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Presented with no comment (except to note how different the "fact" in this chart is from the "fantasy" we hear spewed day after day about 'recovery' in the world's economy) ... Chart: Bloomberg

Britain's Serious Fraud Office is poised to begin its first criminal investigation of alleged rigging by traders in the foreign exchange market, the Sunday Times reported. The SFO, which is already conducting a criminal probe into the rigging of

Some analysts are again projecting that the age of higher interest rates has finally arrived. The Fed is tapering and the US economy is expanding moderately, despite a first-quarter setback. David Kotok last week wrote that the central bank’s

First it was French BNP that was punished with a $9 billion legal fee after France refused to cancel the Mistral warship shipment to Russia (which promptly led to French National Bank head Christian Noyer to warn that the days of the USD as a reserve

The European Central Bank said on Thursday its website had been hacked and some email addresses and other contact information stolen but insisted no market-sensitive data were affected. The theft came to light after the central bank received an

Not even we anticipated this particular "unintended consequence" as a result of the US multi-billion dollar fine on BNP (which France took very much to heart). Moments ago, in a lengthy interview given to French magazine Investir, none other than the

More of the same from Janet Yellen in her latest speech, but her focus on “resilience” caught my attention as it relates to very recent developments. The taper threat experience last year may have been a warning, but it doesn’t seem like it resonated

Washington can’t stop lying. Don’t be convinced by last Thursday’s job report that it is your fault if you don’t have a job. Those 288,000 jobs and 6.1% unemployment rate are more fiction than reality. In his analysis of the June Labor Data from the

Bye, bye German growth story. In less than a year, Germany — touted as Europe’s economic engine, the region’s powerhouse, etc. — could be heading toward the no-growth cliff and possibly dragging the euro zone down with it. Manufacturing is weak, it

Its been a very quiet night of trade in the currency market with the economic calendar very thin and majors tracing out narrow ranges in very lackluster dealing. Cable remained the weakest pair in G-10 as the unit continued to probe support at the

Earlier this summer, IMF bureaucrats went to Sofia, Bulgaria to study the country’s economic progress. And roughly a month ago, they released an official report which stated, among other things, that Bulgarian banks are “stable and liquid.” Talk

Steven Mandis was working on a book about whether Goldman Sachs Group Inc. (GS) put profit above principles when he hit upon a new way to make money. The former Goldman Sachs banker decided two years ago to get into lending money to struggling small

There has been an informational overload this morning, when as we reported previously, one after another bank scrambled to issue reports, some full of typos and clearly unvetted by compliance, calming the market and desperate to see all important

Update: it just got worse. Moments ago Bloomberg followed up with the second, and expected, part of this story, namely that just like China cut off major US corporations from big procurement contracts leading to a collapse in CSCO and IBM Asian

The European Central Bank's interest rates are too low for Germany, Bundesbank chief Jens Weidmann said on Saturday, adding that ECB monetary policy should remain expansive for no longer than absolutely necessary. Speaking at a Bundesbank open day

I was a profitable trader for many years and have trained many successful ( and not so successful) traders. I found the recent research about what goes on inside a trader's brain interesting — but not quite right. The findings suggest that successful

Opinion: Equities have been overvalued for some time, six gauges show U.S. stocks are overvalued — and have been for months. That is what six well-known measures of valuation show. While that doesn’t mean a bear market is imminent, there is a high

James Bullard, president of the Federal Reserve Bank of St. Louis, said the U.S. economy is improving enough to withstand an increase in short-term interest rates next year as growth picks up. “I’m starting to think the economy could tolerate at

The European Central Bank's new measures to boost growth and the inflation rate across the euro zone seem to have inspired little fresh optimism among businesses and households about the single-currency area's economic prospects. A European

Memo: From Nick Hanauer To: My Fellow Zillionaires You probably don’t know me, but like you I am one of those .01%ers, a proud and unapologetic capitalist. I have founded, co-founded and funded more than 30 companies across a range of industries—from