HSBC has agreed to pay just over $100m in penalties to settle a US Department of Justice probe into currency rigging. The payment comprises of $38.4m in restitution and a $63.1m fine, with the latter reflecting a 15pc reduction "in recognition of HSBC's cooperation during the investigation and its extensive remediation".
Citigroup will boost job compensation for women and minorities in a bid to close pay gaps in the U.S., United Kingdom, and Germany, becoming the first U.S. bank to respond to shareholder pressure about the inequalities. The New York-based financial company announced the effort Monday, saying it had conducted a survey in the three countries, where it found that women and minorities are paid only slightly less than their male and non-minority counterparts.
The US Treasury Secretary, Steven Mnuchin, stated that he’s “concerned consumers could get hurt” by using cryptocurrencies. To this he further declared that he would be working with the Group of 20 nations to prevent cryptocurrencies such as bitcoin from becoming the digital equivalent of an anonymous Swiss bank account. Mnuchin, during an interview at the Economic Club of Washington, said that the Financial Stability Oversight Council (FSOC) created a working group to examine digital currencies like bitcoin.
Walmart, the world’s largest private employer, is boosting its starting salary for U.S. workers to $11 an hour, handing out one-time cash bonuses to those who don’t benefit from the pay hike and expanding its maternity and parental leave benefits. The retailer said Thursday that changes to its compensation and benefits policy will impact more than a million hourly workers in the U.S. The company employs 1.5 million people in the U.S.
Caterpillar has long used a subsidiary in Geneva, Switzerland, called Caterpillar SARL, to process sales and profits for international orders, and the IRS wants the heavy-machinery maker to pay a $2 billion tax bill on that business, according to The Wall Street Journal. The Journal story goes onto say that, although the company maintains that its Swiss strategy, which results in an effective tax rate there of as low as 4%, is legal, some Caterpillar employees have questioned the practice, which began in 1999.
Bitcoin has started the year with another drop in its price. It’s the first time since 2015 that the cryptocurrency has started a calendar year with a fall in value. The virtual coin traded at $13,624.56 in the U.S. on Monday, down 4.8 percent from Friday. This is a fall from the final day of trading of 2017 when the price was at $14,156. The disheartening start to the year is in direct contrast to the January of 2017 when the cryptocurrency began its year of huge gains. On the first day of trading in January bitcoin rose 3.6 percent holding a value of approximately $998.
The caspian week conference is a meeting point of visionaries, market leaders and experts with the f
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Seit über 30 Jahren ist die ZfU International Business School Gastgeber für die angesehensten Inve
Over 150 Fintechs CEOs from all over the world will be in both panels & interviews and on this stage
From 2018 onwards, Switzerland’s financial fair will only be open to professional investors. This
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