Argentina has vowed to take legal action against any company that wishes to conduct oil exploratory activities off the disputed Falkland Islands, claimed a report by Reuters on Thursday, as tensions continue to build between the South American country and the UK over the region’s sovereignty.
Studies suggest that people who are socially and financially better off are more likely to cheat, lie and behave unethically. How prevalent, and how true is this?
The more they receive, the less they give. At least that is what studies have found when examining the differences in financial habits and social behaviours between households with high and low income.
China’s fifth largest bank, the Bank of Communications Co (BoCom), plans to sell up to 56.6 billion yuan ($8.9 billion) of its shares to 12 institutional investors – including the Chinese Ministry of Finance and HSBC Holdings – in what will be the world’s biggest private share sale since May 2011.
The publicly listed bank said that the move was intended to replenish its capital base, with the bank unlikely to seek further capital investment input for the next three to four years at least.
The Korea-U.S. free trade agreement, first signed in 2007, has come into effect with the leaders of both countries calling it a good economic model that will help boost the strategic partnership between the two sides. However, activists are worried that South Korea’s agriculture and services industry might be compromised with the trade pact.
Chinese Premier Wen Jiabao has said that the yuan is reaching its equilibrium peak, hinting that there would not be further appreciation of the currency, much to the dismay of the United States.
Speaking at the closing of the 2012 National People’s Congress, also the Premier’s last address before he steps down, Wen suggested that the rise of the yuan has ended.
Referring to the yuan’s 30 percent real gains over the last 7 years, Wen said:
The Office for National Statistics (ONS), UK’s official statistics agency, have included the popular “Twilight” teenage fiction book series, along with the Apple iPad, to its baskets of goods used to calculate the rate of inflation in the country.
An executive director at Goldman Sachs’ London office has criticised his employers’ “toxic and destructive” culture as the primary reason for his resignation from the company, in a damning letter published in the New York Times on Wednesday.
U.K. Chancellor George Osborne says Britain could start selling 100-year bonds as the country tries to reduce the government’s long term debt costs.
The Debt Management Office said that initial talks with investors were positive, and the perpetual ‘century’ bonds will mean that the long-term cost of servicing part of Britain’s debt would remain at the current record low interest rates for a significantly long period of time.
The Securities and Exchange Commission has charged five individuals for acting on insider information alleged to be illegally obtained from an Alcoholics Anonymous meeting.
According to the complaint, 5 individuals are said to be involved in unlawful insider trading in the common stock of Philadelphia Consolidated, a Pennsylvania-based insurance holding company.
Encyclopaedia Britannica, the oldest continuously published English-language encyclopaedia in the world, has ceased publication of its iconic 32-volume book set on print in favour of a digital-only model that already pulls more than fifteen times the revenue of its print edition.
The president of Britannica, Jorge Cauz, announced the decision on Tuesday, after calling it a natural part of the company’s evolution following more than 244 years of the book set on print.
