Daily Wealth Letter from The Wealth Forums 12 July 2016

Banking, Reports — By on July 12, 2016 at 1:12 PM
Ian Brodie

Ian Brodie

Daily Wealth letter

a daily synopsis of the wealth news that’s most relevant, timely and dependable

Compiled and edited by Ian Brodie of The Wealth Forums (www.thewealthforums.com)

NUMBER 251  TUESDAY,  JULY 12,  2016

Osborne got HSBC off criminal charges

The US government decided not to pursue criminal charges against HSBC for allowing terrorists and drug dealers to launder millions of dollars after George Osborne and the UK banking regulator intervened to warn that prosecuting Britain’s biggest bank could lead to a “global financial disaster”.  READ MORE:http://thewealthforums.com/2016/07/12/osborne-got-hsbc-off-criminal-charges/

More Chinese seek foreign investments

According to a report from China Industrial Bank and The Boston Consulting Group on Chinese private banking development in 2016, despite the slowing Chinese economic growth, the wealth of high net worth individuals is rising steadily.  READ MORE: http://thewealthforums.com/2016/07/12/chinese-seek-foreign-investments/

Credit Suisse closes Russian unit

Swiss multinational bank Credit Suisse has announced plans to shut down its private banking unit in Russia and redirect client accounts to Switzerland, according to Forbes Russia.  READ MORE:http://thewealthforums.com/2016/07/12/credit-suisse-closes-russian-unit/

The Wealth Letter is published every business day by The Wealth Forums: www.thewealthforums.com

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