Mining gains prop up FTSE August 9, 2012 Gains in heavyweight miners kept Britain’s main share index flat this morning, as solid results from Randgold Resources and expectations of fresh stimulus measures from China propped up the equity markets. The FTSE 100 was down 0.08 per cent, as Randgold rose 3.1 per cent after reporting a 10 per cent rise in second-quarter profit. [...]
Iran may face oil embargo December 1, 2011 EUROPEAN authorities have imposed sweeping new sanctions on Iran and threatened to ban states from buying its oil yesterday in a significant escalation of efforts to prevent the country progressing its nuclear ambitions. European Union foreign ministers added 180 Iranian people and institutions to a blacklist that imposes asset freezes and travel bans on those [...]
Banks told to snub Iran November 21, 2011 THE TREASURY yesterday ordered all UK financial institutions to stop trading with Iran, in response to growing fears over the Middle Eastern nation’s possible nuclear arsenal. From 3pm yesterday, all UK credit and financial firms were required to halt transactions with Iranian counterparts and all their subsidiaries, including the Central Bank of Iran, under the [...]
Banks told to snub Iran November 21, 2011 THE TREASURY yesterday ordered all UK financial institutions to stop trading with Iran, in response to growing fears over the Middle Eastern nation’s possible nuclear arsenal. From 3pm yesterday, all UK credit and financial firms were required to halt transactions with Iranian counterparts and all their subsidiaries, including the Central Bank of Iran, under the [...]
Green under pressure to speak out on laundering July 22, 2012 FORMER HSBC boss Lord Green could at last make a statement this week on his time at HSBC and his knowledge of the money laundering scandal, it emerged yesterday. Business secretary Vince Cable yesterday said “I’m sure he will say what has to be said about his own oversight of this,” and a departmental source [...]
US denies Iran shot down drone December 4, 2011 Iranian media reported yesterday that their country’s military had shot down a US reconnaissance drone in eastern Iran, but a US official said there was no indication the aircraft had been shot down. NATO’s US-led mission in Afghanistan said the Iranian report could refer to an unarmed US spy drone that went missing last week. [...]
US denies Iran shot down drone December 4, 2011 Iranian media reported yesterday that their country’s military had shot down a US reconnaissance drone in eastern Iran, but a US official said there was no indication the aircraft had been shot down. NATO’s US-led mission in Afghanistan said the Iranian report could refer to an unarmed US spy drone that went missing last week. [...]
HSBC exec resigns over probe in US July 17, 2012 A SENIOR HSBC executive resigned yesterday amid claims by the US Senate that the bank allowed “drug kingpins and rogue nations” to launder money through its accounts. David Bagley stepped down as head of compliance at Britain’s biggest bank in front of a Senate subcommittee after a report was released revealing HSBC had failed to [...]
Iran: oil price could soar to $250-a-barrel December 4, 2011 IRAN yesterday warned the West that any move to block its oil exports would more than double crude prices with devastating consequences on a fragile global economy. “As soon as such an issue is raised seriously the oil price would soar to above $250 (£160) a barrel,” foreign ministry spokesman Ramin Mehmanparast (pictured below) said [...]
RAPID RESPONSES July 12, 2012 Firm interference [Re: Supporters of capitalism must help expose blundering firms, yesterday] When you compare corporate wrong-doing with the malfeasance committed by governments, corporate culpability is much smaller than the government’s. Would banks or other financial institutions offer fraudulent schemes if governments did not encourage them to? The problem can be traced to a fundamental [...]