Tag: Finance

After $9 Billion Credit Hit, Banks Seek Trade Finance Revamp

(Bloomberg) — When Credit Agricole SA and HSBC Holdings Plc issued a payment guarantee for a $76.5 million fuel purchase from a Singapore trader in March, they unwittingly became the latest victims in a series of trade finance scandals that have led to more than $9 billion in potential losses for global lenders.

At the same time that Hin Leong Trading Pte. was pledging the fuel to back the loan, it allegedly agreed to sell the same cargo to another trader, who sought letters of credit from three banks including Credit Agricole.

This line of credit merry-go-round was among many

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Harris Poll and Yahoo Finance partner for exclusive ongoing polling of investors and publish first survey today

NEW YORK, June 29, 2020 — The Harris Poll and Yahoo Finance, part of Verizon Media, have formed a partnership to conduct an ongoing poll of investors, market and consumer trends. The surveys will be exclusive data sets for Yahoo Finance and will provide an additional stream of data-based coverage crucial to the over 80 million people who turn to the site every month for financial and business news.

“As market research experts, we understand the link between consumer sentiment and the market performance of brands,” says Will Johnson, CEO of The Harris Poll. “We’re here to help Yahoo Finance

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Harris Poll and Yahoo Finance partner for ongoing polling of investors

NEW YORK, June 29, 2020 — The Harris Poll and Yahoo Finance, part of Verizon Media, have formed an exclusive partnership to conduct an ongoing poll of investors, market and consumer trends. The new surveys will enable Yahoo Finance to provide an additional stream of data-based coverage crucial to the over 80 million people who turn to the site every month for financial and business news.

“As market research experts, we understand the link between consumer sentiment and the market performance of brands,” says Will Johnson, CEO of The Harris Poll. “We’re here to help Yahoo Finance readers see that

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German finance company Wirecard files for insolvency amid accounting scandal

German financial technology company Wirecard is filing for insolvency after an accounting scandal that led to the arrest of its former chief executive earlier this week.

The payment systems provider said it would make the filing at a district court in Munich “due to impending insolvency and over-indebtedness”.

It added in a brief statement that it is evaluating whether insolvency applications also have to be filed for its subsidiaries.

Markus Braun resigned as CEO on Friday after the company said that auditors could not find accounts containing 1.9 billion euros (£1.69 billion).

On Monday, Wirecard said it had concluded that

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TIME and Red Ventures Partner to Launch NextAdvisor, a New Site for Trusted and Accessible Personal Finance Content

Available for free, NextAdvisor will break down the fundamentals of financial wellness to help audiences navigate this period of economic uncertainty and secure their financial future

(June 22, 2020 –New York, NY and Charlotte, NC) — Today, TIME and Red Ventures launch NextAdvisor, a new personal finance site on Time.com that aims to empower audiences to make smart financial decisions and achieve their financial goals through accessible and trusted information.

NextAdvisor is a free resource that will feature time-tested strategy guides, new perspectives on the economy, analysis of the latest tools and products and reported stories that complement TIME’s editorial

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