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UBS Libor-fixing fine may reach $1.5 billion
Swiss banking giant UBS may be slapped with a combined fine of $1.5 billion (1.1 billion euros) to settle allegations that it manipulated Libor interest rates, the Financial Times reported Tuesday. “UBS is close to finalising a deal with UK, US and Swiss authorities in which the bank will pay…
Bernanke speaks at last – but manages to confuse Wall Street analysts
Federal Reserve chairman Ben Bernanke just had one of the most surprising press conferences of recent years, in which he indicated, in specific terms, the long-awaited end of the central bank’s intervention in the markets. Bernanke told Fed watchers to look out for higher interest rates when unemployment, currently at…
Fed to meet as U.S. recovery sputters
The erratic path of the three-year-old US economic recovery will weigh on Federal Reserve policymakers when they gather Wednesday amid a fresh bout of anxiety over the slow pace of revival. The Fed’s interest rate-setting panel will end two days of meetings in Washington to decide whether more stimulus for…
China says time is ripe to liberalize interest rates
China’s central bank chief says conditions are ripe for Beijing to liberalise interest rates, a move analysts say would boost domestic demand as the nation’s exports are hit by overseas turmoil. Beijing has cut the nation’s growth target for 2012 as its export-driven economy slows, and a key policy focus this year will…
They Used To Call It The Vig
There are certainly worse influences in poor communities than payday lenders, but those influences tend be involve acts of God and/or organized street gangs. Barring that, there’s little you could plan better than effectively removing banks and making the only instruments of financial planning one of the half-dozen check cashing…
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