On June 28, 2012, Barclays, the United Kingdom’s second largest bank by assets admitted to a claim by the authorities that it manipulated borrowing cost from 2005 to 2009 and agreed to pay a fine of $455 million to U.K. and U.S. authorities to settle charges. Barclays sets the London interbank offered rate commonly known […]

Since the Greek election and their decision to work with the Eurozone instead of leaving it, European countries are feeling bit relieved. Spain recently received $125 billion in bank bailout funds. However, now the focus shifts to Italy. Italy is the third biggest economy in the Eurozone. Italy is showing signs of financial trouble for […]

By the time JPMorgan Chase discovered a loss has occurred at its London office on May 10, 2012, it has exceeded more than $2 billion. Its CEO has taken immediate action by removing the responsible parties from the bank. At a hearing before the Senate Banking Committee on June 13, 2012, the CEO stated that […]

First it was an article in the New York Times and then it spread over to the Internet during the last two weeks of April 2012 that a subsidiary of the retail behemoth Wal-Mart Stores, Wal-Mart de Mexico, is involved in a $24 million bribery scandal in Mexico in September 2005. It was alleged that […]

The DOW Jones Industrial Average, simply known as DOW, was created in 1896. It consists of 30 publicly traded large companies based in the United States and commonly referred to as a blue-chip average. Therefore, it is one of the widely used barometers of the U.S. economy. It has been deteriorating within the last five […]