Warning about student ‘money mules’

25 February 2013 Last updated at 19:03 ETBy Simon Gompertz Personal finance correspondent, BBC NewsFraud experts are warning that hundreds of thousands of people are in danger of being duped into laundering money for fraudsters.They are being recruited as unwitting “money mules” who allow their own bank accounts to be used to disguise the proceeds of crime.The study was carried out by Financial Fraud...

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Warning about student ‘money mules’

25 February 2013 Last updated at 19:03 ETBy Simon Gompertz Personal finance correspondent, BBC NewsFraud experts are warning that hundreds of thousands of people are in danger of being duped into laundering money for fraudsters.They are being recruited as unwitting “money mules” who allow their own bank accounts to be used to disguise the proceeds of crime.The study was carried out by Financial Fraud...

Read More..

Warning about student ‘money mules’

25 February 2013 Last updated at 19:03 ETBy Simon Gompertz Personal finance correspondent, BBC NewsFraud experts are warning that hundreds of thousands of people are in danger of being duped into laundering money for fraudsters.They are being recruited as unwitting “money mules” who allow their own bank accounts to be used to disguise the proceeds of crime.The study was carried out by Financial Fraud...

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German Economy Min says no alternative to Italy reforms

BERLIN (Reuters) – German Economy Minister Philipp Roesler said on Tuesday he could have imagined a better outcome for pro-reform parties in Italian elections and added that the euro zone’s third largest economy needed to continue to implement reforms.“There is no alternative to the structural reforms that are already underway and which include consolidating the budget and boosting competitiveness,”...

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Egypt’s Citadel sees higher revenues from weak currency

DUBAI (Reuters) – Egypt‘s Citadel Capital hopes to raise $ 300 million from divesting non-core assets within three years, its chairman said, predicting that some of its businesses would benefit from an export boom because of the weak Egyptian pound.The pound has tumbled about 8 percent to record lows against the U.S. dollar since late December, when the central bank softened its defence of the currency,...

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Regulator raps Big Four accountants

22 February 2013 Last updated at 06:09 ETPlease turn on JavaScript. Media requires JavaScript to play. PWC’s Richard Sexton says there is no conflict of interest in auditing and being appointed by company managementBritain’s four biggest accountancy firms have been heavily criticised by the Competition Commission.The regulator has accused PWC, Ernst & Young, Deloitte and KPMG of being too dominant...

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In the Debate Over French Labor, Everyone Is Wrong

Maurice Taylor Jr., the blunt-talking chairman and chief executive officer of U.S. tiremaker Titan International (TWI), has outraged France by claiming that the country’s “so-called workers” fritter away their working days with breaks and chitchat.In a letter to French Industry Minister Arnaud Montebourg, Taylor said Titan had no interest in taking over a factory in the city of Amiens that Goodyear...

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Sony Seeks an Extra Life in the New PlayStation 4

Trinitron. Betamax. Walkman. CD. MiniDisc. PlayStation. Blu-ray.All of those things have come from Sony (SNE). Only one of them remains at all relevant. (I’ll give you a hint: It’s not the MiniDisc.)Wednesday, Sony introduced its new PlayStation 4 gaming console to the world. The last time Sony had such a major upgrade to its gaming system was November 2006, which seems like eons ago. Think about...

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Amazon Hits a Snag in Germany Over Alleged Worker Abuse

Online retailer Amazon.com (AMZN) is under attack in Germany for alleged mistreatment of its workers after a television documentary showed immigrant employees living in cramped housing under surveillance by security guards in neo-Nazi garb.Amazon on Feb. 18 said it had canceled a contract with a security company whose guards were accused of harassing workers, searching their rooms, and frisking them...

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The Price Tag for Obama’s Antipoverty Moonshot

If there was a moonshot moment in President Obama’s State of the Union speech, it involved global development. The U.S., Obama pledged, “will join with our allies to eradicate extreme poverty in the next two decades.”  Part of that effort would involve saving the world’s children from preventable deaths and “realizing the promise of an AIDS-free generation.”In one short paragraph, Obama committed...

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Japan shares up on weaker yen hopes

18 February 2013 Last updated at 02:04 ETContinue reading the main story Japanese shares have risen after finance ministers of the G20 group of nations avoided singling out Japan for criticism over the recent yen weakness.The yen has dipped nearly 15% against the US dollar since November amid Japan’s efforts to stoke inflation.There were concerns that a criticism from G20 may prompt Japan to alter...

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Al Franken’s Fanciful Post Office Fix

The U.S. Postal Service has another would-be savior: Al Franken, the U.S. senator from Minnesota and former Saturday Night Live cast member. On Thursday, he and seven Democratic colleagues introduced a bill to “modernize” the financially troubled agency, which is losing $ 25 million a day.By “modernize,” Franken and his allies mean expand the Postal Service’s operations. This is from his press release:...

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Flooding payouts broke £1bn in 2012

15 February 2013 Last updated at 06:29 ETInsurers paid out £1.19bn for flood and storm damage in the UK in 2012 – the highest annual figure for five years, an insurance trade body has said.Some 486,000 claims were made by homeowners, businesses and motorists, according to the Association of British Insurers (ABI).The average payout for flood-damaged properties was £18,200, the ABI said.Last year was...

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Tesla vs. the ‘Times’: Cars Are Now Gadgets

Late Wednesday night, Tesla Motors (TSLA) issued its much-anticipated response to a scathing New York Times review of its all-electric Model S sedan. In a blog post, Tesla Chief Executive Officer Elon Musk used data logs gathered from the car to accuse reporter John Broder of outright lies. Broder, for example, complained about freezing inside the car, since he had to turn the heating system off to...

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Now You Can Shop With a Single Tweet

This week American Express (AXP) and Twitter announced a partnership to allow people to buy things by tweeting. It works like this: You sync your Amex card to your Twitter account, and then you can start making purchases by putting hashtags in your tweets that correspond with special deals Amex is offering—today as of noon, for example, a limited supply of Kindle Fires, Xbox consoles, and special...

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Obama pledges to reignite economy

13 February 2013 Last updated at 01:45 ETPlease turn on JavaScript. Media requires JavaScript to play. President Obama: “Time for tax reform that encourages job creation”President Barack Obama has urged Congress to back government action to revive the sluggish US economy, in his annual State of the Union speech.The Democratic president promised “smarter” rather than bigger government for “the many,...

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The Chocolate Business is Losing Its Workers

This Valentine’s Day, Americans will spend a record $ 1.05 billion on chocolate and candy, according to the National Confectioners Association. But while Mamert Kablan Angora helps keep sweethearts sweet by growing cocoa on part of the 15 hectares (37 acres) of Ivory Coast land his family has farmed for generations, his 31-year-old son with the same name prefers an office job in the nation’s...

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To Cure a Hangover, Hang an IV Bag

In the words of every person who’s ever had too much to drink: Hangovers are the worst. They also cost a lot of money. The U.S. Centers for Disease Control and Prevention estimates that the economy suffers about $ 161 billion a year in lost productivity from people who are too hung over to do their jobs. People like Michael Thorns, a fundraising officer for the University of Essex, in Colchester,...

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World stocks rise as China posts big trade jump

BANGKOK (AP) — World stock markets were mostly higher Friday, boosted by better-than-expected trade data from China that provided new evidence of an upswing in the world’s second-largest economy.Exports rose 25 percent in January from a year earlier, the government reported, while imports soared 28 percent. A large part of the increase was due to companies rushing to fill orders before shutting down...

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