The Federal Reserve Bank of New York has denied any responsibility over the $81 million cyber heist from the current account of Bangladesh Bank. But a BB audit report observes NY Fed responsible since it implemented five payments instructions out of thirty five leaving many questions behind. Following the internal report BB is getting prepared to file lawsuit against Fed.
Archives
Regency Hotel's loss rises to €217k after gangland murder, claims for indemnity
After the killing of David Byrne in a shootout at Dublin's Regency Hotel, it's reeling under severe pressure as losses amounted to €217,000. Regency Hotel has applied for indemnity to its insuring company Aviva for over €217,000.
Canada’s Liberal Budget Provides More Financial Aids to Students, Making Post-Secondary Education More Attainable
Canadian students can now receive more grants as the government’s first budget revealed more financial aids for post-secondary students. In addition, graduates will not be demanded to pay students loan back until they make $25,000 a year.
Asian stocks hurt by oil prices and robust US dollar
Stocks in the Asian market faced a steep decline for the second day following the drop in oil to less than $40 per barrel. In addition to the oil price drop, investors were curious about the US financial policy.
State Media Indicated That Chinese Government is Turning Against Alibaba
State-run media broadcasts indicated that the Chinese government is turning against the country’s most successful e-commerce company Alibaba. However, the company didn’t seem to take much damage from the reports in terms of sales and shares.
Latest News
CEO Tidjane Thiam determine to pursue further restructuring in Credit Suisse. The Swiss bank will cut more 2,000 jobs and cut more of its business.
United States gave a three-month reprieve for ZTE on export curbs imposed earlier this month. U.S. Commerce Department announced the decision on Tuesday.
Former investment advisor of Scottie Pippen has been sentenced to up to three years in prison for deceiving his clients. Pippen said that this betrayal has left him and his wife, Larsa, more anxious about their future financial condition.
The company recalled another 47,000 defective SUV due to problem in its fuel pump. Nissan also introduces its new mobility concept car this week.
Sherwin Williams doesn’t claim to have vast track record in acquisition and possesses experience of getting blocked in deals by the antitrust authorities. Its recently announced acquisition deal has been questioned by the analysts centering accusations of over valuation. Following the announcement, Valspar stock has been witnessed to soar while that of Sherwin Williams to tumble during extended hours trading on Monday.
Talbot Underwriting Ltd is spreading its footprint of financial lines business in Australia. Talbot Underwriting, a wholly-owned subsidiary of Validus Holdings Ltd, has appointed David McKenzie and David Jones as class underwriters at its financial lines team.
Price of iron ore rallies as China's property market showed further sign of recovery. Surge in the price of iron ore also correlated with increase in steel futures.
India's National Commodities and Derivatives Exchange (NCDEX) has imposed special margins in Kapas contracts. Kapas prices fell over seven percent during the past fortnight. NCDEX has taken the decision to check further fall in Kapas contracts.
OPIC, a US private development finance institution has extended support to India to build a low carbon economy and expand the internet infrastructure. It has sanctioned $421 million for India’s solar and development projects. The OPIC finance will exert its impact upon lives across the developing world while transforming focus from Southeast Asia to India.
