The WorldCom Scandal (2002) - International Banker
WEBSep 29, 2021 — The WorldCom Scandal (2002) September 29, 2021. Coming hot on the heels of accounting scandals involving Enron and Tyco, both of which sent financial markets into tailspins, the fraud committed by WorldCom, one of the world’s biggest telecommunications companies, ended up dwarfing even those infamous crimes in terms of sheer numbers.
International Banker - Authoritative Analysis on International …
WEBSeptember 12, 2024. Many UK financial firms have incorporated artificial intelligence into their operations, but technology hasn’t finished with them yet. Quantum computing …. September 11, 2024. Artificial intelligence is gaining rapid acceptance in industries worldwide because of its productivity enhancements, and banking is no exception.
The Subprime Mortgage Crisis (2007-08) - International Banker
WEBSep 29, 2021 — The model looks sound on the surface: offer mortgages to borrowers with poorer credit ratings at higher rates. But as the US subprime mortgage crisis of 2007-08 proved, the risks associated with this strategy may override the benefits. This mortgage crisis sparked a chain of events that shook the world and ended in a global meltdown.
The Enron Scandal (2001) - International Banker
WEBSep 29, 2021 — The Enron Scandal (2001) Both of these buildings in downtown Houston, 1400 Smith Street and 1500 Louisiana Street, were formerly occupied by Enron. August 2021 marked the 20 th anniversary of arguably the most notorious corporate-accounting scandal of all time. It may not have been the biggest in dollar terms, or even the most severe in terms ...
Why Nations Are Rushing to Join BRICS+ - International Banker
WEBAug 13, 2024 — The BRICS+ alliance of mainly emerging-market countries is brimming with members and would-be members, including Malaysia. Their reasons for joining are multiple, with breaking the hegemonic stranglehold of the US-led Western economic order and escaping sanctions standing alongside economic …
Biden’s Economic Scorecard Overshadowed by the Worst US …
WEBAug 21, 2024 — And the outstanding debt balance on US credit cards has spiked from $0.77 trillion in the first quarter (Q1) of 2021 to $1.12 trillion by Q1 2024—a whopping rise of 45 percent in just three years. “Inflation is so bad that after an entire year of holding interest rates at the highest levels in 23 years, the Federal Reserve is still not ...
The Indian Rupee as International Currency
WEBSep 18, 2023 — The IMF has identified the Indian rupee (INR) as a potential international currency alongside China’s RMB (renminbi). In 2016, China’s RMB was included in the IMF’s Special Drawing Rights (SDRs) basket. Recently, the IMF raised the RMB’s weightage to 12.28 percent. Being an accepted international currency would mean the Indian rupee is ...
Mashreq Bank: Disrupting the Status Quo Through Innovation
WEBDec 7, 2023 — 928. By John Manning, International Banker. I n January, the chairman of Mashreq Bank, Mr. Abdul Aziz Al Ghurair, described 2022 as a “transformative year” for the lender. As one of the United Arab Emirates’ (UAE’s) leading banking institutions for much of the 56 years since its founding, as well as one of the oldest banks in the Middle East and North Africa (MENA), such an assessment ...
Why Soybean Prices Have Continued to Fall Throughout 2024
WEBJul 18, 2024 — For more than two years, however, soybean futures prices have been on a firm downward trajectory, declining from a near-10-year high in May 2022 of around $17.30 per bushel to below $11.00 per bushel by mid-July 2024. This trend is partly reflective of the wider bearish sentiment enveloping the grain complex this year.
The Savings and Loan Crisis (1989) - International Banker
WEBSep 29, 2021 — The US savings and loan industry thrived over the 150 years following its inception in the 1830s, using depositors’ savings to fund homebuyers’ mortgages at lower costs than banks. The model unravelled in the ‘70s and ‘80s as high inflation and interest rates chipped away at S&Ls’ profitability, until some became bankrupt—even criminal.
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