The culture of foreign exchange market has changed significantly, but problems persist with the market that make it susceptible to further transgressions.
The view from Wall Street.
Big banks via www.shutterstock.com
Scandals at some of our biggest companies have highlighted a painful truth. The voluntaristic governance system put in place by City elites simply doesn’t work.
Will the dollar prove a draw for Islamic investors?
Reuters
Financial assets compliant with sharia are growing at a much faster pace than the conventional kind, yet North American banks are still stuck on the sidelines.
Push and pull factors. How bankers lose direction.
dayna mason
The revelation on the BBC and in the Guardian that British bank, HSBC, the second biggest in the world has allegedly helped UK residents sidestep taxes through a Swiss subsidiary should really come as…
Peer-to-peer lending, the online platforms which allow you and I to lend directly to people and businesses who want to borrow, has been hailed as disruptive technology. Cheered by savers who have been…
Caesars Entertainment argues the credit default swap market is giving at least one holder of its debt a perverse incentive to seek its default.
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In 2009, US trucking company YRC Worldwide faced ruin as it struggled to restructure its debt. With tens of thousands of jobs at stake, the Teamsters union, led by James Hoffa, accused some YRC bondholders…
Heads or tails this banker will cheat.
Nomad_soul via shutterstock
There is something in the culture of banking that lends itself toward making otherwise fairly good people do bad things. That’s the finding of a new study published in the journal, Nature. And it may simply…
Trading floors like this one – at the old American Stock Exchange in the 1980s – are at the heart of capitalism and financial speculation.
David Foster/Flickr via CC BY-ND
The word “speculation” carries a connotation of negativity. And it’s probably fair to say that pretty much every financial crisis since the tulip mania of the 1630s can be attributed to some sort of mass…
Lending standards are so tight that even former Fed Chairman Ben Bernanke, center, who until recently was one of the most powerful people in the world, can’t refinance his mortgage.
Reuters
It’s clear mortgage standards have gotten too tight when even a former Federal Reserve chairman who makes as much as US$250,000 per speech cannot refinance his home. Ben Bernanke complained about his inability…
Islamic finance is going global. South Africa has joined the UK and Hong Kong to become the third non-Muslim country to issue an Islamic bond or sukuk. And this follows American investment bank Goldman…
The latest survey on the basic understanding of financial terms like “loan”, “interest rate” and “budget” makes for shocking reading. The Money Advice Service surveyed 3,000 adults and found that 32% did…
Diwali celebrations in the City of London.
everheardofaspacebar
The crash of 2008 revealed an ethical crisis in banking, one of our most powerful and critical industries. To encourage bankers to clean up their act, proposals including caps on bankers bonuses, better…
Experimenting with bubbles.
Flickr/Indigo Skies Photography
Some shares have new owners every second. Today much of the buying and selling is done by computers, but some still rely on human intuition – the gut feeling of the experienced trader. “Nobody can predict…
Here’s the thing about big corporate mergers: in the long run, they’re rarely successful. And yet they keep happening. In fact, the corporate world is witnessing a wave of merger and acquisition mania…
“In capitalist countries, the bank robs you.” Rightly or wrongly, this phrase – a reversal of an internet meme – sums up many Europeans’ reactions to the bank bailouts and austerity of the last few years…
The world’s biggest cement producers Lafarge and Holcim have announced plans to merge. In an industry with strong economies of scale that already pumps out more cement than the world needs, consolidation…