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The bubble bursts on e-currency Bitcoin
Many saw it coming, but that didn’t stop the Bitcoin bubble from bursting: after rising to dizzying heights, the digital currency suffered its first true crash this week. The price of the virtual “geek” currency had soared through the stratosphere in recent weeks, trading for a high of $266 on…
Banking group warns there’s too much ‘easy money’ in global economy
An influential group of leading world banks warned Thursday that central banks are pumping out too much easy money and markets risk becoming dangerously addicted to ultra-low interest rates. The Institute of International Finance, which groups 450 banks, said if central banks continue to flood money into the global economy…
Germany keeps up austerity drive with Central Bank help
Germany’s finance minister warned Sunday that debt-laden eurozone states must stick to promised reforms and cuts despite last week’s offer of help from the European Central Bank that calmed markets. In a wide-ranging interview with the Bild am Sonntag weekly, Wolfgang Schaeuble also expressed confidence that Germany’s top court would…
Canada targets Syrian central bank in new sanctions
OTTAWA — Canada imposed Monday a fresh round of sanctions on Syria targeting the central bank and seven cabinet ministers in a bid to halt President Bashar al-Assad’s deadly crackdown on dissent. The Canadian embassy in Damascus and a consulate also were shuttered and Canadian diplomats left the country, the…
Obama signs Iran sanctions into law
US President Barack Obama Saturday signed into law tough new sanctions targeting Iran’s central bank and financial sector, in a move likely to deepen acrimony between Washington and Tehran. The measures, meant to punish the Islamic Republic for its nuclear program, were contained in a $662 billion defense bill, which…
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