In recent years Goldman's status slipped in electronic trading because its technology did not keep up with client demands for ever-faster trades despite the bank being one of the top two stock brokerages in terms of revenue and customer rankings.   It was to fix this problem that the bank...

Criminals stole $ 100 million from the account of the Federal Reserve Bank of New York, cracking its electronic system. This reported AFP with reference to informed sources. These funds belonged to the Central Bank of Bangladesh and accounted for 4% of the total reserves of the country. This South...

France’s top public auditor has said that it would be potentially risky for French firm EDF to continue with the nuclear power project in Hinkley in Britain.   EDF is a state-owned power utility firm whose foreign investments in recent years have proved disappointing.   EDF and its...

Asia is poised to shake up the financial services industry as investors poured a record $4.5 billion into the financial start-ups in Asia last year.   Data shows that this is four times as much as was put in the previous year which has put the Asian region at the center of the global tech...

In what could be the largest ever and the most audacious bank raids in history, the central bank of Bangladesh was duped $101 million in a cyber heist. This has left the bank officials from Bangladesh to New York arguing over the security set up in banks.   Hackers allegedly masqueraded as...

The expectations a prevailing weak profitability among the markets brings down Moody’s long-term standings on the StanChart. The “long-term debt” of Moody’s on the “Standard Chartered” ratings have been downgrading for there are expectations of a continuous weak profitability of the lenders for the...

Sources have said that it is highly unlikely that a meeting between oil producers to discuss a global pact on freezing production will to take place in Russia on March 20, reports Reuters.   The news agency reported that there has yet been no confirmation from OPEC member Iran about its...

Potentially strengthening its hand in a proposed merger with London Stock Exchange (LSE), the Deutsche Boerse is selling U.S. options exchange operator International Securities Exchange for $1.1 billion to Nasdaq.   Having written it down continuously since acquiring it for $2.8 billion in...

Banks are like any other business, but they have a particular position on the market. They permeate every other kind of business, as an intermediate agent in almost every type of transaction, except one: cash. Thus, banks are trying to close the loophole, through the slow deletion of cash from our societies.