Finance
News
Venezuela Eliminates 100 Bolivar Banknote
Cash crunch worsens as Venezuela weathers one of the worst economic crises in its history Venezuela pulls most popular banknote – BBC News Venezuela’s widely-circulated, oft-used 100-bolivar banknote will not be legal tender beginning December 16, 2016. Venezuelan citizens received notice of this move by the central government only a few days ago and the […]
Read More
News
British Man Discusses How He Spent Millions Loaned Him by Bank
Booze, cars, and women sums it up “The bank lent me $2m so I spent it on strippers and cars” from BBC News [Tweet “How one British man spent 2 million dollars #bank loaned him in error #highlife “] For more of the latest news on DEMAGAGA, click here. [ad name=”DMGG In-Content Responsive Ad”] [ad […]
Read More
News
Fed Raises Interests Rates for First Time in 10 Years
Move is a boon for the US banking sector Federal Reserve Hikes Interest Rates By A Quarter Point | MSNBC Move will be a profit windfall for the US banking sector which has not seen an interest raise in ten years. [Tweet “#Federal Hikes Interest Rates By A Quarter Point #banking #finance”] For more of […]
Read More
Headlines
News
News Headlines for July 1, 2016: Boris Johnson, Michael Gove, Brexit, and Finance Dominate This News Cycle
Headlines for July 1: Boris Johnson Unleashes Chaos, Markets React to Brexit Crispin Blunt on Tory leadership and Boris Johnson – BBC Newsnight from BBC Newsnight Ten news articles New Prime Minister for Australia? Donald Trump and Strong Women The Boris Johnson-Michael Gove Saga Upton Sinclair’s Impact on the Meat Packing Industry Senator Mike Lee […]
Read More
News
With Astronomical Debt Burdens and a Housing Bubble, Sweden Scraps Reform Plans for Mortgage Financing
Sweden’s recovery from Financial Times Sweden’s economic recovery threatened by potentially volatile housing debt market Unlike other countries in its Nordic neighborhood, the vast majority of Swedes do not pay off the mortgages on their homes – dying in debt and many having only paid the interest on the loan itself rather than the principal. […]
Read MoreNews
Netherlands Bank SNS Reaal Nationalized
After receiving a bailout of €750 million in 2008, SNS Reaal was thought to be profitable but its capital limits left it below legal solvency amounts, forcing the Dutch state to take a stake in the troubled financial concern. The Netherlands’ Finance Minister Jeroen Dijsselbloem said the move was to insure financial stability, especially after […]
Read MoreNews
Finance Minister Tendai Biti: $217 Remains in Zimbabwe’s Sovereign Account
In a report from Agence France Presse, Tendai Biti told reporters in Harare that Zimbabwe would have $217 remaining after it paid government workers, leaving the nation’s finances in a state of paralysis. Zimbabwe had extraordinarily high levels of inflation in 2011 and 2012 which the IMF claims have only recently moderated at levels beneath […]
Read MoreNews
Three-Party Coalition Greek Parliament Passes Law to Boost Tax Revenues by $3 Billion Annually
The move comes from the coalition government in Greece’s parliament in order to appease creditors to the debt-ridden state as part of its bailout agreements. The law raises taxes on top earners, simplifies tax brackets, and extends income taxes to farmers. As part of its $45.5 billion bailout, Greece has to pass such laws even […]
Read MoreNews
HSBC Holdings Fears Fines Exceeding $1.5 Billion in United States Money Launder Scandal
HSBC Holdings, Europe’s largest bank, has expressed concerns that fines from its money laundering scandal in the United States could top $1.5 billion after a report from the US congressional Permanent Subcommittee on Investigations found that the bank had a culture of corruption and complicity in narcotics funds trafficking. [Reuters UK]
Read More