Greensill Capital promised a win-win for buyers and sellers, until it all fell apart, igniting concerns about opaque accounting practices.
Tag: Banking and Financial Institutions
China Charges Ahead With a National Digital Currency
The electronic Chinese yuan is now being tested in cities such as Shenzhen, Shanghai and Beijing. No other major power is as far along with a homegrown digital currency.
Mario Draghi Saved the Euro. Can He Now Save Italy?
Mario Draghi has broad support as he tries to form a new government and restore Italy’s credibility and clout in Brussels. But Italian politics is a dangerous place for an enigmatic technocrat.
Brexit Deal Done, Britain Now Scrambles to See How It Will Work
Britain is finally departing from the European Union, but its formal exit is only the beginning of a high-stakes experiment to unstitch commercial relations across an integrated continent.
Joseph Safra, Banker Who Was the Richest Brazilian, Dies at 82
An immigrant from Lebanon, he earned a reputation as a canny dealmaker overseeing a family banking empire reaching from São Paulo to Geneva to New York.
Bank of England Rebuked Over ‘Missing’ $67 Billion of Cash
A parliamentary committee found about 50 billion pounds worth of cash in circulation is not being spent, and blasted the bank for a lack of “curiosity” about where it is.
Turkey’s Finance Minister Resigns Amid Pressures of Sliding Economy
President Recep Tayyip Erdogan’s son-in-law, who is known for his ties to the Trump White House, said he was quitting as Turkey’s lira tumbles and its economy worsens.
Turkish Bank Case Showed Erdogan’s Influence With Trump
New details of the Justice Department’s handling of the accusations against Halkbank reveal how Turkey’s leader pressured the president, prompting concern from top White House aides.
For Refusing a Drink, a Chinese Worker Was Slapped in the Face
A Chinese bank apologized for the “drunken misconduct” of two directors at a work dinner. The episode led to scrutiny of the country’s professional drinking culture.
As Smoke Clears in Beirut, Shock Turns to Anger
As residents picked up the pieces, many saw the explosion as the culmination of years of mismanagement and neglect by Lebanon’s political leaders.