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10 Things You Need To Know Today

<b>Markets Are Ripping Higher</b>. Global stocks are up following dovish actions from the European Central Bank and the People's Bank of China. Dow futures are up 110 points, and S&P futures are up 12 points. In Europe, France's CAC is up 1.7%, Germany's DAX is up 1.8%, and Spain's IBEX is up 2.1%.<p><b>ECB's</b> …

Zhou Xiaochuan

HSBC Swiss private banking arm faces tax investigation

French magistrates examining whether the bank helped wealthy clients avoid a new tax, the European Union Savings Directive<p>French judges have put the Swiss branch of HSBC under official investigation over allegations that Britain’s biggest bank helped wealthy clients avoid taxes.<p>It was revealed on …

HSBC's Private Bank Hit with Tax Fraud and Money Laundering Charges in Begium

Belgian prosecutors have accused the private banking arm of HSBC of facilitating tax fraud and money laundering to the tune of hundreds of millions …

Corruption

Marks & Spencer poaches John Lewis' finance chief

LONDON (Reuters) - British retailer Marks & Spencer (MKS.L) on Monday poached John Lewis’ [JLP.UL] chief financial officer Helen Weir to be its new head of finance.<p>Weir, 52, will succeed Alan Stewart, who quit M&S in July to join Britain’s biggest retailer Tesco (TSCO.L), as chief finance officer …

Don’t expect an interest rate rise until 2016, says HSBC

A cocktail of political uncertainty, weaker inflation and an economic slowdown suggests the Bank of England will keep interest rates at their historic lows until 2016, the UK bank has said<p>The Bank of England may not increase interest rates until as least 2016 because the UK’s economic growth has …

German Bundesbank President Goes Against Europe's Plans To Stimulate Its Floundering Economy

The European economy is slowing down, and there is a danger of both a new recession and deflation across the continent. The ECB has already made money as cheap as possible for investors to borrow by holding interest rates down close to zero. QE would be the next step — a programme in which the ECB …

Mario Draghi

Property asking prices fall as keen sellers seek winter buyers

Rightmove says high prices and new mortgage lending rules have put a temporary brake on the ‘mini-boom’<p>Homeowners keen to attract buyers in the quieter winter months are asking less for the properties than those that came onto the market in October, as high prices and new mortgage lending rules …

Here's What Oil Prices Mean For 12 Stock Market Sectors

"<b>Lower oil prices typically affect companies through either (or both) lower</b> <b>input costs or increased consumer spending</b>," Goldman Sachs' David Kostin said. "We estimate that a $10 per bbl move in crude oil or $0.25/gallon move in gasoline prices impact discretionary cash flow by 30-40 bps, similar to …

Markets

BoE's Carney says may need to regulate bankers' fixed pay

SINGAPORE/LONDON (Reuters) - The Bank of England said on Monday that senior bankers’ salaries may in future be at risk if they or their staff break rules, firing a warning shot to the City after the latest dealing room scandal cost six banks $4.3 billion in fines.<p>Transcripts of currency traders …

One in five UK supermarkets needs to close for industry profit growth

Goldman Sachs analysts believe Tesco has been hardest hit by the effect of altered shopping habits and discount stores<p>Supermarket chiefs need to take drastic action by shutting one in five of their stores if the financial health of the mainstream grocery chains is to recover from the damage being …

4 New Online Money Management Tools Worth A Try

I may have found some new ways to get you out of a personal finance funk.<p>This is the gnawing feeling many of us have that we’re not managing our money well and are paying too much for 401(k)s, mutual funds, brokers and financial planners.<p>But four nascent websites and apps unveiled this week at the …