Virgin Hyperloop One Partners With DP World To Create DP World Cargospeed DP World Cargospeed, a new global company which is a partnership between global trade enabler DP World and Virgin Hyperloop One, was launched on April 29, 2018. The company will provide hyperloop-enabled cargo systems to support the fast, sustainable and efficient delivery of palletized cargo. The first initiative
Global Reserve Currency May No Longer Be US Dollar The issue of when a global reserve currency begins or ends is not an exact science. There are no press releases announcing it, and neither are there big international conferences that end with the signing of treaties and a photo shoot. Nevertheless, we can say with confidence that the
Compliance In Trade Finance Due Diligence Companies involved in international trade have for many years used trade finance instruments as tools to manage risk when importing and exporting internationally. The trade finance deal structure, when engineered correctly, goes a long way towards ensuring that cross-border transactions are structured to protect our clients against late payments, political risk, delayed delivery,
Global Shortage Of Trade Finance Is Crushing Small Business The worldwide shortage of trade finance has reached $1.6 trillion US according to a recent study by the Asian Development Bank. A shortage of trade finance of this magnitude is having a crushing effect on small businesses worldwide, many of whom cannot find trade finance for their business. Â The International
China Fines GM $29 Million for Monopolistic Pricing BEIJING China will fine U.S. automaker General Motors Co's (GM.N) joint venture 201 million yuan ($29 million) for monopolistic pricing, state television reported on Friday, ending speculation after an official forewarned of penalties against a U.S. automaker. Shanghai's pricing regulator said that it would fine GM's venture with China's largest automaker SAIC
US Penalizes Credit Suisse and Deutsche Bank ZURICH/FRANKFURT Credit Suisse and Deutsche Bank have been hit with a combined penalty of more than $12 billion over the sale of U.S. toxic debt, further hampering two of Europe's leading investment banks as they grapple with falling profits. The penalty puts them at a further disadvantage to larger U.S. rivals. Credit
ZURICH Credit Suisse (CSGN.S) had agreed in principle to pay US authorities $2.48 billion to settle claims it misled investors in residential mortgage-backed securities it sold in the run-up to the 2008 financial crisis, the Swiss bank said on Friday. Credit Suisse will also provide $2.8 billion in consumer relief over five years from the settlement, it said in
NEW YORK/FRANKFURT Deutsche Bank has agreed to a $7.2 billion settlement with the U.S. Department of Justice over its sale and pooling of toxic mortgage securities in the run-up to the 2008 financial crisis. The agreement in principle, announced by Deutsche Bank's Frankfurt headquarters early Friday morning, offers some relief to the German lender, whose stock was hit hard
LONDON European stocks edged higher on Friday helped by banks after two regional bellwethers settled U.S. mortgage securities probes, while oil and the dollar were on the back foot in light trading ahead of the Christmas break. In another boost to European financials, a bailout for Italy's oldest bank Monte dei Paschi was approved as the country's government looks to
WASHINGTON A federal judge said on Thursday that Volkswagen AG (VOWG_p.DE) has reached an agreement in principle to provide "substantial compensation" to the owners of about 80,000 3.0-liter polluting diesel vehicles, a key hurdle to resolve the German automaker's emissions scandal. U.S. District Judge Charles Breyer did not disclose the amount of owner compensation, which is not included in a
