MONEY

Prince Charles charity link to Russian offshore network

Prince Charles charity link to Russian offshore network

An investment bank led by an oligarch who collaborated with Prince Charles on charity work managed a network of offshore companies moving billions out of Russia. An international investigation has exposed how the network received money from companies linked to major fraud. The oligarch, Ruben Vardanyan, is the former boss of Moscow investment bank Troika […]

Trump to delay further tariffs on Chinese goods

Trump to delay further tariffs on Chinese goods

  President Donald Trump has announced that the US will delay imposing further trade tariffs on Chinese goods. The rise in import duties on Chinese goods from 10% to 25% was due to come into effect on 1 March. Mr Trump said both sides had made “substantial progress” in trade talks, which sent Chinese stocks […]

UK signs post-Brexit trade deal with Switzerland

UK signs post-Brexit trade deal with Switzerland

  The UK and Switzerland have signed a deal to continue trading after Brexit as they did before it. The “continuity agreement” – based on the EU’s existing free trade deal with Switzerland – was agreed in December but ratified on Monday. International Trade Secretary Liam Fox said the deal would “continue the preferential trade […]

UK approves Vijay Mallya extradition to India

UK approves Vijay Mallya extradition to India

  UK Home Secretary Sajid Javid has approved the extradition of Indian business tycoon Vijay Mallya, who faces fraud charges back home. The move comes two months after a London court ruled that he should be sent back for trial. Mr Mallya, whose business empire once included Kingfisher beer, left India in March 2016 after […]

Vale halts bonuses and dividend after dam deaths

Mining giant Vale says it will curb dividends for shareholders and halt bonuses for managers. Its statement comes as it starts to investigate the dam breach in Brazil which killed 58 people. It is also setting up a committee to offer help to the victims. Rescue teams searching for 300 missing people after the collapse […]

IMF warns trade tensions could hit growth

The International Monetary Fund has warned that escalating trade tensions could undermine global economic growth. In a new report on the world economic outlook, the IMF also warns of risks from a no-deal Brexit. For the world economy, the IMF is now predicting growth of 3.5% in 2019. In October, it forecast 3.7%. For the […]

Market turmoil hits Citigroup revenues

US bank Citigroup has blamed the recent turmoil on global markets for a surprise drop in revenue. Fourth quarter revenue slipped 2% to $17.1bn (£13.3bn), falling short of analyst estimates of $17.5bn. The bank said income on its bond trading desks had slumped by a fifth following the fluctuations on financial markets in December. But […]

Vijay Mallya can be extradited to India, London court rules

Indian business tycoon Vijay Mallya can be extradited from the UK to India where he faces fraud charges, a London court has ruled. The extradition ruling will be passed to the Home Secretary for approval. Mr Mallya, whose business empire once included Kingfisher beer, left India in March 2016 after defaulting on debts of more […]

Global shares jump on US-China trade ‘truce’

  Global stock markets have jumped following the truce in the US-China trade war. US indexes rose about 1% on Monday, following gains in Europe and Asia. The increases come after the US and China said they had agreed to not increase tariffs for 90 days to allow for talks. It remains uncertain how the two sides […]

Shanghai Composite: surges on hopes of market support

One of China’s leading stock indexes has seen its highest daily spike in more than two years following signs that the government will step in to support battered equity markets. The Shanghai Composite closed up 4.1%, its biggest one-day rise since March 2016. The moves extend a rally that began on Friday and after investor […]

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