#worldwide banking

[harrison-abbott]

In 2021, the Financial Conduct Authority (FCA) fined HSBC £63.9m for a range of proven financial crimes, including money laundering, tax avoidance and investing in known drug cartel gangs, terrorist factions and paramilitary groups.

The fine was originally intended to be £91m. But because HSBC decided to settle early rather than face a court challenge, the FCA reduced the amount.

If it had been £91 million, this would still only be a small fraction of HSBC’s overall wealth, considering that the bank is worth over $18 trillion in assets worldwide.

[canichangemyblogname]

Israel ignoring Egypt's warnings, Israel's chaotic "recovery" (a.k.a. their explicit non-recovery and bombing of hostages), and the IOF's chaotic engagement with Hamas fighters on Oct. 7th and 8th that caught hostages and civilians in crossfire should be proof enough that Israel cannot and will consistently fail to provide for the security and welfare of Jewish people. It should also be proof enough that Netanyahu's government doesn't give a shit about Israeli lives unless they can be weaponized to serve his political and regional goals.

The argument that the only way for Jewish people to have safety and comfort is through a Jewish ethnostate ignores how the violence necessary to establish an ethnostate breeds extremism and a cycle of violence. It ignores how Israel consistently fails to protect and provide for its citizens, how vulnerable the Israeli state would be without US support, and how politically and numerically insecure settler-colonial populations are without ethnic and genocidal violence to reproduce their position in the social hierarchy. This argument also allows countries in the Global North to wipe their hands of their own country's antisemitism. For them, Israel is the solution to their country's "Jewish Question."

Some of Zionism's basic assumptions about Jewish people and the need for a Jewish state come from antisemitic assumptions. Advocates for a Jewish state frequently invoke antisemitic stereotypes to make their case. Like... literal fucking fascists in the US support Zionism because they want to empty their country of Jewish people and then watch them die in Israel.

The largest group of Zionists in the US are Evangelical Christians. Not just in sheer numbers, but as a percentage of their population. And you know what they believe? They believe that all Jews need to return to the Holy Land to be massacred and raptured so Jesus can return. The majority of Zionists in the US are Zonists because they're antisemitic. Their antisemitism informs their support for Zionism, and their belief in Zionism informs their antisemitism.

It boggles me how the US government, literal fascists, and Evangelicals have so many of you legitimately believing that critiquing a man and a government that throws their lot in with Holocaust deniers is antisemitic.

There are experts out there who attest that Zionism encourages and spreads antisemitism around the globe and that it is a contributing factor to increases in antisemitism in the Global North. Some have gone so far as to say it is a literal threat to the well-being of Jews worldwide and a roadblock in the fight against antisemitism.

[kakashis-kunoichi]

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[senkuishigaymi]

THIS DETAIL????????????? CANDY JAR IN BANK TELLER?????

[dreamings-free]

Music Business Worldwide | April 25, 2023

[excerpt]

[..] Perhaps the most discussed driver behind vinyl’s rise in music biz circles, though, is the so-called “superfan”.

In a 2020 interview with The Times of London, Rob Crutchley of the UK music trade industry group BPI [167 articles]">BPI said “superfans” were powering a “buy-to-own rather than buy-to-listen” trend.

“A proportion of people are buying vinyl because they’re a superfan, so even if they don’t actually have a turntable they’re still keen to support the artist and have the artifact itself,” he said.

“Sometimes it can be because they’re catalog titles that are being re-pressed in a new edition — maybe a run on a different colored vinyl — other times it might be a new title that has a limited press on a certain format.

”In its 2023 report, Luminate defines superfans as “music listeners who spend above average (median) time AND money on music, actively discover new music, participate in music-related activities on social media, and plan on attending a live music event in the next 12 months.

”Three core behaviors set these ‘superfans’ apart from others, Luminate found:

First, they engage in social signaling (i.e., they want people around them to know about their passion for a particular genre or artist);

Secondly, they view music as an expression of their identity;

Thirdly, they engage in a community centered around music.

