Zhang, a Chinese farmer set up a fake branch of one of the world’s largest banks was caught when he stopped customers withdrawing money. He created the China Construction Bank in Shandong a fake branch with card readers, passbooks and three teenage girls as bank tellers and ran for over a month and swindled thousands of…
George Osborn delivered his 7th budget as Chancellor, the first for a Conservative government since November 1996, unveils millions in tax cut but surprises with a compulsory national wage of £9 an hour by 2020. *New national living wage will be introduced for all workers aged over 25, starting at £7.20 an hour from April…
Shanghai Index and the Shenzhen composite were both down 5.8 per cent and 5.4 per cent respectively. The two indices have fallen 30 per cent since June 2015 and is destabilising the Chinese economy at a time when it shows signs of slowing down. China’s Securities Regulatory Commission said it had opened a probe into…
For the first time 2.1 million over 55s will have access to billions of pounds from today, are able to cash in on their pensions and spend them as they wish. Prime Minister David Cameron, has blown his own trumpet, that nearly 2.1 million over 55s will able to cash in all or part of…
The latest report by Wizsec, a five man security consulting firm, hints what could have happened at Mt Gox, which went bust almost a year ago saying it had lost track of 850.000 coins then worth almost $500m could have been an inside job. The bot known as willy assigned itself dozens of accounts with…
“Avoid bitcoins for Now”- Gavin Anderson On Monday, 5th January 2015, Security concerns were alarmingly raised at Bitstamp Europe’s leading bitcoin exchange, after an apparent hack that led to the company losing 19,000 bitcoins, worth £ 3.3m. This led to a sharp fall in the price of crypto currency. Bitcoin at its peak, traded for…
Blockstream was given $21 million by leading Silicon Valley investors including Sun Microsystems founder Vinod Khosla and Linkedin founder Reid Hoffman – who aims to extend Bitcoin’s functionality so it can power much more than just payments. Bitcoin, is a digital currency built upon software that uses cryptographic transactions to prevent counterfeiting without the need…
I love my parents dearly and will always be grateful for the love they’ve shown me. That’s why lying to them about how much money I make—and resisting the urge to bail them out of the financial messes they continually find themselves in—is one of the hardest things I’ve ever had to do. When I…
It’s about that time of year again when some college seniors start interviewing for jobs in finance. The interview process on Wall Street is known for being extremely nerve-wracking. We’ve heard all the interview horror stories and we’ve seen those lists of the incredibly challenging questions that get asked. Fortunately, Goldman Sachs has an excellent Careers Blog on its website, which features a…
Positive income growth for people who work in a city is an important factor in its value to prospective residents. A city that demonstrates yearly growth in the earnings of its workers provides a reassurance of its economic health and presents an opportunity for more growth in the future. Cities with significant median personal income…