Following the British vote to leave the European Union, markets around the world slipped into free fall on Friday. Sterling fell to a low not seen since 1985, far below its value during the 2008 financial crisis. It lost parity against the dollar and the euro, but Mark Carney, Governor of the Bank of England and Chairman of the G20’s Financial Stability Board, said not to worry. The bank announced... 

When the global economy is doing well, the amount of stuff that is imported and exported around the world goes up, and when the global economy is in recession, the amount of stuff that is imported and exported around the world goes down. It is just basic economics. Governments around the world have become very adept at manipulating other measures of economic activity such as GDP, but the trade numbers... 

Argentina’s central bank has ordered HSBC to remove its local CEO within 24 hours over his alleged failure to thwart terrorist financing, money laundering, and tax evasion. In March, Argentinian authorities ordered HSBC to return a mammoth $3.5bn (£2.3bn) from an array of accounts nestled offshore. Argentina had accused the scandal-ridden bank of assisting over 4,000 clients in evading taxes by... 

The Ministry of Finance (MoF) is reporting today that British banking giant HSBC is nearing a total collapse after its having lost a staggering nearly $1 trillion due to the ongoing Great 2015 Global Market Crash and earlier today it completely ran out of cash to pay its obligations and depositors. According to this report, HSBC is a multinational banking and financial services company headquartered... 

A former Bank of England economist has called for a total ban on cash and its replacement with credit accounts controlled directly by governments. In a column for the London Telegraph, fund manager Jim Leaviss all but advocates economic fascism as a means of enabling authorities to respond to financial crises better by implementing a “cashless society.” “Forcing everyone to spend only by electronic... 

As disgraced British bank HSBC considers moving its headquarters to Asia, many UK tax payers have welcomed the news. The banking giant, which previously assisted criminals in dodging tax, cited regulatory changes as a driving factor for its move. HSBC is pondering selling off its UK retail unit in a lucrative £20bn deal, as it reviews whether it should remove its headquarters from the City of London... 

Members of the French Communist Party stage a mock protest outside the headquarters of Swiss bank HSBC on the Champs-Elysees avenue, on February 26, 2015 in Paris. Communist protesters held a mock arrest of HSBC’s CEO as anger towards high finance continues to mount in austerity-wracked France. The Swiss arm of HSBC is being investigated in France over leaked files which allege the bank masterminded... 

Fears of bank runs have escalated with the news that Russian lender ‘My Bank’ has banned all cash withdrawals until next week. “Bloomberg reports that ‘My Bank’ – one of Russia’s top 200 lenders by assets – has introduced a complete ban on cash withdrawals until next week. While the Ruble has been losing ground rapidly recently, we suspect few have been expecting bank runs in Russia.... 

Several major financial institutions under inquiry in the Libor case are going to push for introducing account fees for their customers. They blame ‘free’ accounts as one of the reasons behind interest rate rigging. The major banks including Britain’s Barclays and Spain’s Santander are expected to argue in favor of introducing account fees at a meeting of the UK Parliamentary Commission... 

Wealthy tax evaders, aided by private banks have exploited loopholes in tax legislation and stashed over $21 tn in offshore funds, says a report. The capital drained from some developing countries since 1970 would be enough to pay off national debts. ­The findings show the gap between the haves and the have-nots is much larger than previously thought. The document, entitled The Price of Offshore... 

One of the biggest high street banks, London based HSBC, have been caught up in funding terrorism and money laundering for the Mexican drug cartels. HSBC’s activities in Saudi Arabia were brought into question in a report, which specifically refers to banking with Al Rajhi Bank. The investigation claims the Saudi bank has links to financing terrorism, based on evidence gathered after the September...