All of which suggests that the music industry could make serious money off of superfans’ love for vinyl in the coming years – regardless of whether or not they end up playing the format on a turntable.

[read the full article here]

[7root]

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[oxford-international-bank]

 A Comprehensive Overview on Types of Letters of Credit 

Introduction: A Letter of Credit (LC) is an essential financial instrument used to secure payment and ensure that transactions are carried out smoothly. Understanding the different types of Letters of Credit and their specific applications can help businesses choose the most suitable type for their transactions. This in-depth article explores the various types of Letters of Credit, their characteristics, uses, and benefits.

What is a Letter of Credit?

A letter of credit is a document that a bank or other financial organisation issues that assures a seller (beneficiary) that they will be paid when certain requirements are met. It functions as a guarantee that payment will be made, subject to the seller adhering to the conditions outlined in the LC, from the buyer's bank to the seller's bank.

Types of Letters of Credit

1. Revocable Letter of Credit

Characteristics:

The issuing bank reserves the right to amend or cancel this without prior notice to the beneficiary.

Less secure compared to irrevocable LCs.

Uses:

Suitable for transactions where the buyer and seller have an established and trusted relationship.

Often used in domestic transactions rather than international trade.

Benefits:

This allows the issuing bank to make changes to the terms as necessary.

Drawbacks:

Offers less security for the beneficiary as the terms can be changed unilaterally by the issuing bank.

2. Irrevocable Letter of Credit

Characteristics:

Cannot be amended or canceled without the consent of all parties involved (issuer, beneficiary, and any confirming bank).

Provides higher security compared to revocable LCs.

Uses:

Commonly used in international trade where the parties do not know each other well.

Provides a guarantee that the terms agreed upon are fixed and binding.

Benefits:

Ensures that the terms and conditions are set and cannot be changed without mutual agreement.

Drawbacks:

Less flexibility compared to revocable LCs.

3. Confirmed Letter of Credit

Characteristics:

Involves a confirming bank that adds its own guarantee to the LC issued by the original bank.

Enhances the security for the beneficiary.

Uses:

Suitable for transactions where the beneficiary is concerned about the creditworthiness of the issuing bank.

Often used in high-risk or unfamiliar trading environments.

Benefits:

Gives the beneficiary more certainty that the payment will be made.

Drawbacks:

May involve additional fees for the confirming bank’s services.

4. Standby Letter of Credit

Characteristics:

Acts as a backup payment method, ensuring payment if the buyer fails to fulfill their contractual obligations.

Serves as a guarantee rather than a primary payment method.

Uses:

Commonly used as a security measure in contracts or agreements.

Suitable for situations where a performance or payment guarantee is required.

Benefits:

Provides reassurance to the seller that payment will be made if the buyer defaults.

Drawbacks:

Typically used in conjunction with other forms of payment rather than as the primary payment method.

5. Revolving Letter of Credit

Characteristics:

Covers multiple transactions over a specified period.

Can be used for ongoing trade relationships and multiple shipments or invoices.

Uses:

Ideal for businesses with regular or repeated transactions.

Provides convenience for ongoing trade agreements.

Benefits:

Reduces the need to issue new LCs for each transaction.

Streamlines the payment process for continuous trade relationships.

Drawbacks:

May involve a more complex arrangement and higher administrative costs.

6. Sight Letter of Credit

Characteristics:

Payment is required upon presentation and verification of the necessary documents.

Offers immediate payment upon document presentation.

Uses:

Suitable for transactions where quick payment is essential.

Commonly used when the seller needs immediate cash flow.

Benefits:

Ensures prompt payment upon compliance with the terms.

Drawbacks:

May not provide as much time for the buyer to make payment arrangements.

7. Usance Letter of Credit

Characteristics:

Allows for payment to be made at a future date, typically after a specified period.

Provides extended credit terms to the buyer.

Uses:

Suitable for transactions where the buyer needs time to arrange payment.

Common in transactions where payment flexibility is required.

Benefits:

Provides the buyer with additional time to fulfill payment obligations.

