By John O'Donnell and Tom Sims FRANKFURT (Reuters) - There are "lots of indications" that some managers discussed "the reputational risks" of Deutsche Bank's involvement in a share-trading scheme that is the subject of Germany's biggest post-war fraud investigation, according to a conclusion in one of five internal audits seen by Reuters. The bank issued tax certificates for withholding tax that had never been deducted and made loans to clients to allow them to participate in the scheme to claim tax rebates, according to the audits.German prosecutors say the scheme's participants misled the government into thinking a stock had multiple owners on its dividend payday who were each owed a dividend and a tax credit, according to court documents. The authorities say the scheme, called "cum-ex" and involving several other global banks, cost the state 5.6 billion euros in rebates that should not have been paid.Deutsche Bank commissioned law firm Freshfields to write the five audits as part … [Read more...] about Audits reveal Deutsche Bank’s links to tax trade scandal
Structured trade finance products
With the full financial support of the International Islamic Trade Finance Corporation (ITFC) (www.ITFC-idb.org), member of the Islamic Development Bank Group (IsDB), Coris Bank International (CBI), a leading bank in West Africa, headquartered in Burkina Faso, has recently launched a range of Islamic financing solutions and products under its Islamic window called “Coris Baraka”. ITFC has been a key partner of Coris Bank International since 2015, following a USD9 million agreement whereby ITFC provided the bank with funding to boost the private sector of the Burkinabe economy. One major objective of the partnership was to alleviate the funding challenges of this crucial sector of the economy while contributing to job creation and income generation. This funding was essential for CBI to develop the Islamic finance window in Burkina Faso. The agreement reflected ITFC’s efforts to help the private sector in member countries gain better access to trade finance and its … [Read more...] about With International Islamic Trade Finance Corporation
TORONTO, April 10, 2018 (GLOBE NEWSWIRE) -- Kerr Mines Inc. (TSX:KER) (OTC:KERMF) (FRA:7AZ1) (“Kerr” or the “Company”) is pleased to announce the results of the independent Pre-Feasibility study (“PFS”, “Study”) and resource update prepared by Hard Rock Consulting, LLC in accordance with National Instrument 43-101 (“NI 43-101”) for its past producing Copperstone Mine in Arizona, USA. On the momentum of a very successful 2017 Phase I exploration program and this PFS, the Company is pleased to confirm updated gold resources and positive economics at the Company’s Copperstone Mine in Arizona. Copperstone PFS Highlights (all values US$ unless otherwise noted): Base case $1,250/oz gold; Initial capital of $22.7 million which includes a mine equipment capital lease; Study life operating margin (EBITDA) of $89M, Internal rate of return of 40%; Payback of initial capital within 2.3 years of 2019 production start; Recovery of … [Read more...] about Kerr Mines Releases Highlights From Pre-Feasibility Study: 40% IRR, Updated Resource and Production in 2019
Tensions between the United States and China escalated again this week as both countries issued dueling plans to impose new tariffs on imported goods. The Trump administration was first to the punch. On Tuesday evening, it proposed a plan to slap 25% tariffs on 1,300 products imported from China. The products range from industrial supplies, machinery and raw materials to consumer goods, such as dishwashers and automobile parts, according to the Office of the U.S. Trade Representative (USTR). In retaliation, China immediately announced its intention to impose 25% tariffs on $50 billion worth of U.S. exports. The list included soybeans, airplanes and automobiles, as trade experts had expected earlier. China and the U.S. have been swapping tariff threats for the past few weeks. Neither country has imposed this week's newly announced taxes yet, but it's certainly a game of global trade "chicken" that has the whole world watching. "This is very nerve-racking," said Sherman Robinson, a … [Read more...] about China and the U.S.: when should Americans worry about a trade war?
Share This Story! Let friends in your social network know what you are reading about Facebook Email Twitter Google+ LinkedIn Pinterest In escalating trade war, China targets US soybeans, beef, other goods China issues a $50 billion list of U.S. goods including soybeans, beef and aircraft for possible tariff hikes in an escalating technology dispute with Washington. Sent! A link has been sent to your friend's email address. Posted! A link has been posted to your Facebook feed. 9 Join the Conversation To find out more about Facebook commenting please read the Conversation Guidelines and FAQs Subscribe Today Log In Subscribed, but don't have a login? Activate your digital access. JOE McDONALD, Associated Press Published 6:43 a.m. CT April 4, 2018 | Updated 9:21 a.m. CT April 4, 2018 CLOSE Gov. Kim Reynolds said we need to hold China accountable, but warned about unintended consequences in the process. Rodney White/The … [Read more...] about In escalating trade war, China targets US soybeans, beef, other goods