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  • BUENOS AIRES, Nov 27- Argentina has charged HSBC with aiding more than 4,000 clients to evade taxes by stashing their money in secret Swiss bank accounts, the country's AFIP tax authority said on Thursday. AFIP said it received the information on the secret accounts from France, which last week placed HSBC's Swiss private banking arm under formal investigation...

  • Argentina charges HSBC with aiding tax evasion Thursday, 27 Nov 2014 | 4:06 PM ET

    BUENOS AIRES, Argentina— Argentina's tax agency charged HSBC bank Thursday with helping more than 4,000 Argentines evade taxes by placing their money in secret Swiss accounts. AFIP said it got its information from France, where HSBC was placed under formal investigation last week for possibly aiding tax evasion. AFIP charged the local branch of HSBC and its...

  • BUENOS AIRES, Nov 27- Argentina has charged HSBC with aiding more than 4,000 citizens to evade taxes by stashing their money in secret Swiss bank accounts, the country's AFIP tax authority said on Thursday. AFIP said it received the information on the secret accounts from France, which last week placed HSBC's Swiss private banking arm under formal...

  • COLUMN-How JPMorgan struck gold with copper: Andy Home Thursday, 27 Nov 2014 | 8:59 AM ET

    JPMorgan was "outed" in the media as the controlling hand, which only fuelled further the whirl of speculation, given the same bank was proposing to launch an exchange-traded fund backed by physical copper. As is always the way with such things, JPMorgan declined to confirm or deny its involvement. Now, thanks to documents submitted to the U.S. Senate subcommittee...

  • JOHANNESBURG, Nov 27- Some investors in failed South African lender African Bank Investments have received offers for its preference shares, the company said on Thursday, a possible sign of interest in the bank ahead of a planned relisting. African Bank has 13.5 million preference shares listed in Johannesburg, according to Reuters data.

  • BEIJING, Nov 27- China's central bank has drawn up plans for the introduction of an insurance system for bank deposits, and the draft rules could be announced soon, three sources with knowledge of the matter said on Thursday. China has considered insuring savers' deposits for around two decades, but the plans took on new urgency in the past year as the country sought...

  • *Loans to private sector contract 1.1 pct m/m in Oct. FRANKFURT, Nov 27- Lending to euro zone households and firms contracted further in October, keeping up pressure on the European Central Bank to deliver further stimulus measures to buoy the lacklustre 18- country economy. "The latest money supply and bank lending data are of little comfort to the ECB and hardly...

  • Banking tricks blunt China's drive to increase lending Thursday, 27 Nov 2014 | 4:16 AM ET

    SHANGHAI, Nov 27- China hopes that last week's interest rate cut will increase lending into the economy to shore up flagging growth, but measuring any rise will be impeded by a number of tricks the country's bankers use to manipulate the figures. Chinese banks, which are heavily controlled by the government, are often instructed to match their lending practice to...

  • The competition intensified as banks bet on robust demand for the currency for use in the Shanghai- Hong Kong stock connect scheme, a landmark link that gives foreign and Chinese retail investors unprecedented access to the two exchanges. "Some banks actively stored yuan funds in the past few months, but now they found demand for the currency was not as strong as...

  • WASHINGTON, Nov 26- Federal Reserve Chair Janet Yellen has said the tenor of economic data will decide when the U.S. central bank raises interest rates. But she also has placed special emphasis on a set of equations for what she dubbed in a November 2012 speech as "optimal policy" or "optimal control." Several top officials have said they are not likely to bump rates up...

  • Nov 26- Bank Leumi Le Israel BM is close to a $400 million settlement with U.S. authorities following a probe into whether it helped Americans evade taxes, Bloomberg News reported, citing a person with knowledge of the matter. Israel's second-largest lender would pay about $270 million to the Justice Department and $130 million to New York's Department of...

  • LAGOS, Nov 26- Nigeria's naira touched a record low against the dollar on Wednesday, a day after the central bank devalued the currency, complicating efforts to contain inflation before presidential elections early next year. The central bank devalued the naira by 8 percent and raised interest rates sharply on Tuesday, trying to stem losses to its foreign...

  • PRECIOUS-Gold slips as ECB stimulus talk benefits dollar Wednesday, 26 Nov 2014 | 6:02 AM ET

    LONDON, Nov 26- Gold fell on Wednesday as the dollar rose against the euro on the prospect of more stimulus from the European Central Bank, but moves remained muted as physical demand lent support. The euro eased after European Central Bank vice president Vitor Constancio said the bank will be able to gauge in the first quarter of 2015 whether it needs to start...

  • MUMBAI, Nov 26- Investors in India's markets are betting that Finance Minister Arun Jaitley will persuade a more hawkish central bank to reduce benchmark interest rates as early as next week. Finance ministry sources have told Reuters that Jaitley will urge Reserve Bank of India Governor Raghuram Rajan to cut rates at the Dec. 2 policy review, fearing that...

  • MOSCOW, Nov 26- An economic slowdown, losses in Ukraine and a weaker rouble reduced third-quarter profits by 24 percent at Sberbank, Russia's biggest bank, as provisions for loan losses more than doubled. Russia's economy is showing signs of strain as Western sanctions over the Ukraine crisis and tumbling oil prices depress growth and many of its major banks are...

  • MUMBAI, Nov 26- Investors in India's markets are betting that Finance Minister Arun Jaitley will persuade a more hawkish central bank to reduce benchmark interest rates as early as next week. Finance ministry sources have told Reuters that Jaitley will urge Reserve Bank of India Governor Raghuram Rajan to cut rates at the Dec. 2 policy review, fearing that...

  • India's state-owned bank to launch Islamic fund Wednesday, 26 Nov 2014 | 2:24 AM ET

    NEW DELHI— India's largest state-owned bank will launch an Islamic equity fund next month aimed mainly at attracting investments from the country's 170 million Muslims.The Securities and Exchange Board of India, the country's capital markets regulator, recently allowed the government-owned State Bank of India and three mutual funds to launch Shariah...

  • MOSCOW, Nov 26- Russia's top bank Sberbank posted a 24 percent fall in third-quarter net profit on Wednesday because of higher loan-loss provisions linked to an economic slowdown and the Ukraine crisis. Sberbank is one of several Russian state-controlled banks subject to Western sanctions over the Ukraine crisis that limit their access to international...

  • India's banks face obstacles in capital raising Tuesday, 25 Nov 2014 | 6:17 PM ET

    India's state-run banks face major obstacles in their plans to raise as much as $60 billion in new capital over the next few years.

  • More rate cuts for China? Let's see data first Tuesday, 25 Nov 2014 | 6:17 PM ET

    China's central bank will wait until fourth-quarter economic data is out and monitor U.S. and Japanese monetary policy before considering any more rate cuts or easing.

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