Trading Floors Buzz With Excitement as BOJ Axes Negative Rates
One word echoed across trading floors from Tokyo to Singapore as the Bank of Japan raised rates for the first time in 17 years — ‘finally’.
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One word echoed across trading floors from Tokyo to Singapore as the Bank of Japan raised rates for the first time in 17 years — ‘finally’.
China Evergrande Group’s alleged $78 billion revenue overstatement escalates the legal peril of founder Hui Ka Yan, who now stands at the center of one of the biggest financial fraud cases in history.
Japan’s real estate shares were the biggest winners on Tuesday after a widely expected move by the Bank of Japan to end its negative rates regime, with investors focusing on the dovish tone by the central bank and the inflation outlook.
The painful decoupling offers a glimpse of what awaits both sides if the war in Gaza permanently ruptures ties.
Donald Trump lost his bid to prevent testimony from a porn star and a Playboy model at the former president’s criminal trial in New York, where he’s accused of falsifying business records related to hush-money payments before the 2016 election.
Apr 13, 2018
Reuters
,TORONTO - Canada's federal police searched the office of real estate firm Fortress Real Developments on Friday as part of an investigation into mortgage fraud, two sources with direct knowledge of the investigation told Reuters.
The Royal Canadian Mounted Police confirmed it had searched offices but declined to name the company involved.
"We can confirm that the RCMP Integrated Market Enforcement Team carried out six search warrants in the GTA (Greater Toronto Area) relating to an investigation into syndicated mortgage fraud," Royal Canadian Mounted Police Sergeant Penny Herman said.
Fortress could not immediately be reached for comment.
Ontario's financial regulator in February revoked the license of mortgage brokerage Building Development and Mortgages Canada Inc (BDMC) following an investigation into the sale of syndicated mortgage investments to fund Fortress projects. Fortress' co-founder Vince Petrozza also had his license revoked.
In a special report published in November, Reuters revealed that the Canadian province's regulator had been investigating brokers raising funds for projects associated with Fortress since 2011 but had failed to take action despite repeated warnings that the marketing of the risky investments broke provincial laws.