A senior HSBC banker has been charged him with fraudulently rigging a multibillion-dollar currency exchange deal after he was arrested by the FBI as he attempted to board a transatlantic flight. Allegations to have “corruptly manipulated the foreign exchange market to benefit themselves and their bank” and of “defrauding clients” have been leveled against Mark…
According to FiREapps, its bad news for multinational companies since Brexit is still sending shock waves through the $5.3-trillion-a-day currency market. FiREapps said that as businesses gauge the impact of the U.K.’s vote to leave the European Union, earnings in North America will probably be cut by a record $35 billion to $40 billion in…
As US Federal prosecutors step up their investigation into billions of dollars siphoned away from a Malaysian government investment fund, they are poised to launch one of the largest asset seizures in U.S. history. This was reported by the Wall Street Journal quoting people familiar with the matter. According to people familiar with the matter…
Robot technology is all set to significantly shake up one of the oldest economic activities on Earth – agriculture, sooner than later. The continuous innovations and research into workable robots have lowered the prices continuously and hence human labor is set to get increasing competition from robots even though employing robots is still relatively costly,…
The fact that chip technology has a long way to go is reminded every time a Pokemon Go fan drains a smartphone battery chasing virtual monsters. UK based ARM Holdings Plc dominated about 85 percent of the chip market and it has built a business designing chips that squeeze the most out of limited battery…
With the aim of boosting its chip business for electric cars, the South Korean technology giant Samsung Electronics Co Ltd is in talks to acquire a stake in Chinese automaker BYD, the electronics giant announced very recently through a statement. Seeking a new growth engine as the global smartphone industry is slowing, a team to…
Hundreds of American franchise dealers who have been damaged by Volkswagen’s emission scandal would be compensated by the car maker, sources among the dealers who met the company officials told the media, and this has been pledged by the Volkswagen executives. At a meeting with more than 150 Volkswagen dealers from the Northeast at the…
A bid to merge its document business with R.R. Donnelley & Sons Co. was privately rejected by Xerox Corp recently, reported The Wall Street Journal citing sources and people familiar with the matter. Splitting its business-outsourcing operations from its legacy printer and copier division, the plans for the division of Xerox being broken up into two businesses was…
After a long-running dispute over fees charged on card transactions with Mastercard Inc., a London Judge awarded 69 million pounds ($91 million) in compensations to J Sainsbury Plc. According to a Competition and Appeal Tribunal judgment published on Thursday, competition was restricted by the charges put on U.K. credit and debit card transactions by Mastercard. There have…
Promotion of illegal Israeli settlements in occupied Palestinian territory is the latest charge that has been thrown against Airbnb as the travel website comes under continuous fire for the property listings which have sent critics talking against it. Profiting from properties that are part of Israeli settlements located in the West Bank and mislabeling such…
