The world has not learned the lessons of the financial crisis

The world has not learned the lessons of the financial crisis

WHEN historians gaze back at the early 21st century, they will identify two seismic shocks. The first was the terrorist attacks of September 11th 2001, the second the global financial crisis, which boiled over ten years ago this month with the collapse of Lehman Brothers. September 11th led to wars, Lehman’s bankruptcy to an economic […]

Experian executive extols virtues of innovation at Friends of Finance luncheon

Experian executive extols virtues of innovation at Friends of Finance luncheon

Having seen travelers struggle with their luggage, Northwest Airlines pilot Richard Plath in 1987 devised putting rollers on suitcases. He went to Samsonite, which turned him down. Italian luggage maker Tumi, however, embraced the idea. The new cost for doing business in Tulsa. For those who care about business and this community, we have a […]

Japan finance minister seeks record 2019 budget to boost welfare, defence spending

Japan finance minister seeks record 2019 budget to boost welfare, defence spending

TOKYO (Reuters) – Japanese Finance Minister Taro Aso said on Tuesday initial budget requests for fiscal 2019 would likely reach a record high around 102 trillion yen (714 billion pounds), given an ageing population and defence challenges from China and North Korea. Japan’s Deputy Prime Minister and Finance Minister Taro Aso speaks to reporters in […]

Buy Manappuram Finance; target of Rs 134: Nalanda Securities

Buy Manappuram Finance; target of Rs 134: Nalanda Securities

Nalanda Securities’ research report on Manappuram Finance Company has outstanding gold loan AUM of 125bn. Within gold loan AUM, agricultural-based, micro loans and consumer based loans contribute one-third each in portfolio. With revival in business & rural economy (due to government initiative, normal monsoon in many regions), we expect agricultural and micro based loan to […]

Personal finance case study: the congressman who paid $37000 in bank fees

Personal finance case study: the congressman who paid $37000 in bank fees

Bank overdraft fees and credit card interest charges kick people when they’re down, financially, and one congressman’s indictment shows that doesn’t just happen to people with low incomes. Consider the case of U.S. Rep. Duncan Hunter, as laid out in a 60-count indictment alleging illegal use of campaign funds for personal expenses. As a long-time […]

Lowe's CEO Needs to Begin Making the Hard Decisions

Lowe's CEO Needs to Begin Making the Hard Decisions

In any corporate turnaround, there are tasks that are hard and those that are easy. Lowe’s (NYSE: LOW) new CEO, Marvin Ellison, so far is checking off all the boxes in the latter column. It’s time he started making the tough choices. Following a C-suite shakeup that eliminated certain job titles while creating others that were directly […]

Finance director sentenced after laundering $100m

Finance director sentenced after laundering $100m

A banned Auckland finance director has been sentenced after laundering dirty money for a high-profile multi-national drug deal. The former Queen St broker is now also bankrupt after a High Court judge fined him $5.3m for his “calculated and contemptuous disregard” for anti-money-laundering laws in connection with more than 1500 transactions totalling $105.4m. Xiaolan Xiao’s […]

Don't Be Baffled by Argentina's Crisis

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Turkey lira crisis: Finance chiefs to RESIGN as pressure grows on Erdogan

Turkey lira crisis: Finance chiefs to RESIGN as pressure grows on Erdogan

Erkan Kilimci, Turkey’s Central Bank deputy governor and ratesetter, is leaving the bank Reuters reported today. The Development Bank of Turkey, an institution aimed at promoting development and sustainable growth in the country, has released a document showing that Mr Kilimci is joining its board. Senior sources in the Central Bank said Mr Kilimci’s departure […]