Spain rejected on Thursday as damaging an opposition claim that the central bank is concealing problems faced by the country's banks

Spain rejected on Thursday as damaging an opposition claim that the central bank is concealing problems faced by the country's banks in ...

Standard Chartered yesterday abandoned a plan to bail out its $7.15bn (£3.68bn) structured investment vehicle

Kevin Logan, the senior US economist at Dresdner Kleinwort, said we are witnessing a chain reaction that began with rising mortgage defaults...

Credit markets were thrown into fresh turmoil as the cost of protecting the debt of US and European companies against default surged to all-time highs

Credit markets were thrown into fresh turmoil as the cost of protecting the debt of US and European companies against default surged to all-...

ACA may lose $34 billion on securities they guaranteed

U.S. bond insurers such as ACA may lose $34 billion on securities they guaranteed, Citigroup Global Markets said this month. They are likely...

bond insurer MBIA the company would no longer write guarantees using credit default swaps

The troubled bond insurer MBIA replaced its chief executive on Tuesday with its retired chairman, who said he would consider splitting up th...

My forecast is for the complete decline of the UK housing market, the complete decline of the UK economy

The British are also feeding the market. The Bank of England has ordered two official rate cuts, not back to back though. My forecast is for...

Scam or Truth, HSBC Straining Under An "Unprecedented" Wave Of Fraud Activity?

If you're an HSBC customer, check your account, as there may be a wave of fraudulent activity hitting your bank. Two days ago we wrote a...

Armageddon situation: ACA's bonds from A to CCC, a grade colloquially referred to as "junk".

"I would recommend all of you visit London and New York in the near future just to see the effect of what is really happening there,...

IKB Deutsche Industrie Bank, fearing a "bank tsunami' if the struggling lender was allowed to fail.

crisis meeting came as rumours of hefty losses in German banks rocked the credit markets. Munich lender BayernLB admitted yesterday to losse...

Spanish Costas hit by weak pound.

The pound’s weakness is having a detrimental effect on tourism.Many UK holidaymakers are shunning the Costas because of current exchange rat...

The value of A.I.G.'s portfolio of credit default swaps fell by $6 billion

The value of A.I.G.'s portfolio of credit default swaps fell by $6 billion in October and November, according to a regulatory filing. Pr...

Jerome Kerviel

Jerome Kerviel guilty or not guilty Jerome Kerviel, the 31-year-old French trader who caused a 4.9 billion euro loss for Societe Generale, w...

Costadelcouscous

Costa del Couscous. The three, all of whom have moved to Essaouira in the past year, are among tens of thousands of European citizens now m...

FINANCIAL MAGAZINE

EUROBLOGSPOT "FINANCIAL WORLDS IN EUROPE" ... Confidential financial Information Euroblogspot 24hr Newschannel ...

Subprime

Germany's finance minister Peer Steinbruck put the G7's latest estimate of subprime losses at $400bn, according to the Financial Tim...

UK payments association Apacs reports that internet banking fraud increased by almost 45 per cent between 2005 and 2006.

Mr Neate states: "25, 30 years ago the only thing you carried around with you that was important was your cheque book. Then you star...

people are increasingly using online banking to pull off cyber frauds.

k erviel was able to conceal trading of $116.8 billion in fictitious accounts — and get away without any alarms being raised because of his...

Investors are abandoning the leveraged-loan market

Investors are abandoning the leveraged-loan market just as they have with other assets in the credit markets during times of distress. In th...

700m (£521.3m) support initiative for small and medium-sized businesses

The European Commission has launched a new 700m (£521.3m) support initiative for small and medium-sized businesses as part of its strategy t...

The news just keeps getting worse. We are now told that we are nowhere close to the end of the writedowns by banks all over the world.

The news just keeps getting worse. We are now told that we are nowhere close to the end of the writedowns by banks all over the world. Goldm...

UBS’ wealth management group was one of 19 people arrested by Brazilian police in connection with an anti-money laundering investigation

A banker from UBS’ wealth management group was one of 19 people arrested by Brazilian police in connection with an anti-money laundering inv...

135 people and four French banks including already embattled Societe Generale went on trial in Paris on Monday on charges they abetted a money launder

135 people and four French banks including already embattled Societe Generale went on trial in Paris on Monday on charges they abetted a mon...

UBS is reeling from $18 billion in writedowns

Regulators have blocked an application by UBS for a banking licence in India, dealing a second significant setback to the Swiss bank in the ...

rating downgrades for bond insurers hurt by the subprime slump ``could be a tsunami-like event.''

The G-7 also pledged to act on the recommendations of the Financial Stability Forum of regulators, which yesterday proposed measures to prev...

Investors are liquidating holdings as fears about corporate and commercial property bubble set to bust as debt reached new heights in Europe

Commercial property ballon set to burst. Investors are liquidating holdings as fears about corporate and commercial property debt reached ne...

