May 28, 2013

HSBC Private Banking Holdings (Suisse), part of a global banking group that has spun off a number of businesses to boost profitability, says it is reviewing its Monaco private banking operation with a view to a possible sale. Meanwhile, the parent bank, in a statement issued to the London Stock Exchange today ahead of a […]

 May 26, 2013

The BNP Paribas branch in Monaco has been exposed by the Sherpa organisation for allegedly concealing a money laundering network between Monaco and various African countries. “We have written to the general prosecutor of Monaco, Jean-Pierre Dreno, to bring this matter to his attention and to ask him to open an inquiry,” said Sherpa spokesperson, […]

 May 15, 2013

Monaco’s new Wifi services have been inaugurated in the ports of the Principality as part of a large scale plan to increase the region’s internet facilities. Thanks to technical advances, Monaco Telecom can now offer Wifi and telecom services onboard boats, with special packages just for the Grand Prix F1 and the Monaco Yacht Show. […]

 April 19, 2013

Barclays, the global bank that has been in the spotlight over its role in a rate-rigging scandal, is shaking up its management ranks as it seeks to distance itself from the era of Robert E. Diamond Jr., its former chief executive. Rich Ricci, the head of the bank’s investment banking group, and Thomas L. Kalaris, […]

 February 28, 2013

The new boss of Barclays has attempted to break from the bank’s scandal-ridden recent past by announcing plans to pull out of controversial businesses that speculate on food prices, specialise in “industrial scale” tax avoidance schemes and use the bank’s money to bet on markets. Antony Jenkins, promoted to the top job last year when […]

 February 18, 2013

Barclays misled shareholders and the public about one of the biggest investments in the bank’s history, a BBC Panorama investigation has found. The bank announced in 2008 that Manchester City owner Sheikh Mansour had agreed to invest more than £3bn. But the BBC found that the money, which helped Barclays avoid a bailout by British […]

 February 10, 2013

Diversification: An investment in art can be an effective tool to reduce the risk exposure of a carefully planned investment portfolio. This would be an ideal measure to employ during a period of market volatility. The prerequisite here, is top-quality art and a long-term view of 10 years or more. Research supports the ability of […]

 January 15, 2013

The top Republican on the Senate committee that oversees the Justice Department issued a blistering criticism of Attorney General Eric Holder and his department for failing to pursue criminal charges against a giant global bank that admits violating federal laws by laundering money on behalf of Iran, Libya, Sudan and Myanmar. Sen. Charles Grassley, R-Iowa, […]

 January 14, 2013

Phrases such as “nobody will find out”, “cover up” and “off the books” are among those most likely to litter the in-boxes of corporate rogues according to fraud investigators deploying increasingly popular linguistic software. Expressions such as “special fees” and “friendly payments” abound for those embroiled in bribery cases, while rogue employees feeling the heat […]

 January 13, 2013

Even by the Byzantine standards of business deals in China, the twists and turns in the potential collapse of HSBC’s $9.4bn exit from its stake in Ping An Insurance are exceedingly complex. But the ultimate reason that threw the sale in doubt may be quite simple. The most plausible explanation is a change of heart […]