Article: This former Goldman Sachs partner is helping the startups that are killing banks right now

This former Goldman Sachs partner is helping the startups that are killing banks right now
http://www.businessinsider.com/former-goldman-sachs-partner-patrick-de-nonneville-invests-in-kantox-fx-platform-raise-11-million-series-a-2015-5

@AceFinanceNews

Ace Worldwide News Group

Article: Rolls-Royce just signed a deal with the British Army

Rolls-Royce just signed a deal with the British Army
http://uk.businessinsider.com/rolls-royce-british-army-mtu-engines-contract-2015-5

@AceFinanceNews

Ace Worldwide News Group

Headlines: ‘ FCA to make decision on mis-selling redress by summer’s end ‘

LONDON (Reuters) – Britain’s financial regulator’s view on how complaints about mis-sold loan insurance are being handled and what action it plans to take will be announced by the end of the summer, it said on Wednesday.

The Financial Conduct Authority (FCA) said in January that it would collect evidence on whether consumers mis-sold payment protection insurance (PPI) were being compensated properly and use it to assess whether the current approach was working.

It said it would consider imposing a deadline on customers claiming compensation, potentially drawing a line under the country’s costliest consumer finance scandal.

The FCA said on Wednesday that it is considering whether additional rules or guidance about PPI compensation are required after the Supreme Court ruled in November that a failure by lender Paragon Personal Finance to disclose to a client a large commission payment on the sale of a PPI policy has made the relationship between lender and borrower unfair.

Banks have so far set aside more than 26 billion pounds to compensate customers mis-sold PPI policies.

The insurance policies were meant to protect borrowers in the event of sickness or unemployment but were often sold to those who would have been ineligible to claim.

(Reporting by Matt Scuffham; Editing by David Goodman)

FCA to make decision on mis-selling redress by summer’s

@AceNewsServices

Ace Worldwide News Group

AMAZON: ‘ Declaring Revenues in EU as well as Luxembourg as Anti-Trust probe into tax affairs continues ‘

Online retailer Amazon has announced it has opened national branches in certain European countries. Previously, all revenue was recorded in Luxembourg, prompting criticism from the European Union DW.E news reported.

Deutschland Wirtschaft Versandhandel Amazon Logistikzentrum in Pforzheim

An announcement from Amazon on Tuesday indicates it will be subject to local taxes in several European countries, rather than just within the borders of its current official European base of operations in low-tax Luxembourg.

Amazon said that it would set up revenue-filing offices in Britain, Germany, Spain and Italy – and that sales in those countries would be recorded for tax purposes rather than being recorded in Luxembourg, as had been predominantly the case until May 1, when Amazon said the new offices were opened.

The company said it was also working on setting up such an office in France.

#AceFinanceNews – BRUSSELS:Jan.17:The EU commission on Friday (16 January) published details of its ongoing anti-trust case into Luxembourg’s tax deal with the global retailer Amazon, a deal secured while commission chief Jean-Claude Juncker was Luxembourg PM.

The 23-page document details the reasons why the EU commission thinks the tax deal may amount to illegal state aid as well as the complex company structure allowing it to put most profits into a non-taxable entity.

It also contains a request for Luxembourg authorities to provide more information.

Tweet UR News & Views 2 #AceBreakingNews

Ace Worldwide News Group

CItigroup: ‘ There is no longer a market ‘

tyler_normal.jpg zerohedge (@zerohedge)
25/05/2015 22:15
There Is No Longer A Market: Citigroup Confirms What Zero Hedge Has Said Since 2009 zerohedge.com/news/2015-05-2…

@AceFinanceNews

Ace Worldwide News Group

ATHENS: ‘ Greek Government names former banker to head country’s bank rescue fund ‘

#Ace​NewsReport – ​​​ATHENS:May.25: The Greek government named former banker George Michelis as chairman of the country’s bank rescue fund on Monday, which has been without a head since the resignation of both its chairman and chief executive earlier this year.

The Hellenic Financial Stability Fund (HFSF), financed by the country’s bailout package, is the rescue vehicle that recapitalised Greece’s big banks and covered the costs of winding down others deemed non-viable.

Michelis has held a series of posts in the banking industry, including CEO at Bancpost, a Romanian subsidiary of Eurobank, and chief operating officer at Egnatia Bank, where he was a founding member. He also served as the mayor of the island of Skopelos from 2011 to 2014.

The HFSF has been headless since CEO Anastasia Sakellariou was asked to resign after prosecutors ordered her to stand trial for her role in bad loans issued by defunct state lender Hellenic Postbank. Its chairman, Christos Sclavounis, stepped down in March.

(Writing for (Reuters) Deepa Babington; Editing by Pravin Char)

Former banker to head Greece’s bank bailout fund

Tweet UR News & Views 2 #AceBreakingNews

Ace Worldwide News Group

FEATURED REPORT: ‘ Chartered Communications agrees to buy Time Warner Cable Inc – Sources ‘

#Ace​FinanceNews – Featured Report -May.25:Charter Communications Inc is near an agreement to acquire Time Warner Cable Inc for $195 (126 pounds) per share in cash and stock, a person familiar with the matter said on Monday.

Charter will pay $100 per share in cash and the rest in its own stock, the person said.

The deal is expected to be announced on Tuesday, the person said, asking not be identified ahead of any official statement.

Time Warner Cable declined to comment, while Charter did not immediately respond to a request for comment.

Time Warner Cable shares closed Friday at $171.18.

Bloomberg first reported on the deal.

Read More>>> Charter nears deal for Time Warner Cable at $195 per share – sources

Tweet UR News & Views 2 #AceBreakingNews

Ace Worldwide News Group

Tweet: #AceFinanceNews – Germany’Netherlands ,Austria who will repatriate their Gold Next ‘

tyler_normal.jpg zerohedge (@zerohedge)
24/05/2015 16:47
Germany, Netherlands, Austria: who will repatriate their gold next? There are still 6000 tons of gold held in custody at the NY Fed

@AceFinanceNews

Ace Worldwide News Group

MOSCOW: ‘ Russia to adopt tough position if Ukraine defaults – PM Medvedev ‘

#AceNewsReport – Moscow:May.23: Russia would adopt a tough position if Ukraine decided not to pay off debts owed to Moscow by its previous government, Russian Prime Minister Dmitry Medvedev said in an interview broadcast by Russian TV on Saturday.

Russia has spoken out against a new Ukrainian law allowing a moratorium on foreign debt repayments, threatening to take Ukraine to court if it fails to repay $3 billion that Russia lent it in 2013.

In his interview, Medvedev called the new law “contradictory”.

Russia to adopt tough position if Ukraine defaults – PM Medvedev

Russia would adopt a tough position if Ukraine decided not to pay off debts owed to Moscow by its previous government, Russian Prime Minister Dmitry Medvedev said in an interview broadcast by Russian TV on Saturday.

@AceNewsServices

Ace Worldwide News Group

MOSCOW: ‘ Ukraine asks Russia for discounted gas price without export duty to year-end ‘

#AceFinanceNews – May.23:
Minister: Ukraine asks Russia for discounted gas price without export duty to year-end
http://linkis.com/tass.ru/en/economy/MLLFY

@AceFinanceNews

Ace Worldwide News Group