| Mar 21, 2014

Is bitcoin start of a financial revolution?

Bitcoin may not be the messiah of a new currency its hard-core fans yearn for, but it may herald the deeper financial revolution the Internet has been waiting for. While computers and smartphones have brought the Web to more than a third of the ...

New Fed Chairwoman Yellen keeps policy on track

Mar 20, 2014

New Fed Chairwoman Yellen keeps policy on track

New Federal Reserve Chairwoman Janet Yellen kept the central bank firmly on the path set by predecessor Ben Bernanke on Wednesday, shrugging off recent economic weakness as largely weather-caused. But she also took a crucial step to reshape how the Fed has signaled its ...

Panel hits U.S. government over American Swiss bank account holders

Feb 26, 2014

Panel hits U.S. government over American Swiss bank account holders

Billions of dollars in U.S. taxes are going unpaid because Americans are exploiting Swiss bank accounts, and the U.S. government has failed to aggressively pursue Switzerland’s second-largest bank, a Senate investigation has found. The bank, Credit Suisse, has provided accounts in Switzerland for more ...

Federal guidance on pot business leaves banks wary

Feb 18, 2014

Federal guidance on pot business leaves banks wary

For marijuana dispensaries around America, the days of doing business in cash — driving around with bill-stuffed envelopes to pay the rent, or showing up at a state revenue office with $20,000 in paper bags for the tax man — can’t end soon enough. ...

Net whiz kids now take aim at big banks

Feb 16, 2014

Net whiz kids now take aim at big banks

Irked by the high bank fees that are applied to international money transfers, two Estonian IT whizzes who helped engineer Skype and Paypal have hatched Transferwise, a global Internet platform that coordinates currency swaps between individuals. “Hey, hidden fees. Your secret’s out,” taunts the ...

U.S. banks get OK to let pot dealers open accounts

Feb 15, 2014

U.S. banks get OK to let pot dealers open accounts

U.S. regulators on Friday told banks they can allow marijuana dealers to open accounts, as states around the country begin to legalize the drug for medical and in some cases even recreational use. Wary of being caught up in “drug money” crimes, banks had ...

Feb 10, 2014

Nigerian politics roiled by missing oil money

Africa’s biggest oil producer, Nigeria, is facing questions about where billions of dollars in oil money is going amid suspicions of fraud and it being siphoned off to fund political campaigns. The issue has been rumbling since September, when the governor of the Central ...

Feb 6, 2014

Nation's big banks beef up overseas presence with boosted lending

Japan’s big banks are increasing their presence abroad, mainly in Asia, by expanding overseas lending to meet brisk demand for funds. Profit margins from lending operations at home have narrowed due to prolonged ultralow interest rates, while relatively high earnings can be expected on ...

Feb 4, 2014

Banks' record earnings mask actual profit prospects

The nation’s biggest banks, poised to achieve record annual earnings after last year’s stock market surge, may still disappoint investors as the equity rally fades, leaving them reliant on a lending recovery for profit. Net income at Mitsubishi UFJ Financial Group Inc., Sumitomo Mitsui ...

Europe is on the hunt for 'zombie banks'

Feb 4, 2014

Europe is on the hunt for 'zombie banks'

In Europe, the zombie hunt is on — not for undead humans but for “zombie banks,” the walking dead among lenders, too financially troubled to loan money in an economy that desperately needs investment, growth and jobs. The European Central Bank, the lead crisis ...