French police are looking at a second trader in connection with the trading scandal

French police are looking at a second trader in connection with the trading scandal that cost Société Générale $7.1 billion in losses. An un...

Irish Banking Crisis

Irish banks, it seems, are particularly vulnerable to changing sentiment about the state of the Irish economy. With the domestic housing mar...

Zombie Companies haunt the markets as Europe heads into recession.

“High-yield spreads, which measure the risk premium between junk-rated debt and safe government bonds, have also risen by about 100 basis po...

Attempted loan fraud worth of dozens of billions CZK.

Police in southern Bohemia detected an attempted loan fraud worth of dozens of billions CZK. The police arrested a married couple from the P...

Scotland's largest financial crime

Victims lost at least £225,000 through claims that were never met after the firm folded. Liquidators assessed its assets at just over £50,00...

Societe Generale, hit by a $7.3 billion trading scandal, has alerted the French authorities of suspected money-laundering

Societe Generale, the French banking giant hit by a $7.3 billion trading scandal, has alerted the French authorities to a case of suspected ...

disclosure order was that it was directed not to the alleged fraudster, but to the fraudster’s bank

The recent decision of Justice James Spence in Isofoton S.A. v. The Toronto-Dominion Bank should be of interest to anyone who suspects they ...

Hotellier Stanley Tollman, 77, and his wife Beatrice, 75, fighting extradition.

The US has won a partial victory in its legal battle to extradite an ex-Chelsea FC director charged over banking fraud. Hotellier Stanley To...

Fraud is now most common over the internet

Fraud is now most common over the internet, where almost 2 in 5 have fallen prey to fraudulent scams. Alarmingly, nearly 1 in 5 people have ...

credit-default swap indexes in the U.S. and Europe reached the highest in two weeks

The risk of companies defaulting rose after reports showing contraction in the U.S. service industry and a tightening of lending standards b...

10 million people may default on repayments for mortgages, credit cards or personal loans by the end of the year.

10 million people may default on repayments for mortgages, credit cards or personal loans by the end of the year. A forecast from one of Bri...

Consumer confidence in the U.K. is at the lowest in almost four years

Consumer confidence in the U.K. is at the lowest in almost four years, mortgage lender Nationwide Building Society said today, fueling conce...

Credit default swap (CDS) market predicting widespread defaults

One reason most banks have not been panicking about the growth in sub-prime debt is that there's a new instrument for hedging against de...

"You can imagine a whole swathe of internet boiler-rooms being created among people who can make more money from internet crime than herding goats,"

The OLPC XO is a toughened, stripped-down laptop weighing 1.3kg that uses a 433Mhz AMD chip, 2GB flash drive and mesh Wi-Fi to create a loca...

Serious and Organised Crime Agency (SOCA) serious lapses in security

Documents belonging to an elite crime-fighting team - including one headed 'threats to the UK' - have been discovered strewn across ...

European banks are about to report earnings, and the outlook isn't pretty.

European banks are about to report earnings, and the outlook isn't pretty. Analysts are predicting write-downs for an array of problems,...

``Softness in Europe could be happening sooner than people think,''

``Softness in Europe could be happening sooner than people think,'' said Shaw Wu, an analyst with American Technology Research in Sa...

So why did the 25 member states admit Bulgaria and Romania in 2007

So why did the 25 member states admit Bulgaria and Romania in 2007, even though most knew that the judiciaries were not independent, corrupt...

UBS's application for a banking licence in India blocked

Regulators have blocked UBS's application for a banking licence in India as the country's Finance Ministry probes an alleged $8 bill...

London is Europes hotspot for credit and debit card fraud

London is Europes hotspot for credit and debit card fraud with nearly a third of people in the capital falling victim to the crime, figures ...

United Kingdom the Surveillance Society

Organisations such as MI5 and MI6, GCHQ and the Serious Organised Crime Agency use bugging and tapping as everyday tools of their trade. But...

Britains new phone intercepts law

THE British government is considering whether to adopt Australian laws allowing intercepted private phone calls and emails to be used as evi...

José Luis Rodríguez Zapatero, has said that Spain is ‘better prepared’ than elsewhere in Europe to face the financial crisis

The Spanish Prime Minister, José Luis Rodríguez Zapatero, has said that Spain is ‘better prepared’ than elsewhere in Europe to face the fina...

Islamic investment bank in the United Kingdom.

QIB's European subsidiary, European Finance House (EFH), has received authorisation from the Financial Services Authority to operate as ...

Credit default swap (CDS) spreads to the risk-free interest rate that a bank can expect to pay in the market for 5-year loans.

Riskiest of all the major banks is HBOS, with a senior 5-year debt premium of 78 basis points (0.78% above the 5-year gilt yield of 4.3%, i....