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Finance News

Court acquits Vatican's 'Mr 500' of money-smuggling

Rome - A former Vatican accountant known as "Mr 500" for his cash-rich lifestyle was acquitted by an Italian court on Monday of corruption and attempted money-smuggling.

Migration waves and terrorism to dominate Davos get-together

Paris - Europe's migrant crisis and devastating terror attacks will combine with the plunging oil price and China's economic slowdown to give the elite of the political and business worlds plenty to talk about when they gather in Davos from Tuesday.

The Man Who Sold His Songs: Bowie also rocked Wall Street

Paris - David Bowie was not just a musical visionary -- he also made history on financial markets two decades ago when he rocked Wall Street with a "celebrity bond", raising $55 million.

French prosecutors alerted over 'undervalued' Le Pen assets

Paris - A French financial body said Monday it had alerted prosecutors to the "undervalued" assets declaration of far-right National Front leader Marine Le Pen and her father Jean-Marie Le Pen.

Attacking IS finances from three diplomatic fronts

Paris - Since the Paris attacks last month, the international community has launched an offensive against the Islamic State's sources of terror financing, taking action on three diplomatic fronts: the G20, United Nations and European Union.

Russia launches its own rating agency

Moscow - Russia on Friday officially launched its own rating agency as it seeks to counterbalance the influence of Western agencies which have taken a pessimistic line on the country's crisis-hit economy.

IMF accused of bowing to political pressure in Ukraine support

Washington - The International Monetary Fund has been accused of giving in to political pressure in dropping a long established rule on prudential lending so that it can proceed with assistance for Ukraine.

IS finance chief killed in Iraq air strike: US

Washington - A coalition air strike killed an Islamic State finance chief in Iraq last month, the US military said Thursday, hailing it as another scalp in its bid to shatter the extremists' financial network.

Bitcoin founder's Sydney home raided in Australia tax probe

Sydney - Australian entrepreneur Craig Wright has been identified by tech publications as possibly the mysterious founder of online cryptocurrency Bitcoin, shortly before his Sydney home was reportedly raided in a tax probe on Wednesday.

PricewaterhouseCoopers to audit the Vatican

Vatican City - The Vatican on Saturday announced that accounting giant PricewaterhouseCoopers will carry out its first external audit, as Pope Francis seeks to make the Holy See's finances more transparent.

China announces $60 bn 'funding support' for Africa

Johanesburg - Chinese President Xi Jinping announced $60 billion of assistance and loans for Africa at a summit in Johannesburg on Friday, signalling China's commitment to the continent despite a recent fall in investment.

Billionaire Koch brothers, heroes of U.S. far right

Washington - With fortunes of $43 billion apiece, Charles and David Koch are fourth on the list of wealthiest Americans. But they are unsurpassed in their influence over vast donor sums discreetly pouring into the country's conservative movement.

France to give Africa 2 bn euros for green energy

Le Bourget - France will give African countries two billion euros ($2.1 billion) over the next four years to develop renewable energy and replace climate-harming fossil fuels, President Francois Hollande said Tuesday.

French new anti-terror spending 'a few hundred million euros'

Paris - Fresh French spending on security in response to the Paris attacks will amount to "a few hundreds of millions of euros (dollars)", a lawmaker said in remarks published Wednesday.

Citi trials cardless, screenless ATMs controlled by your phone

Citi has started testing a next-generation ATM design that has no keypad or display. Instead, it is controlled by the user's smartphone in what is being billed as a faster and more secure way of getting money.

Peru protesters tell IMF 'imperialists' to go home

- Activists marched through the Peruvian capital Friday to protest what they called the anti-poor policies of the International Monetary Fund and World Bank, which are holding their annual meetings here.

Development banks pledge $15 bln in new climate funds: Officials

- Development banks including the World Bank have pledged an additional $15 billion a year by 2020 to fight climate change, taking the world closer to the clutch target of $100 billion, officials said Friday.

