other banks

Tue, 18 Jun 2013 07:42:03 -0400

Hong Kong's de facto central bank said on Tuesday that its investigation into possible benchmark rate manipulation has been extended to include HSBC and a number of other ...

Spain sells 5 bln euros treasury bonds

Tue, 18 Jun 2013 07:41:08 -0400

The Spanish treasury has successfully placed on Tuesday 5.04 billion euros ($6.74 billion) of treasury bonds on the market, exceeding expectations of between 4 and 5 billion euros, although paying the highest interest rates since February.The auction experienced a high demand of 12.46 billion euros although it was lower than that of May when the Spanish treasury also sold treasury bonds of 6 and ...

Aluminium Bahrain appoints new finance chief

Tue, 18 Jun 2013 07:38:34 -0400

Aluminium Bahrain has announced that it has appointed Bahraini national Ali Al-Baqali as its new chief financial officer with immediate effect. The appointment was made by the firm following board approval at a meeting last week. Al-Baqali has worked at Alba for 15 years, joining as a purchasing officer in 1998 and rising through the ranks to his most recent post as acting chief finance and ...

Early retirees cost federal pension plan $2 billion a year

Tue, 18 Jun 2013 07:32:46 -0400

June 18, 2013 /CNW/ - Federal public employees who retire early are eligible to collect a "bridge benefit" (a temporary income top-up that ends when a retired public servant reaches the age of 65) which can be as much ...

Sun Life Financial and Canadian Wheat Board announce $150 million inflation-linked pension deal — the first of its kind in Canada

Tue, 18 Jun 2013 07:32:46 -0400

$150 million annuity policy with Canadian Wheat Board (CWB) that transfers investment and longevity risk from CWB's defined benefit pension plan to Sun Life Financial. The agreement is unique in the Canadian market because it involves pension income that grows with inflation as well as the innovative "annuity buy-in" solution. In addition, Sun Life Financial provided the ...

5 investment robbers and how to deal with them

Tue, 18 Jun 2013 07:26:44 -0400

: As an investor you may face different types of challenges in the current global environment where markets and investments are linked. As a fund investor, your life is even more complicated when you have to select between myriad funds from various fund houses. There are several investment options you have among funds-open-ended or close-ended, equity, debt, or commodities, etc. Having said ...

A Tactical Play in Alternatives

Tue, 18 Jun 2013 07:21:49 -0400

It's no secret that achieving long-term financial success requires discipline. Investors have spent decades carefully constructing and rebalancing diversified portfolios of stocks and bonds, seeking to strike the perfect balance. After the financial crisis debunked this formula for diversification, advisors began incorporating alternatives into the mix, allocating 5%-20% out of their ...

Direct-Sold vs. Advisor-Sold How to Decide Which 529 Type Is Best for You

Tue, 18 Jun 2013 07:21:48 -0400

I use our state's 529 college-savings plan, which I bought directly from the fund company, but I understand that some 529 plans are sold through financial advisors. Are these plans different, and are they any ...

Top 10 Holdings of Our Best Performing Ultimate Stock-Pickers

Tue, 18 Jun 2013 07:21:47 -0400

While a majority of our top fund managers are outperforming this year, three of them truly stand out from the rest given their ability to outperform the market over all time ...

Asian Markets End Weak

Tue, 18 Jun 2013 07:21:47 -0400

The U.S. central bank is scheduled to begin its two-day monetary policy review later today, and markets are awaiting further clues as to whether the massive monetary stimulus program initiated by the Fed Reserve in recent times would be scaled back over the short ...

Fitch Georgian Banks Financial Metrics Remain Solid Downside Risks Have Increased

Tue, 18 Jun 2013 07:21:42 -0400

Fitch: Spanish Floor Clause Ruling May Reduce Excess Spread A recent Spanish Supreme Court ruling could cause lenders to stop applying floor clauses that set minimum interest rates in mortgage contracts, and so reduce excess spread in Spanish RMBS transactions, Fitch Ratings says. The presence of interest rate floors in mortgage contracts has bolstered excess spread during the recent period of ...

RPT-Fitch Georgian banks financial metrics remain solid downside risks have increased

Tue, 18 Jun 2013 06:54:03 -0400

Tue Jun 18, 2013 6:54am EDT (Repeat for additional subscribers) June 18 (Reuters) - (The following statement was released by the rating agency) Fitch Ratings says in a newly-published report that sovereign and macroeconomic issues remain key for its bank ratings in Georgia. A marked deterioration in the operating environment could put downward pressure on these ratings, while upgrades are ...

John Prestbos Indexed Investor How to have your stocks and income too

Tue, 18 Jun 2013 06:40:51 -0400

NEW YORK (MarketWatch) -- Multi-asset income ETFs are getting more attention as dividend-paying stocks face competition for investors' dollars from rising yields in the bond ...

Where to put your money for a long hot summer

Tue, 18 Jun 2013 06:40:50 -0400

SAN FRANCISCO (MarketWatch) -- With U.S. stocks struggling to break new ground and a rise in Treasury yields upsetting the bond market, money managers are recommending a mix of proven blue-chips and exchange-traded products to weather the dicey summer ...

Kuwait-Malaysia tie-up to boost Islamic finance training

Tue, 18 Jun 2013 06:35:14 -0400

By Bernardo Vizcaino DUBAI, June 18 | Tue Jun 18, 2013 6:35am EDT DUBAI, June 18 (Reuters) - Malaysia's Islamic finance university and the research arm of Kuwait Finance House will develop training and internship programmes to address growing demand for professionals in the business, officials said on Tuesday. Despite rapid growth over the last several years, the Islamic finance ...

UPDATE 1-Hong Kong investigates HSBC other banks for inappropriate market conduct

Tue, 18 Jun 2013 06:28:58 -0400

Tue Jun 18, 2013 6:28am EDT (Adds HSBC comment, background on rate investigations) June 18 (Reuters) - Hong Kong's de facto central bank said on Tuesday that its investigation into possible benchmark rate manipulation has been extended to include HSBC and a number of other banks. The Hong Kong Monetary Authority (HKMA) announced in December that it was investigating UBS about possible ...

Spanish banks face up to 10 bln eur in extra provisions - Econ Min

Tue, 18 Jun 2013 06:28:32 -0400

SANTANDER, Spain, June 18 | Tue Jun 18, 2013 6:28am EDT SANTANDER, Spain, June 18 (Reuters) - Spain's Economy Minister Luis de Guindos said on Tuesday that Spanish banks would face extra provisions against loan losses of up to 10 billion euros ($13.35 billion) over the next two years to meet new rules on loan refinancings. The provisions would leave banks with a capital shortfall of ...

Foreign investment in Arab states rises despite unrest

Tue, 18 Jun 2013 06:25:16 -0400

View Photo AFP/AFP/File - Foreign labourers work at a construction site in the Saudi capital Riyadh on April 10, 2013. The flow of foreign direct investment into Arab states, including those hit by uprisings, rose ...

DealBook Albany May Tighten Rein on Banking Consultants

Tue, 18 Jun 2013 06:21:31 -0400

Benjamin M. Lawsky, New York’s superintendent of financial services. New York State's top financial regulator is preparing to crack down on the consulting firms that banks hire to navigate legal problems like money laundering and wrongful foreclosures, according to people briefed on the plans. In an attempt to force change upon a sector that operates with scant supervision and ...