News on Permanent Portfolio Fund (PRPFX)Thursday November 26th 2015
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Thursday November 26th 2015: Latest financial news from the worldEuro on shaky ground, stocks up on talk of aggressive ECB easing
LONDON (Reuters) - The euro slipped back towards seven-month lows, bond yields fell and European shares rallied on Thursday as talk of aggressive stimulus from the European Central Bank next week gained ground.
Barclays fined for lax crime checks in 'deal of century'
By Steve Slater and Huw Jones LONDON (Reuters) - Britain's financial watchdog has fined Barclays 72 million pounds ($109 million) for cutting corners in vetting wealthy customers in order to win a huge transaction described by one senior manager as potentially the "deal of the century." Barclays arranged the 1.9 billion pound transaction in 2011 and 2012 for a number of rich clients deemed by the regulator to be politically exposed persons (PEPs), or people holding prominent positions that could be open to financial abuse. "Barclays did not follow its standard procedures, preferring instead to take on the clients as quickly as possible and thereby generated 52.3 million pounds in revenue," the FCA said. It said the bank took unusual steps to keep the details of the clients and the transaction off its computer system, where it would normally be recorded.
WTO talks stuck again as ministers prepare to meet, Azevedo says
By Tom Miles GENEVA (Reuters) - World trade talks are deadlocked and ministers are unlikely to find a way out of the impasse when they meet in Nairobi next month, World Trade Organization Director-General Roberto Azevedo said on Thursday. "We clearly are stuck in the negotiations at this point in time," Azevedo told a news conference. Since then the WTO has still managed to agree a few changes to the global trading rules.
Bank of America to halt dollar supplies to Angola: sources
Bank of America will stop supplying U.S. dollars to Angola at the end of this month, two foreign exchange sources said on Thursday, a move that could pile pressure on the oil exporter's ailing kwanza currency. South Africa's Rand Merchant Bank (RMB) said on Thursday that a U.S. bank had decided to discontinue providing it with dollars for onward supply to Angola which meant it would stop selling Angolan banks the greenback from Nov. 30. RMB, a division of FirstRand Bank Ltd [FSRJHB.UL], did not name the U.S. bank or say why it no longer wished to trade dollars with Angola.
VW's Audi suspends two engineers in emissions probe
By Andreas Cremer BERLIN (Reuters) - Volkswagen's luxury flagship Audi has suspended two engineers after its larger diesel engines were found evading emissions limits in the United States, Audi CEO Rupert Stadler said in a newspaper interview published on Thursday. Volkswagen (VW) and Audi notified U.S. authorities last Thursday that about 85,000 vehicles with 3.0 liter V6 diesel engines were fitted with emissions-control equipment that was not disclosed to U.S. regulators. The news widened a scandal at parent VW which has led to the ouster of its long-time chief executive and wiped more than 20 billion euros ($21 billion) off the group's market value.
Bad Saudi PR fuels riyal devaluation talk
By Andrew Torchia DUBAI (Reuters) - Speculation that Saudi Arabia could devalue its currency may owe more to a poor public relations effort by Saudi authorities than to the economic pressures on the kingdom. Riyadh has the tools available to protect itself as low oil prices push the current account and budget balances of the world's top crude exporter deep into deficit, senior bankers in Saudi Arabia and the Gulf said. In private conversations with Reuters this week, the bankers - many of whom are in contact with Saudi authorities - said Riyadh may detail a strategy to cope with an era of cheap oil as soon as next month, when the finance ministry presents the 2016 budget plan.
Britain sets 2018 deadline for claims in country's costliest bank scandal
Britons who were missold loan insurance, in what turned out to be the country's costliest consumer finance scandal, will have until 2018 to claim compensation under regulatory plans intended to draw a line under the issue. Britain's banks, which have already set aside more than 28 billion pounds ($42 billion) to cover payment protection insurance (PPI) complaints are also keen to close the issue. Lloyds Banking Group alone is accounting for about half the total compensation payments.
Peugeot must improve performance in Germany - CEO in magazine
PSA Peugeot Citroen must urgently improve its position in Germany, where it lags peers because it is failing to convince customers of the value and attractiveness of its cars, Chief Executive Carlos Tavares told a German magazine. "The unsatisfactory results in Germany are apparently due to the fact that German customers are not as convinced of our products as the Spanish, French, Austrian or Dutch ones are," automotive magazine Auto Motor und Sport quoted Tavares as saying in an interview published on Thursday.
Oil eases on glut, production outlook
Oil prices fell on Thursday after six days of gains, as concerns that escalating tension in the Middle East could disrupt supply faded, and the focus returned to a persistent market glut. Brent crude was down 77 cents at $45.40 a barrel at 0910 ET. West Texas Intermediate (WTI) futures were 32 cents lower at $42.72 per barrel after the U.S. crude rose to $43.30 earlier in the session.