IMF meets in hostile territory of Latin America

- The International Monetary Fund faces a chilly reception as it meets this week in Latin America, the region that has been most hostile toward its policy prescriptions.

Ministers talk finance, seek to bolster climate pact

Paris - Ministers and diplomats from 57 countries gathered in Paris Sunday to discuss the make-or-break issue of finance in a climate rescue deal to be sealed in the French capital in December.

Op-Ed: Leeching kids, sapped parents & the parable of the financial cave

The latest ‘poll’ feasted upon by Canadian media has to do with young adults who remain partially dependent on their parents after high school and in many cases after post-secondary education.

Asian stocks up for second day on U.S. growth

Hong Kong - Tokyo shares led Asian stock markets higher on Friday after a surprisingly upbeat US economic growth report buoyed investors following a prolonged rout driven by concerns over China's economy.

Mega-donors extend 'shelf life' of struggling 2016 hopefuls

Washington - Chris Christie and Rick Perry may have stalled in the US presidential race but they could struggle on to the first primary votes, thanks to the mega-donors keeping their campaigns afloat.

Hillary Clinton healthy, quite wealthy: Campaign statements

Washington - Hillary Clinton is healthy and "fit to serve" as US president, her doctor affirmed, as the Democratic White House frontrunner also revealed details about her family's substantial personal wealth.

Apple gives free month of iCloud to Greeks who can't pay renewal

Apple has granted Greek iCloud subscribers a free month of usage after the financial crisis in the country meant that Apple would have been unable to take payment for the subscription service and users would have lost their stored data.

EU charges credit giant MasterCard with antitrust violations

The European Union on Thursday formally charged credit card giant MasterCard with antitrust allegations, alleging the credit giant is artificially raising monthly minimum payments for its European customers.

Facebook expands payments on Messenger across the entire U.S.

Everybody in the United States can now send and receive payments using Facebook Messenger after a large expansion made the feature mainstream. Users of the app can transfer funds with their friends quickly using just a compatible debit card.

Follow the money: Magnitsky case reaches Saint Tropez

Paris - In a fresh twist to the Sergei Magnitsky tax scam case which soured US-Russia relations, French investigators have found a money trail leading to the glitzy resort of Saint Tropez, sources told AFP.

Op-Ed: Study says Americans dedicated to saving, but still struggling

Everyone loves having extra money in the bank, but when it comes to the practical aspect of building up a savings account many Americans are still struggling to meet their financial goals.

'Conversation' with Hillary Clinton? That'll be $2,700

Washington - Four, five, even six times per week, Hillary Clinton meets deep-pocketed supporters eager to shake hands with the celebrity Democrat -- all-but-obligatory encounters helping her amass the war chest needed to win the White House.

Canadian Opposition party gains support for ban on banking fees

The Official Opposition in Canada has built cross party support for a motion to halt the rising tide of mandatory pay to pay banking charges.
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The Euro sign outside the European Central Bank in Frankfurt  Germany
The Euro sign outside the European Central Bank in Frankfurt, Germany
Standard Chartered bank
Standard Chartered bank
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The G20 Deputy’s Meeting and Financial Market Conference in Berlin on May 19-20.
The G20 Deputy’s Meeting and Financial Market Conference in Berlin on May 19-20.
Retirement
Retirement
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A sign outside the headquarters of JP Morgan Chase & Co in New York
A sign outside the headquarters of JP Morgan Chase & Co in New York
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Couple on couch  working through their budget.
Couple on couch, working through their budget.
Big Stock Photo
Federal Reserve G20 Data Display in Ratio Line Chart
Federal Reserve G20 Data Display in Ratio Line Chart
John Swinney MSP
John Swinney MSP
Comparison of disposable incomes
Comparison of disposable incomes
Wyatt Emmerich, theclevelandcurrent.com
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The G20 Deputy’s Meeting and Financial Market Conference in Berlin on May 19-20.
The G20 Deputy’s Meeting and Financial Market Conference in Berlin on May 19-20.