Know What Is Going On!

June, 2014

Alex Salmond’s borrowing plans ‘prove currency union won’t happen’

The party proposes to increase public spending by 3 per cent in each of the first three years after independence, compared to UK Government plans for a 1 per cent rise. In 2018/19 alone that would mean borrowing an extra pound;2.4 billion. Writing to the First Minister, Mr Alexander said such plans contradicted the need […]

Four held with fake currency in Pilibhit, supplier flees

PILIBHIT: Four persons were arrested on Sunday with fake currency notes, having a face value of Rs 8,400, during a raid at a Pilibhit college. The counterfeit notes supplier managed to flee before the raid. SHO Sunngarhi police station Atul Pradhan told TOI, A police informer said that the five persons, involved in the fake […]

Greenpeace loses $5m in bad currency bet

Greenpeace has fired an employee after it group discovered he lost some 3.8 million euros ($5.15 million) in a bet on international currency markets. The group said the losses were a result of a serious error of judgement from an employee in the groups international finance unit, who acted beyond the limits of their authority […]

Apple ‘stamp of approval’ for Bitcoin points away from Apple currency

Bitcoin Bitcoin has been given a big boost of Apple appeal as virtual currency apps return to the App Store. Industry observers describe the move as a stamp of approval for Bitcoin that plays down speculation Apple could be planning to mint its own Bitcoin-style payment method. This weekend, Coin Pocket was the first virtual […]

RLPC-Vivarte lenders propose 2 bln euro restructuring

LONDON, June 4 (Reuters) – Struggling French retailer Vivarte has reached an agreement with 12 lenders on a financial restructuring to wipe out 2 billion euros ($2.72 billion) of debt and inject new money that will see lenders take the business, it was announced on Wednesday. Alcentra, Hayfin, Oaktree, ICG, Canyon, Goldentree, Babson, Oak Hill, […]

Why Auto Buying Is Easy and Stress-Free With Air Force FCU

Buying a new car can be a daunting process.  How do you know that the car you choose is going to be reliable in the many years to come? And how do you know if you are paying too much?  How much can you get for your trade in?  These are just a few of […]

Greenpeace loses big on international currency markets

A gamble gone wrong on worldwide currency markets lost Greenpeace International around 3.8 million euros ($5.15 million), the environmental charity announced on Sunday. Officials with the organization said the loss was caused by an employee acting on his own, without receiving the necessary approval to do so. They also said there was no indication of […]

Consumer debt – who’s to blame?

Are financial institutions, especially banks in the unsecured lending market, responsible for SA consumers spiraling household debt or are consumers simply too naïve? Nthabiseng* is 24 years old and already under debt review. She owes around R15 000 on three separate loans, one of which was taken with the troubled, unsecured lending-heavyweight, African Bank. Purchasing […]

Report: Repo Revenue to Approach $1B During Next 5 Years

Despite the potential for vehicle financing originations to moderate slightly, Soshkin pointed out the revenue potential forecast should be welcome news for repo agents that have struggled in recent years. “At the height of the recession, an increase in loan defaults and delinquencies caused repossession rates to soar as creditors sought to collect loan collateral,” […]

Mosul Bank Robbery Isn’t The Only Thing Funding ISIS

The Islamic State of Iraq and Syria (ISIS) is now the richest terror group in the world, after stealing $429 million from the central bank in Mosul, the second largest city in Iraq, which ISIS has occupied since earlier this week. While it will certainly gave their finances a boost, the group has been making […]

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