Finance
Ireland and Portugal to be granted extra 7 years to pay back bailout loans
Ireland and Portugal are to be granted an extra seven years to pay back their emergency bailout loans. The EU and the IMF bailed out...
Cyprus seeks help from EU to reduce burden of bailout conditions
Cypriot President Nicos Anastasiades has announced he will appeal for extra assistance from the EU after it emerged yesterday that the country would need...
Cyprus bailout to be finalized in Dublin eurozone finance ministers talks
Eurozone finance ministers meet in Dublin on Friday to finalize Cyprus bailout amid news that the country needs much more money than previously thought. The meeting...
Cyprus bailout cost rises to 23 billion euros
According to a draft document prepared by Cyprus' creditors, the cost of the bailout for the country has increased to 23 billion euros ($30...
Cyprus sells its gold reserves to finance bailout
Cyprus has decided to sell off much of its gold reserves to help finance part of its bailout. An assessment by the European Commission says...
Luxembourg to relax bank secrecy from 2015
Luxembourg has announced it would ease the secrecy surrounding its banks by implementing rules on the automatic exchange of bank account information with its...
Francois Hollande calls for tax havens eradication
France’s President Francois Hollande has called for "eradication" of the world's tax havens and told French banks they must declare all of their subsidiaries. Francois...
MasterCard investigated by European Commission over inter-bank fees
The European Commission is investigating MasterCard over fees charged for card transactions made by people visiting Europe. The Commission said some of MasterCard's "inter-bank fees...
Mary Jo White confirmed as new head of SEC
Mary Jo White has been confirmed by the US Senate as the new head of the Securities and Exchange Commission (SEC), the body that...
Japanese yen reaches its lowest level since 2008 against US dollar following stimulus plan
The Japanese yen has reached its lowest level since 2008 against the US dollar after the central bank began the latest round of its...
Luxembourg would consider greater transparency in its banking sector
Known for its highly secretive banking sector, Luxembourg would now consider a greater transparency in banks activity to help curb tax evasion, Finance Minister Luc...
Bank of Cyprus key data about bond purchases missing
Investigators have found that some key data about bond purchases by Bank of Cyprus is missing. According to Cypriot media, the gaps were found in...
Nikkei 225 reaches highest level since 2008
Japan's stock market has reached its highest level since 2008, after a recent central bank stimulus plan raised hope of economic revival. The main Nikkei...
Pope Francis to close Vatican Bank
Pope Francis prepares to tackle some of the Catholic Church's major problems and he starts with the Vatican Bank, which has been accused of...
Cyprus initial bailout plan was not smart, says ECB President Mario Draghi
ECB President Mario Draghi has said the initial plan to make small savers pay for the Cyprus bailout was "not smart". Mario Draghi said a...
Bank of Japan to expand country’s money supply to stimulate economy growth
The Bank of Japan (BOJ) has announced it will dramatically expand the country's money supply, as it tries to stimulate the economy growth. The Japanese...
Cyprus agrees on challenging rescue plan to release bailout
Cyprus has officially agreed to a set of measures that will release a 10 billion-euro ($12.8 billion) IMF-EU bailout. The IMF, which is contributing 1...
Dow Jones and S&P 500 set new all-time highs on Wall Street
Dow Jones and Standard & Poor's 500 share indexes have set new all-time highs on Wall Street. Now the stock markets are returning to levels...
Cyprus Finance Minister Michalis Sarris resigns
Cyprus Finance Minister Michalis Sarris has decided to resign after completing talks on the controversial IMF-EU bailout deal. Michalis Sarris will be replaced by Labour...
Stockton, CA, becomes the most populous US city ever to enter bankruptcy protection
California city of Stockton has become the most populous US city ever to enter bankruptcy protection after a judge has approved its bankruptcy filing. Stockton...
Cyprus crisis: Russia will not compensate its citizens who lost money in banking crisis
The Russian government has announced it will not compensate its citizens who have lost money in the Cyprus banking crisis. Russian citizens are believed to...
Unusual tax write-offs made and allowed by the IRS
A list of unusual IRS (Internal Revenue Service) claims that did get approved includes the woman who claimed her breast implants were a business expense...
Bank of Cyprus haircuts big depositors up to 60%
Bank of Cyprus depositors with more than 100,000 euros ($128,200) could lose up to 60% of their savings as part of the EU-IMF bailout restructuring...
Cyprus eases some bank restrictions
The Central Bank of Cyprus has decided to ease some of the restrictions imposed as the country's banks reopened, following the bailout deal. Debit and...
Global stock markets fall after Federal Reserve comments
Global stock markets have fallen after some members of the Federal Reserve suggested its stimulus measures may be increasing the "risks of future economic...
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