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Amanda Anna G

Foreign exchange fines: banks handed £2.6bn in penalties for market rigging |... - 3 views

  • The corruption of the world’s biggest currency dealers was laid bare on Wednesday when regulators imposed £2.6bn of fines on six major banks for rigging the £3.5tn-a-day foreign exchange markets.
  • Two UK and US regulators said they had found a “free for all culture” rife on trading floors which allowed the markets to be rigged for five years, from January 2008 to October 2013.
  • The chancellor, George Osborne, said: “Today we take tough action to clean up corruption by a few so that we have a financial system that works for everyone. It’s part of a long-term plan that is fixing what went wrong in Britain’s banks and our economy.”
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    Regulators have imposed fines on six major banks for rigging foreign exchange markets. George Osborne argues that action have been taken in order to clean up corruption so there will be a financial system that works for everyone. 
Daniel Soto Aggard

Five banks fined €2.5 BILLION over rigging foreign exchange rates - 0 views

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    This article concerns the banks in the area of the UK. Banks such as: citibank, HSBC, UBS, and Royal Bank of Scotland. These banks have been fined at total of 2.5 billion pounds for rigging exchange rates. In order to receive more income.
Sungmin Lee

How to game the $5.3 trillion currency market - 0 views

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    Three traders, who called themselves the "Three Musketeers", worked in big corporate banks and that met in a chat room to coordinate their buying and selling to shift currencies to their favor. Regulators have caught onto what these traders and banks have been doing and fined them with a fine over $4 billion.
Dina B

Apple iPhone - 2 views

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    This article talks about how the iPhone 5C is doing. It seems that it isn;t doing to well, however this might not be the case. It talks about how apple could lower the price of the phone to make more people want it, however, they don't seem to need to take those steps. (This refers to price elasticity).
Zube Iheobi

Banks brace for £3bn fine over foreign exchange rigging | The Times - 0 views

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    foreign exchange rigging displays the vitalness and potential benefits that can com from aving a good value to your currency
Pip Dop

Exchange Rates Week 42 - 1 views

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    This article is about how some of the 6 largest banks have been fined £2.6 billion for manipulating exchange rates for a number of years. The case is a good indication of the importance of exchange rates and that well-known and supposedly well-respected banks are willing to take the risk of committing this crime.
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