A tiny bank in Switzerland will do the unthinkable by applying negative interest rates to the accounts of its customers. Indeed, the Alternative Bank Schweiz (ABS) informed its clients last month that it would start […]
Finance
Bitcoin Predicted To Become Sixth Largest Reserve Currency In Global Market
A report released by Silicon Valley investment company Magister Advisors claims that Bitcoin will become the world’s sixth largest global reserve currency by 2030. It also says over the next few years, banks are set […]
Mega Merger Brewing In The Global Beer Market As Anheuser-Busch Eyes SABMiller
The beer industry might soon receive a major shake-up, as the world’s two largest beer producers, Anheuser-Busch, the maker of Budweiser and Bud Light, and SABMiller, owner of the Miller Brewing Company, could possibly become […]
Senators Start Inquiry Into ‘Ambulance Chaser’ Hedge Funds That Gamble On Lawsuits
Two top dog Republican senators – John Cornyn of Texas and Chuck Grassley of Iowa – have started an investigation which will examine what “the impact of third-party litigation financing is having on civil litigation.” […]
Authorities Issue Charges Against CEO Of World’s Once Largest Bitcoin Exchange
Japanese police have arrested the CEO of Mt. Gox, once the largest bitcoin exchange in the world, for financial impropriety. The charges come in the wake of an unexplained loss of up to half a […]
Citigroup To Pay Yet Another Multi-Million Dollar Fine Over Illegal Conduct
The Consumer Financial Protection Bureau (CFPB) has ordered Citigroup to refund $700 million to customers and slapped the institution with $70 million in fines for “illegal and deceptive credit card practices”. The penalties are the […]
Peer To Peer Lending Could Be The Next Financial Bubble
The $77 billion Peer to Peer (P2P) lending market is expanding exponentially thanks to Wall Street’s efforts to securitize the loans. It’s the same risky practice that led to the Great Financial Crisis, where poor […]
Wall Street Already Busy Rewriting History For 2016 Election
Understandably top executives from the biggest U.S. banks are concerned about anti-Wall Street rhetoric on the 2016 campaign trail. The banks have, after all, been running sophisticated criminal enterprises that have victimized hardworking Americans in […]