Category Archives: Finance

23Feb/15

How many times can HSBC say sorry?

(BVO) – Can it get any worse for HSBC? On this evidence probably not.

Europe’s biggest bank reporting a 17 percent drop in annual profit as a tax evasion scandal at its private banking business in Switzerland continues to deepen.
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10Feb/15

Somalian lifeline cut off by suspension of remittance services

Somalia-Remittances

China Central Television (CCTV)

Most of the major U.S. banks have ended remittance services to Somalis after new regulations were passed to stop money from getting into the hands of terrorists such as Somalia’s Al Shabaab. However, funds sent back home to Somalia are crucial for many families and businesses in a country that lacks a proper financial system from years of fighting.
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