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Bank Gets Fined $100 Million For Having A Step By Step Guide To Sending Money To Iran And Sudan

Bank Gets Fined $100 Million For Having A Step By Step Guide To Sending Money To Iran And Sudan

View this image › Stefan Wermuth / Reuters / Reuters New York governor Andrew Cuomo announced Wednesday afternoon that Royal Bank of Scotland will pay $100 million for “violations of law in connection with transactions involving Iran, Sudan, other regimes and entities subject to international sanctions.” Several RBS employees were also dismissed from the company, […]

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J.C. Penney’s Numbers-Free Sales Update Viewed As Bad News

J.C. Penney's Numbers-Free Sales Update Viewed As Bad News

View this image › Via facebook.com Sometimes, no news is good news. But not when it comes to reports on how your company is faring, J.C. Penney learned today. The troubled retailer, which started issuing monthly performance updates in October as it works to repair its business, limited today’s holiday sales release to just three […]

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Why Banks Want To Get Their Traders Out Of Chatrooms

Why Banks Want To Get Their Traders Out Of Chatrooms

There’s been no bigger headache for bank executives, compliance officials, and lawyers than instant messaging — and no bigger goldmine for regulators and prosecutors. Small wonder then that many banks now want to get rid of the messaging. The Wall Street Journal reported Sunday that several banks, including JPMorgan Chase, the largest by assets in […]

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3 Reasons Why The Banking System Might Actually Be Safer

3 Reasons Why The Banking System Might Actually Be Safer

Coming up on the five year anniversary of the failure of Lehman Brothers and the worst of the financial crisis, has Wall Street gotten any safer for taxpayers? Anat Admati, a Stanford professor and one of the leading advocates for much stricter regulations on how much banks are allowed to borrow, best summed the opposing […]

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China’s “Singles Day” Is The World’s Hugest, Craziest Online Shopping Spree

China's "Singles Day" Is The World's Hugest, Craziest Online Shopping Spree

weibo.com weibo.com   Chinese postal workers dealing with 323 million deliveries from doorbuster online sales on 11/11. View this image › weibo.com Online retail giant TMall celebrating their record sales. When four Nanjing University students jokingly declared 11/11 a national singles day, they probably did not envision creating the biggest sales event in the world. […]

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A Short Reminder About Facebook’s Breakneck Mobile Ad Growth

A Short Reminder About Facebook's Breakneck Mobile Ad Growth

View this image › Robert Galbraith / Reuters Facebook, after not even having a real mobile ad business at the beginning of last year, is now set to take nearly a fifth of the mobile ad share this year, according to a new report. Facebook will have about a 16% share of the mobile advertising […]

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Federal Government OKs Banks Taking Marijuana Money

Federal Government OKs Banks Taking Marijuana Money

View this image › A bag of marijuana being prepared for sale sits next to a money jar at BotanaCare in Northglenn, Colo., Dec. 31, 2013. Rick Wilking / Reuters / Reuters The division of the Treasury Department that enforces rules against money laundering and other financial crimes issued guidance today to banks that clarified […]

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Warby Parker Gets Another $60 Million To Fuel Eyewear Juggernaut

Warby Parker Gets Another $60 Million To Fuel Eyewear Juggernaut

View this image › facebook.com Warby Parker just raised $60 million in its fourth round of venture capital funding, led by Tiger Global Management. A representative for the company confirmed to BuzzFeed an earlier report in Fortune about the new round but declined to provide further comment. According to Fortune, the rapidly expanding eyewear business […]

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