Big banks accused of interest rate-swap fixing in U.S. class action suit
NEW YORK (IFR/Reuters) - A class action lawsuit, filed Wednesday, accuses 10 of Wall Street’s biggest banks and two trading platforms of conspiring to limit competition in the $320 trillion market for interest rate swaps. The class action lawsuit, filed in U.S. District Court in Manhattan, accuses Goldman Sachs Group , Bank of America Merrill Lynch , JPMorgan Chase , Citigroup , Credit Suisse Group , Barclays Plc , BNP Paribas SA , UBS , Deutsche Bank AG , and the Royal Bank of Scotland of colluding to prevent the trading of interest rate swaps on electronic exchanges, like the ones on which stocks are traded.
Unemployment rates fall in two-thirds of US states
Unemployment rates fell in two-thirds of U.S. states last month, evidence that modest economic growth is boosting hiring in most areas of the country.
6 hypermiling cars that get over 100 miles per gallon
By Cat DiStasioFuel efficiency is one rating that can really set a car apart from the pack. Although you can't yet walk into just any dealership and drive away in a vehicle that gets more than 100 miles ...
Watch ESA explain how it plans to find gravitational waves
In just under a week the European Space Agency (ESA) will launch its LISA Pathfinder spacecraft on a Vega rocket. Buried within the vessel are two cubes made of gold-platinium which, scientists hope, can ...
Raspberry Pi's latest computer costs just $5
LG restructures leadership after smartphone slump
The Predictive Enterprise: Five Trends Shaping the Future of Business
What if you could predict what products or services your customers wanted before they did? What if you knew how your competitors were thinking about the market? What if you could anticipate with accuracy the next game-changing business strategy that would give you a strategic advantage?These insights would make a huge difference. In fact the...
Lenovo Yoga 900 review: Same thin design with fewer compromises
Lenovo's Yoga laptops hardly need an introduction at this point: The company's iconic 2-in-1s are so popular that its competitors have been copying them right and left. Last year's edition, the Yoga 3 ...
Cloud Security Alliance and ISC⊃2; launch certification in Brazil
Authentication advances put 2016 light at end of breach tunnel
Black Friday deals: here are the UK's best
It's that time of the year again. Black Friday has finally arrived, bringing with it a near-endless stream of deals and discounts for you to consider. If you've decided to stay at home and avoid the chaos ...
OnePlus won't replace the 2's flawed USB Type-C cable
Google engineer Benson Leung recently tested the OnePlus 2's USB Type-C cable and said it "may cause damage to your charger, hub or PC USB port" if used on a fast-charging device. OnePlus has ...
Amazon reveals its 2015 Black Friday deals
Get a taste of Newegg's Black Friday deals
'Pro Evolution Soccer' gets a free-to-play version this December
For years, FIFA and Pro Evolution Soccer have been fighting for the hearts of football fans. EA has always had the money, with authentic strips and team names, but PES players will argue that Konami's ...
Here's why you shouldn't go to the store on Black Friday
Translogic 189: 2015 LA Auto Show
Tranlsogic host Jonathon Buckely gets all the details on BMW's 330e plug-in hybrid, Honda's latest FCX Clarity hydrogen fuel cell car, the Elio Motors updated, three-wheel P5 concept, and Volvo's Concept ...
Nine months until the Rio Olympics, but the tech race has already started
Windows Defender removes potentially dangerous Dell certificate
Days after security experts identified a self-signed root certificate that could allow attackers to gain access to some Dell PCs, Microsoft is using its built-in security software to neutralize the threat.
'Interstellar,' 'Selma' and more James Bond arrive on Hulu
BBC Three to go off air and move online in February next year
The writing is well and truly on the wall: BBC Three will cease to exist as a broadcast TV channel from February next year. The plan to take BBC Three off the air and reinvent it online has been a long ...
Swytch gives businesses multiple numbers on existing mobile phones
Pepper robots are getting fashionable makeovers
Pepper, Softbank's adorable emotion-sensing robot, is rapidly becoming the victim of its own cuteness after owners began dressing it up in wacky costumes. The Wall Street Journal has found that buyers ...
U.S. Government data shows Windows 10 usage climbing as Windows 7 share drops sharply
The latest data from the massive United States Digital Analytics program shows that Windows 10 usage has climbed sharply, with older versions, including Windows 7 and Windows XP, dropping steeply. The only other desktop platform showing signs of growth is Chrome OS.
London taxis set to accept contactless payments in 2016
London's cabbies have moved one step closer to accepting credit cards and contactless payments inside their vehicles. It's about time, right? After launching a consultation earlier this year, Transport ...
ICYMI: Genetically-based cancer meds, taste's base and more
Today on In Case You Missed It: Scientists managed to turn taste on and off in mice by activating and silencing brain cells, putting to bed the notion that taste is determined by the tongue. University ...
Microsoft releases Nokia 230, its most expensive feature phone with 2MP selfie camera
How to customise your Linux desktop: Cinnamon
Is the iPad Pro a half-baked product by Apple? (Apple Byte Extra Crunchy Podcast Ep. 17)
Huawei unwraps 6-inch Mate 8 flagship phablet - running Android Marshmallow
Majority of Singapore smartphone users don't have antivirus installed
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