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|A new code aims to clean up the foreign-exchange market|
Added: 25.05.2017 15:49 | 0 views | 0 comments
FINANCIAL-MARKET traders have earned a pretty shocking reputation in recent years. From manipulating LIBOR, a benchmark interest rate, to rigging the daily fix of foreign-exchange (FX) rates, traders have shown themselves ready not just to stretch the rules, but to collude in outright illegality.
A global code of conduct for the FX market, unveiled on May 25th, aims to put things on a sounder footing. Drawn up over the past two years by a coalition of central bankers, known as the FX Working Group (FXWG), and supported by a panel of industry participants, the code’s 55 principles lay down international standards on a range of practices, from the handling of confidential information to the pricing and settlement of deals.
Such standards seem long overdue in the massive FX market. Roughly $5trn is traded every day (see chart). Many companies, pension funds and money managers depend on banks to hedge their exposure to currency fluctuations. Yet in the past traders colluded with one another...
|Connecticut proposes wage freeze, higher employee share for benefits|
Added: 24.05.2017 5:08 | 9 views | 0 comments
Connecticut Governor Dannel Malloy on Tuesday proposed a wage freeze and higher employee contributions to pension and healthcare while reducing the state's share, in a framework for an agreement with labor unions that could save the state over $1.5 billion by 2019.
|Sears gets relief on debt, pensions|
Added: 23.05.2017 17:17 | 1 views | 0 comments
Sears continues to work on turning things around.
|SFO to investigate pension liberation scams|
Added: 23.05.2017 16:28 | 7 views | 0 comments
Investors who signed over their pension savings to rogue firms have lost at least £120m.
|Trump budget will slash Medicaid, food stamps programs: reports|
Added: 22.05.2017 2:50 | 21 views | 0 comments
President Trump's first major budget proposal will include sweeping cuts to Medicaid, federal pensions and food stamps, according to new reports....
|Republicans already giving Trump's budget cold shoulder|
Added: 21.05.2017 23:48 | 13 views | 0 comments
Trump's blueprint for the 2018 budget year comes out Tuesday, and it's certain to include a wave of cuts to benefit programs such as Medicaid, food stamps, federal employee pensions and farm subsidies
|Brussels wants Britain ‘to pay for its £55BILLION pensions pot’ after Brexit|
Added: 20.05.2017 5:12 | 15 views | 0 comments
THE European Union wants Britain to contribute to its staggering £55billion pensions pot for decades after Brexit.
|Election 2017: State pension triple lock battle lines drawn|
Added: 18.05.2017 15:32 | 15 views | 0 comments
Pensions experts say Conservative plans to reduce the generosity of the state pension are a risk.
|Puerto Rico Begins Hearings To Restructure Billions Of Dollars In Debt|
Added: 17.05.2017 21:32 | 9 views | 0 comments
In San Juan, Puerto Rico, a federal judge Wednesday held a hearing to begin restructuring the U.S. territory's $74 billion public debt. It's a process akin to bankruptcy, in which bondholders, public employees and retirees owed pensions are all fighting for what's owed to them.
|Unite suspends planned BMW strikes after new offer|
Added: 17.05.2017 17:48 | 14 views | 0 comments
Three 24-hour walk-outs were planned at four sites in a dispute over pensions.
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