Dec 17, 2014

Ruble collapse could shake Putin's grip on power

Russia failed to halt the collapse of the ruble on Tuesday, leaving President Vladimir Putin facing a full-blown currency crisis that could weaken his iron grip on power. A 6.5 percentage point interest rate rise to 17 percent overnight failed to prevent the currency ...

Russia hikes rates in risky effort to halt ruble's fall

Dec 16, 2014

Russia hikes rates in risky effort to halt ruble's fall

The Bank of Russia raised its key interest rate to 17 percent from 10.5 percent in a desperate move to boost the ruble, which has sunk roughly 50 percent since January amid Western sanctions and plunging worldwide oil prices. The aggressive move reflected fears ...

Dec 16, 2014

Memories of financial crisis fading as risks rise

Six years after the collapse of Lehman Brothers, the lessons of the financial crisis may already be fading from collective memory. Just last week, Congress acted to loosen the regulation of the high-risk investments that ignited the 2008 crisis. Housing regulators cut minimum down ...

China's railway giant flexes muscles abroad

Dec 4, 2014

China's railway giant flexes muscles abroad

It will take more than the abrupt cancellation of a high-speed train deal with Mexico to derail China Railway Construction Corp.’s ambition to become a global force in transport projects and take on the likes of Siemens, Alstom and Bombardier. State-owned CRCC and its ...

Gambling debt cripples Macau 'junket' model

Nov 30, 2014

Gambling debt cripples Macau 'junket' model

Companies that connect China’s wealthy gamblers to Macau’s casinos are waiting as long as a year for gamblers to repay billions of dollars of loans, crippling the business model of an industry that sustains the world’s biggest casino center. These “junket” businesses, which lend ...

Nov 20, 2014

Support builds for ending benefits to former Nazis

Support is growing on Capitol Hill to strip suspected Nazi war criminals of their Social Security benefits. Members of the House Ways and Means and Senate Finance Committees introduced bills Wednesday to close a loophole in the law that allowed former Nazis to receive ...

Students protest education costs in London

Nov 20, 2014

Students protest education costs in London

Police and protesters clashed as several thousand students took to the streets of central London on Wednesday to rally against tuition fees, education cuts and student debt. Riot police tried to push back protesters who stormed the Conservative Party headquarters and tore down metal ...

Nov 20, 2014

London's bankers battle in the boxing ring

Gasping for breath and bleeding from a thick lip, Nick “Suicide” Seto exited the ring. But the pain of defeat would be forgotten the next day when he returned to work at a London bank. “I love winning, so it hurts, but I hope ...