Brazil and Russia’s membership of the BRICs may expire by the end of this decade if they fail to revive their flagging economies, according to Jim O’Neill, the former Goldman Sachs Group Inc. chief economist who coined the acronym.
Goldman Sachs, the Wall Street investment bank, is being sued in London for selling Libya worthless derivatives trades in 2008 that the country’s financial managers did not understand. Libya says it lost approximately $1.2 billion on … Read the rest
The orchestrated attack on bullion in the paper gold market took the spot prices of gold and silver down on Friday and Monday, but actual physical purchases rose during this period. The sales were of paper claims, not of real … Read the rest
LONDON, Feb 6 (Reuters) – Banks and trading houses have found a way to beat the ravages of economic downturn, storing millions of tonnes of metal with a business model that outsmarts new rules put in place … Read the rest