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Thursday, 6 March 2014

March 5, 2014: News Updates

BoE's Haldane says IMF needs more funds

MANCHESTER, England Wed Mar 5, 2014 6:00pm GMT
(Reuters) - The International Monetary Fund needs more money to become a better bulwark against financial crises spreading, a senior Bank of England official said on Wednesday.

Andy Haldane, the central bank's executive director for financial stability, said the Group of 20 leading economies (G20) lamented when they met in Sydney last month that U.S. Congress had still not approved an increase for IMF funds.

The Bank Of England Suspended An Employee In Its Forex Manipulation Probe

Mar. 5, 2014, 7:59 AM    198
LONDON (AP) — The Bank of England has suspended a member of staff while it conducts an investigation into allegations that the institution condoned or knew about manipulation in the foreign exchange markets.

Morgan Stanley weighing sale of Swiss private bank: source

ZURICH Wed Mar 5, 2014 9:06am GMT
The corporate logo of financial firm Morgan Stanley is pictured on a building in San Diego, California September 24, 2013. REUTERS/Mike Blake
(Reuters) - Morgan Stanley (MS.N) is weighing the sale of its private bank in Switzerland which manages roughly 10 billion Swiss francs ($11.28 billion) in assets, a source close to the matter told Reuters.
The U.S. bank is looking at several options, one of which is an outright sale, the person said on Wednesday.
International banks including Standard Chartered (STAN.L) have been offloading Swiss operations for reasons including the need to raise funds or because private banking is no longer core to their operations.

Investment gurus also err: Warren Buffett admits $900 mn mistake

Published time: March 03, 2014 19:26
Multi-billionaire Warren Buffet has admitted he made a “big mistake” when he bought the debt of a company that’s now almost bankrupt without asking for advice from his long-standing business partner.
...“Unless natural gas prices soar, EHF will almost certainly file for bankruptcy in 2014. Last year, we sold our holdings for $259 million. While owning the bonds, we received $837 million in cash interest. Overall, therefore, we suffered a pre-tax loss of $873m. Next time I’ll call Charlie,” Mr Buffett wrote in his annual letter to shareholders of his Berkshire Hathaway Inc.

*Bernanke Finally Reveals, In One Word, Why The Financial System Crashed

march 5/14
Now that Ben Bernanke is no longer the head of the Fed, he can finally tell the truth about what caused the financial crash. At least that's what a packed auditorium of over 1000 people as part of the financial conference staged by National Bank of Abu Dhabi, the UAE's largest bank, was hoping for earlier today when they paid an exorbitant amount of money to hear the former chairman talk.
...So what was the reason, according to the man who was easily the most powerful person in the world for nearly a decade?
"Overconfidence." (no, not "weather")

481 Barclays Employees Paid Over 1 Million Pounds In 2013, Increase Of 53 From 2012 Despite Losses, Mass Layoffs

march 5 2014
It was less than a month ago when Barclays announced it would fire 12,000 workers after posting abysmal earnings with Q4 banking income crashing 37% and overall income sliding 9%. So, one would think, its employees would be punished with lower pay - those that are lucky enough to keep their jobs of course. One would be wrong. Reuters just reported that 481 of Barclays employees were paid 1 million pounds ($1.7 million) or more last year, 53 more than in the year before, and most of them were based in the United States.

Three Gulf Arab states recall envoys in rift with Qatar

RIYADH/DOHA Wed Mar 5, 2014 5:42pm GMT
(Reuters) - Saudi Arabia, the United Arab Emirates and Bahrain withdrew their ambassadors from Qatar on Wednesday in an unprecedented public split between Gulf Arab allies who have fallen out over the role of Islamists in a region in turmoil.

Kiev snipers hired by Maidan leaders - leaked EU's Ashton phone tape

Published time: March 05, 2014 12:41
Edited time: March 05, 2014 14:30

The snipers who shot at protesters and police in Kiev were allegedly hired by Maidan leaders, according to a leaked phone conversation between the EU foreign affairs chief Catherine Ashton and Estonian foreign affairs minister, which has emerged online.

The Ukraine Drama: What you see is not what you get.

What you are seeing in the Ukraine is not what it seems and not what the media is screaming that it is.  This my friends is a HUGE distraction, and one that to me has obviously been planned out for a long long time.

UKRAINE: CIA And EU Collude To Execute Another Color Revolution

Updated 02/25/2014 at 2:40 pm
Even after the world community of nations watched US envoy Victoria Nuland show up in the Ukraine with the explicit purpose of fomenting a coup d’etat, the Ukrainian president seems powerless to stop its momentum.

Such is the profound and pervasive power that the CIA, NSA, DIA and US State Department exert around the globe.  Even with the countless alternative news websites on the internet exposing US-UK -EU crimes against other nations, do they proceed with starting civil wars without impediment.

Turkey's Erdogan says calls with world leaders may have been bugged

ISTANBUL Wed Mar 5, 2014 3:49pm GMT
(Reuters) - Turkish Prime Minister Tayyip Erdogan, embroiled in a scandal over leaked voice recordings, said on Wednesday his sensitive conversations with other world leaders may have been tapped as part of a campaign by his political enemies to discredit him.

US blast: One killed, 55 homes damaged

A view of the Crockett Lane house explosion scene in Ewing, N.J. Tuesday Mar. 4, 2014
A view of the Crockett Lane house explosion scene in Ewing, N.J. Tuesday Mar. 4, 2014
Wed Mar 5, 2014 2:45PM GMT
A woman was killed and seven other people were injured Tuesday in a gas explosion that destroyed at least 10 homes in a Crockett Lane development.
...The force from the explosion buckled windows in an apartment complex nearby, said resident Marsha Brown, and pictures fell from her walls.
“It felt like a bomb,” she said.

China lawmakers wary, tight-lipped on fate of former security chief

BEIJING Wed Mar 5, 2014 10:28am GMT
(Reuters) - Delegates at China's annual parliament session on Wednesday were loath to discuss Zhou Yongkang, the former domestic security chief rumoured to be the most senior politician ensnared in a graft scandal in modern China's history.

Speculation has swirled for months that Zhou, 71, who was a member of the ruling Communist Party's Politburo Standing Committee, the apex of power, is being investigated for corruption.

Zimbabwe says its only reserves are $500,000 in gold coins

HARARE Wed Mar 5, 2014 5:44pm GMT

(Reuters) - Zimbabwe is holding gold coins valued at $501,390 (299,802.68 pounds) as its only reserves, enough to buy only 1,400 tonnes of maize, the finance minister said on Wednesday, highlighting the parlous state of the country's finances.

Wealthy mainlanders threaten to sue after Canada scraps visa scheme

Thousands of Venezuelans stage fresh rally - March 5/14