Recent Posts

Illinois to suspend Wells Fargo from bond, investing work

Bloomberg Illinois is joining California in suspending Wells Fargo & Co. from handling “billions” of dollars in investment work and the underwriting of state debt after the company admitted to opening potentially millions of bogus customer accounts. Treasurer Michael Frerichs said in a statement the he will announce details of the ban during a news conference in Chicago on Monday. ...

Read More »

Can mobile money reduce poverty?

  Dakar / AFP When farmer Isaac Tondo fell on lean times in Liberia’s long rainy season, his brother in the capital sent 8,000 Liberian dollars (US$87) to his Lonestar mobile money account, ensuring his children’s school fees would still be paid. Across Africa more and more people — from urban start-ups to hard-up villagers — are now spending, saving ...

Read More »

France reinvents its decrepit prisons

  Rennes / AFP The ad on the French finance ministry website is deadpan and succinct: “For sale: late 19th century prison in the centre of Grasse, 1,277.42 square metres (13,750 square feet). No garage or parking space. Needs renovating.” Prospective buyers of the site in southeast France are required to lodge a deposit of 50,000 euros ($56,000). There are ...

Read More »
Send this to a friend