Tue 31st Mar 15, 15:46:15
Prime Minister David Cameron has been accused of misleading the British public with pledges to cap immigration to the tens of thousands by UKIP leader Nigel Farage.
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Sharp falls from mining and tobacco stocks sent the FTSE 100 to its lowest close in two and a half weeks on Tuesday as investors used some weak economic data as an excuse to rebalance their books before the quarter-end. 1 hour ago
European indices trimmed earlier gains as concerns over Greece continued to weigh on markets. 1 hour ago
German banking giant Deutsche Bank had its rating downgraded to 'neutral' from 'outperform' on Tuesday, by Swiss banking rival Credit Suisse who cited valuation grounds. 2 hours ago
Online fashion retailer Asos on Wednesday reports its half-year interims following strong second quarter sales. 3 hours ago
AIM-listed coal miner Churchill Mining reported a widening of losses in the first half and said that a continued court case in Indonesia will carry on for several months, causing shares to lose over a fifth of their value on Tuesday. 2 hours ago
Shares in Rose Petroleum plummeted on Tuesday, after the oil and gas explorer said that attempts to tap the deeper reserves on its Mancos Shale project in Utah had been abandoned. 2 hours ago
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I know what you’re thinking; “Oh no, not another article about the FTSE 100 reaching 7,000”. Well, okay, yes it is. But it’s more of a story of how we got here and where we might be going.
Gold is one of the most widely traded precious metals instruments. It not only represents a commodity but is also considered by many a currency that trades fluidly against the US dollar.
Gold prices fluctuate based on the supply and demand for the precious metal, as well as rising and falling inflation expectations. Gold trades actively in the over the counter market as well as in futures format. Gold prices are quoted in US dollars per ounce.
Former trader Andrew Hecht, who spent 35 years on Wall Street with the likes of Salomon Brothers, Cantor Fitzgerald, HSBC and commodities hedge fund Global Advisors Ltd, writes about the issue of greed in the world of finance.
To many, the industry of finance is a culture built on greed and known for the scandals that this greed creates. As the bad behaviour continues, the anger of the masses grows, and more and more people wonder: are there any solutions?
One of the real-life Wolves of Wall Street, or Masters of the Universe, or Duke Brothers, depending on your film references, Michael Milken was apparently a major inspiration for the Gordon Gekko character in the 1987 film Wall Street (if you’ve not seen it, watch it, it’s great - and it’s on Netflix).
Low-rated bonds were viewed as just junk until Michael Milken’s bond trading division began to use them to generate huge profits for the investment firm of Drexel Burnham Lambert based on his MBA thesis that such previously disregarded securities were actually good investments.
The Eurogroup and Greece reached an agreement that prolongs Greece's bailout funds for another 4 months, provided Greece submits a list of reform measures.
So after all the wrangling, Finance minister Varoufakis ultimately agreed not to roll back previous reforms, refrain from unilateral action and accept IMF involvement, with troika oversight remaining in place in all but for the name.