The Securities Exchange Board of India has been given legal permission to regulate any scheme involving the pooling of funds, similar to Ponzi schemes. The SEC India has been given search and seizure powers which will allow agents to seek any information in relation to suspect securities transactions. It will also be able to seize call data records and will be able to retain assets in ...
Indian-origin Lorgat named CSA chief following BCCI approval
Cricket South Africa (CSA) has reportedly named Indian-origin businessman Haroon Lorgat as its new chief executive officer (CEO), after getting a positive nod from the powerful Indian cricket authorities. According to Sport24, the position had not been filled on a permanent basis, since former CEO Gerald Majola was suspended and eventually sacked in 2010 for his part in the long-running bonus ...
Case against Toyota to begin
LOS ANGELES - Noriko Uno was afraid of driving fast, often avoiding the freeway and taking the same route every day from her Upland home to and from her family's sushi restaurant. She had put only 10,000 miles on her 2006 Camry in about four years. So when her car unexpectedly accelerated to speeds up to 100 mph on a street with a posted limit of 30, the 66-year-old bookkeeper did ...
Obama in a return to Ill. college to begin new series of speeches focused on the economy
WASHINGTON -- President Barack Obama will return this week to an Illinois college where he once spelled out a vision for an expanded and strengthened middle class as a freshman U.S. senator, long before the Great Recession would test his presidency. The address Wednesday at Knox College in Galesburg, Ill., will be the first in a new series of economic speeches that White House aides say Obama ...
SEC voted unanimously to pursue charges against SACs Cohen sources
Hedge fund manager Steven A. Cohen, founder and chairman of SAC Capital Advisors, responds to a question during a one-on-one interview session at the SkyBridge Alternatives (SALT) Conference in Las Vegas, Nevada May 11, ...
Cost of weeding out criminals and tax cheats hits private banks
LONDON (Reuters) - Private banks managing the financial affairs of the world's wealthy face spending millions of dollars every year on vetting new clients, as regulators get tough on banks that harbor tax cheats and money ...
British company dividends hit record total in second quarter
LONDON (Reuters) - British corporate dividends hit a record total in the second quarter of 2013, although underlying growth is slowing compared to previous predictions, a study showed on Monday.Second quarter payouts by UK firms hit 25.3 billion pounds, the largest ever quarterly total, with media, financial services and food producers all exhibiting double-digit dividend growth, research by ...
House prices and rent in England to surge by 2020 warns report
National Housing Federation which warns of the "colossal strain" facing the generation born in the 1990s.Many will remain trapped in their parents' homes ...
Al Khodari posts 43 drop in quarterly earnings
Kuwait Country Guide The Emirate of Kuwait is situated a the head of the Persian Gulf, and is bordered to the South by the Al Hasa desert region of Saudi Arabia, and Iraq which has a narrow exit to the port of Umm Qasr before the territory of ...
Deutsche Bank set to trim balance sheet by 20 percent FT
DBKGn.DE ), is expected to announce during its second-quarter results its plans to reach a minimum 3 percent overall equity to loans ratio in the next two and a half years, the Financial Times reported on Sunday, citing people briefed on the ...
Chinas rate reform points to eventual banking shake-up
SHANGHAI (Reuters) - Beijing's move to scrap the floor on lending rates is not yet a game-changer for Chinese banks, but it may have just started the countdown to an eventual industry overhaul which will deprive the banks of virtually risk-free ...
Volatile markets generate little cheer for Asias trading desks
HONG KONG (Reuters) - Trading desks normally love volatility but Asian operations have found little joy in recent wild swings, undercut by investors' brutal reassessment of the region's prospects as they prepare for the end of unlimited cheap cash from the United ...
Microsoft helped NSA access user info Guardian
The Microsoft logo is seen at their offices in Bucharest March 20, 2013.(Photo:Agencies) Microsoft Corp worked closely with U.S. intelligence services to help them intercept users' communications, including letting the National Security Agency circumvent email encryption, the Guardian reported on Thursday. Citing top-secret documents provided by former U.S. spy contractor Edward Snowden, ...
Portugals president opts for deal keeping coalition government in power
LISBON, Portugal -- Portugal's president has accepted a compromise reached by the coalition government that allows it to stay in power, defusing a crisis that had roiled financial markets. In an address to the nation, President Anibal Cavaco Silva ruled out early elections, opting for "the best alternative" which is "the continuation in office of the current ...
Tory strategist Lynton Crosby in new lobbying row
a leaked document obtained by the Guardian .The existence of the presentation by Crosby Textor to the H5 Private Healthcare Alliance will add to pressure ...
Advice to H5 from Lynton Crosbys company on heathcare in the UK ? extracts from the presentation
Four slides from a 12-slide presentation dating from late 2010 by CTF Partners, the former name of Crosby Textor, which show how the Tories' chief election strategist's firm advised private healthcare organisations to promote themselves in ...
Metals warehouses warned of probe
The U.S. commodities market regulator has put Wall Street banks and other big traders on notice for a possible investigation of their metals warehousing businesses following years of complaints about inflated prices. The U.S. Commodity Futures Trading Commission (CFTC) last week sent a letter to firms ordering them to preserve emails, documents and instant messages from the past three years, two ...
A Look Ahead This Weeks ETFs to Watch
the S&P 500's largest sector weight that is causing the problems, there might be reasons to be concerned. Stocks deserve some credit for another weekly advance, especially after Federal Reserve Chairman Ben Bernanke made clear that Fed tapering will commence sometime this year with an eye toward ending quantitative easing sometime next year. With no major scheduled events out of the Fed ...
Credit card ruling could lead to merchants charging additional fee to use ?premium? cards that offer incentives
A ruling expected this week on a complaint against Visa and MasterCard could significantly change how consumers use credit cards in Canada. The federal Competition Tribunal is set to issue a decision Tuesday on whether rules imposed on merchants by the credit card giants are too restrictive. Striking down the rules could allow merchants to either reject certain cards that offer incentive ...
6 injured when oil pipeline explodes in central Mexico Pemex blames illegal tapping
TOLUCA, Mexico -- A pipeline explosion Sunday that injured six people and sent flames and smoke shooting hundreds of feet into the air in central Mexico was caused by illegal tapping, Mexico's state-owned oil company said. The pre-dawn explosion in a farm field injured four police officers and two firefighters among those called to the scene, civil protection officials said. Petroleos ...
The China disconnect analysts lose plot on financial stocks
Sun Jul 21, 2013 4:59pm EDT * Majority of analysts rate China financials a buy * Yet China financials worst performing among top 10 markets * None of the 37 financials in MSCI China Index rated a consensus sell * Analysts pressured, wary of links firms have to China government By Nishant Kumar HONG KONG, July 22 (Reuters) - Seventy percent of analysts covering Chinese financial stocks rate them ...
Detroit cant wait for federal cavalry Orr says
Detroit must dig itself out of the hole it created and cannot wait to see if the federal government will come to its rescue, the city's emergency manager said on Sunday. Kevyn Orr, charged with guiding the collapsed Motor City out of the largest municipal bankruptcy in U.S. history, said any outside assistance would be "great" but he is not banking on it. "Hope is not a ...
Source: http://www.zimbabwenews.net/index.php/sid/215975658/scat/3a8a80d6f705f8cc
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