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Finance News

Oxfam assails World Bank arm for rights violations

Washington - The World Bank's private-sector finance unit supported development projects in numerous countries that involved grave violations of human rights, anti-poverty group Oxfam alleged in a new report Thursday.

FTSE 100 sets record on Tuesday but fails to hold it on Wednesday

After approval of economic reform proposals submitted by Greece helped the FTSE 100 reach record-breaking levels yesterday, it has fallen back considerably throughout the course of today, with shares in some major companies dropping by nearly 10 percent.

Ex-party head charged in Sarkozy campaign finance scandal: judicial source

Paris - The former head of France's right-wing UMP party was charged Tuesday with "abuse of confidence" over a campaign finance scandal dating back to Nicolas Sarkozy's run for the presidency in 2012.

Cleaning ladies first winners in new anti-austerity Greece

Athens - The reinstatement of the cleaning ladies at Greece's finance ministry was perhaps the most symbolic measure announced by the new anti-austerity government of Prime Minister Alexis Tsipras on Wednesday.

Asian stocks sink, euro near nine-year low

Hong Kong - Tokyo's Nikkei led an Asian share slump Tuesday following painful losses in New York and Europe, with fears sparked by the global slump in oil prices and the Greek political crisis.

Hedge fund founder shot dead in New York, son questioned

New York - A hedge fund founder was found fatally shot in his plush Manhattan apartment Sunday and his son later called in for questioning, police said amid press reports he pulled the trigger.

Germany warns Greece over reforms as radical left rises

Berlin - Germany's finance minister warned Greece that any new government must respect commitments made by its predecessor, as the country moved closer to early elections that EU officials fear would be won by a radical leftist party.

Poorest countries 'left behind': Climate finance report

- Half of nearly $8 billion in climate finance given to the developing world since 2003 went to just 10 countries, and nations most at risk got the short end of the stick, a report said.

Ex Vatican bank heads accused of embezzlement, accounts seized

- Two former Vatican bank managers and a lawyer have had their accounts seized as part of an investigation into allegations of embezzlement, the Vatican said Saturday.

Vatican discovers hundreds of millions of euros 'tucked away'

- The Vatican's economy czar said Friday he had stumbled across hundred of millions of euros "tucked away" in various accounts, describing the windfall as a relic of the papacy's medieval but soon-to-be reformed financial set-up.

Ukraine names U.S. national Jaresko as finance minister

Kiev - Ukraine's parliament on Tuesday confirmed U.S. national Natalia Jaresko as finance minister while handing the economy portfolio to Lithuanian investment banker Aivaras Abromavicius in a new government designed to sweep out graft.

Canada’s housing market continues to strengthen

As concern grows over the amount of capital that banks are holding to use for mortgage lending, Canadian financial officials want to monitor the situation to watch for signs of a real estate bubble occurring.

New reports suggest that the rich are getting richer

According to recent data and news reports, it’s true that the rich are getting richer. While that revelation may not surprise many, the reason why could.

Global financial regulator issues rules to curb 'too big to fail'

A global banking regulator has issued a series of proposals meant to protect taxpayers from ever again having to finance a bailout of large banks considered "too big to fail."

Identity theft: Why you need to worry beyond data breaches

Data breaches are an obvious problem these days, however, these massive exploits aren't all people need to worry about. While all eyes are on the big exploits, often the small-time criminals are also quietly raking in the cash.

Transfer money with just a tweet in France from tomorrow

French citizens can now transfer money to friends and family via a simple tweet thanks to a partnership between Twitter and French bank Groupe BPCE.

Australia PM vows to 'shirtfront' Putin at G20 over MH17

Sydney - Prime Minister Tony Abbott on Monday vowed to "shirtfront", or confront, Russian President Vladimir Putin at the G20 summit next month over the loss of Australian lives in the MH17 crash over Ukraine.

G20 finance chiefs aim to 'change destiny of global economy'

Cairns - Finance chiefs from G20 nations held talks Saturday, confident they can "change the destiny of the global economy" despite rising world political tensions and mounting fears of financial instability.

World financial teen literacy assessed: U.S. ranks only average Special

Paul Golden, of the National Endowment for Financial Education, speaks with Carol Ruth Weber about the importance of teaching teens to be financially literate. Read the full interview for Golden's tips on how to educate children to be money-wise.

Pay day loan middlemen complaints double in UK this year

Earlier this week, the Financial Ombudsman Service in the UK reported how it had seen complaints about so-called "middlemen" to pay day loan providers more than double this year.

Money management expert Bruce Sellery offers tips on finance Special

Digital Journal's interview with finance expert Bruce Sellery, conducted over Twitter, shed light on tips and advice for anyone looking to better manage their money.

Business growth in UK shows promise that economy is recovering

Data released shows a steady rise in the economy for the UK. With the news of economic growth in the UK and Europe, this could be a good time to get economic guidance to grow a business or begin a new business internationally.

35 cent minimum wage fee angers Minnesota cafe customers

Stillwater - Customers are voicing their anger on social media sites for the Oasis Cafe after owners added a 35-cent tax to their tickets. Owners state that they need the fee to cover local raises in minimum wage.

Bank provokes outrage from Muslims after shutting down accounts

City Of London - Authorities with HSBC Holdings have shut down multiple bank accounts citing that they were "outside of our risk appetite". Activists are responding by calling the practice "Islamaphobic" and demanding an explanation.

Op-Ed: 9 ways to teach your children about money

Let's face it – many kids, teens and adults today are more apt to blow their money faster than it takes to earn it. And with the majority of parents surviving on credit, it's no wonder the concept of saving is a difficult one for all to grasp.

Op-Ed: Inflation and quality of life in North America

Financial commentators have written about the 2.4% rise in inflation that Canada recently saw. Media writers are correct worry and there is plenty of evidence for that assertion.

Female students twice as likely to end up in debt from stress

New research has shown that female students are twice as likely to end up in debt at university as their male counterparts owing to poor personal finance skills and the large amounts of stress placed on them.

Bankers on the march: Hong Kong financiers join democracy fight

Hong Kong - When huge crowds took to Hong Kong's streets this week to voice anger at Beijing's ever-tightening grip, an unlikely group was marching in step: wealthy financiers fighting mainland influence over the city's markets and political life.

Op-Ed: Are you getting the most out of your mobile banking app?

Today, the mobile industry has us spinning on the palm of their hands. We even rely on our smartphones to take care of our personal finances. Why don't we maximize our mobile banking experience?

Majority do not understand differences between credit cards

A large number of credit card users do not fully understand their card's terms, benefits and rewards program, and have trouble selecting between different types of cards. This is according to an annual survey of credit card users.
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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
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
Retirement
Retirement
401(K) 2012
Comparison of disposable incomes
Comparison of disposable incomes
Wyatt Emmerich, theclevelandcurrent.com
John Swinney MSP
John Swinney MSP
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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.
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
With permission by Reuters
Untitled
Images Money
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.
Standard Chartered bank
Standard Chartered bank
Canadian Pacific