USA: ‘ CTFC IMPOSES $3 MILLION PENALTY AGAINST FUTURES TRADING COMPANY ‘

#AceFinanceNews – USA:Jan.21:The U.S. Commodity Futures Trading Commission (CFTC) issued an order filing and simultaneously settling charges against Singapore-based Olam International, Ltd., which operates a futures trading desk in London, England, and its subsidiary, Olam Americas, Inc., which is based in Summit, New Jersey and operates a futures trading desk there.
Both companies purchase, sell, and trade cocoa and other agricultural products. The CFTC Order requires Olam International and Olam Americas to pay a $3 million civil monetary penalty and prohibits them from committing future violations of the Commodity Exchange Act (CEA) and CFTC Regulations, as charged.
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IMF: ‘ DOWNGRADES GLOBAL GROWTH CITING SLOW DOWN IN THE EUROZONE ‘

#AceFinanceNews – Jan.21: The International Monetary Fund has downgraded its outlook for global growth for the second time in just three months, as it said a “shot in the arm” from tumbling oil prices would not be enough to lift countries out of their economic malaise Szu Ping Chan wrote in yesterdays Telegraph.

Ahead of the World Economic Forum in Davos, Switzerland, where world leaders gather this week to discuss challenges facing the global economy, the Fund revised down its global growth forecast to 3.5pc this year, from a projection of 3.8pc in October. Growth for 2016 was revised down to 3.7pc, from 4pc.

The IMF said weaker growth would be driven by a further slowdown in the eurozone, China, and a deep contraction in Russia, where the economy is expected to shrink by 3pc this year, from a projection of 0.5pc growth in October. The Fund believes the Russian economy, which has been hit by western sanctions in the Ukraine will shrink by 1% in 2016.

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