All Entries in the "Business" Category
Gold price October 4 tank by more than $50, oil prices by $2
Gold price on October 4 was down by more than $50 per ounce while oil prices slid by $2. The slide comes after two days of gold’s upward movement Precious metals that went up two days in a row went down again. Notwithstanding the slide in the stock market, both gold and silver registered sharp [...]
France and Belgium step in as Dexia totters
France and Belgium stepped in Tuesday to guarantee the financing of the troubled cross-border bank Dexia, as its shares plunged spectacularly on reports that it was to be broken up. The governments, shareholders in a bank that specialises in investing local government funds, acted as Dexia faced the threat of becoming the first major European [...]
Russia capital flight reaches $50 bn
Russia on Tuesday reported $18.7 billion in capital outflows in the third quarter that far outweighed state estimates and underscored the uncertainty gripping the country in recent months. The Central Bank said the poor quarter came on top of $30.6 billion (23 billion euros) that had left Russia between January and June, bringing the nine-month [...]
Prosecutors demand hefty Rajaratnam sentence
US prosecutors said Tuesday that former hedge fund manager Raj Rajaratnam should be given a hefty prison sentence next week, arguing that illegal gains from his insider trading netted about $72 million. Assistant US Attorney Andrew Michaelson told a court hearing that Rajaratnam should be punished for personal gains and also for the money that [...]
