American financial markets bear no relationship to reality

By Paul Craig Roberts and Dave Kranzler

As we have demonstrated in previous articles, the bullion banks (primarily JP Morgan, HSBC, ScotiaMocatta, Barclays, UBS, and Deutsche Bank), most likely acting as agents for the Federal Reserve, have been systematically forcing … Read the rest

Barclays Africa shows profits rising

BARCLAYS on Thursday reported its African banking operations showed good profit growth during the third quarter. If sustained, the bank could show earnings slightly above full-year consensus when it reports results for the 2014 financial year.

The UK parent group … Read the rest

Bank Of England leads drive for deposit confiscation

Talks under the auspices of the global Financial Stability Board (FSB) over the summer are approaching a key stage as officials aim to clinch an agreement on bail-ins and the bailing in of creditors including depositors of banks.

Finance officials … Read the rest

EU fines 8 big banks for rigging rates

jpmorganThe European Commission has slapped record fines of 1.7 billion euro on eight major banks for manipulating lending rates that play a key role in the global economy. The penalties will add to already escalating costs for leading global lenders.… Read the rest

Zim Stock Exchange falls on Mugabe win

zimbeursThe Zimbabwe Stock Exchange’s top index fell 11 percent on Monday, the first day of trading after the results of disputed elections which enabled Robert Mugabe to extend his 33-year rule.

Several foreign-owned stocks registered steep losses, with South Africa-based
Read the rest

Barclays, ABSA combine banks for ‘One Africa strategy’

Banking institutions Barclays and its subsidiary Absa are discussing combining to operate as one bank in Africa.

“This is expected to involve the combination of Barclays interests in Botswana, Ghana, Kenya, Tanzania, Uganda, Zambia and the Indian Ocean with Absa, … Read the rest