Drawbacks:

Payment is delayed compared to sight LCs.

8. Red Clause Letter of Credit

Characteristics:

The beneficiary has the option to receive an advance payment prior to the shipment of the goods.

Facilitates financing for production or procurement of goods.

Uses:

Ideal for sellers who need upfront funds to produce or procure goods.

Common in industries where production financing is necessary.

Benefits:

Provides the seller with working capital before shipment.

Drawbacks:

Requires careful management of advance payments.

How to Choose the Right Type of Letter of Credit

Choosing the appropriate type of LC depends on several factors, including:

Nature of the Transaction: Consider the type of trade, whether it is one-time or ongoing, and the relationship between the buyer and seller.

Risk Level: Assess the level of risk involved in the transaction and choose a type of LC that provides adequate security.

Payment Terms: Determine whether immediate payment or extended credit terms are required.

Documentation Requirements: Ensure that the chosen LC type aligns with the documentation needs of the transaction.

Conclusion

Letters of Credit are vital instruments in international trade, offering various types to suit different needs and risk levels. Understanding the characteristics, uses, and benefits of each type of LC enables businesses to choose the most suitable option for their transactions. By leveraging Letters of Credit effectively, companies can secure payments, build trust with trading partners, and facilitate smooth and secure global trade operations.

http://oxfordinternationalbank.com

[deinbester089de]

Neue Bank?

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#C24Bank #OnlineBanking #Finanzen #Girokonto #Kredite #Sparen #FinanzLösungen #BamkingRevolution #Kundenservice

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[sohaibsmart]

Amazon Prime Day occasion begins, gross sales up 12% in first 7 hours: Report | Firm Information

Prime Day can function a bellwether for the vacation procuring season. 3 min learn Final Up to date : Jul 17 2024 | 12:10 AM IST Amazon.com Inc.’s Prime Day gross sales rose virtually 12 per cent within the first seven hours of the occasion in contrast with the identical interval final 12 months, based on Momentum Commerce, which manages 50 manufacturers in a wide range of product…

[merchant-international-bank]

https://merchantinternationalbank.com/

Title: Global Trade Finance Solutions | Merchant International Bank

Description: Comprehensive trade finance services, letters of credit, and bank guarantees. Trusted solutions for importers and exporters worldwide. Explore TradePAY today.

[jenovacomplete]

a failed update from billion-dollar cybersecurity firm crowdstrike has crashed windows machines worldwide today (july 19th 2024), leaving everything from airport terminals to checkout machines to delivery apps to banks stuck with a blue screen of death. here's a screenshot from downdetector (au) to illustrate:

the issue appears to be with crowdstrike falcon, a form of antivirus software widely used in the corporate world -- with emphasis on the world. there have been reports from the us, uk, australia, germany, india, france, japan and more. places affected include (but are not limited to) supermarkets, banks, basically every airline, public transport networks, major broadcasters, emergency services, corporate offices, healthcare providers and stock exchanges.

(woolies pic via archiestaines9 on twitter; s3pirion; akothari. yes that is masahiro sakurai of smash bros fame)

emergency service lines are currently experiencing problems within the american states of alaska, arizona, indiana, minnesota, new hampshire and ohio. similar problems likely plague other areas of the world, they just haven't been reported on yet. australian emergency services are operating, and critical infrastructure remains stable. be sure to check in with the local news stations still online for more updates.

welcome to y2k............................. 2!!!!!!!!!!!!!

[expressionless-fr]

the woman in the last reblog reminds me of my mom. so similar, it scares me. I wish people weren't so cruel.

[kakashis-kunoichi]

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[summertimetvinternational]

May_Bank_Holiday. Lets reflect on Another May Bank holiday with #celebrity_magician_Malcolm_Norton Jamie #Kiris_Oxland_Music and friends. Mal Norton Magic Trick of the week May Bank Holiday 2019 - YouTube Mal Norton Magic Trick of the week May Bank Holiday 2019 - YouTube

[lovesummertimetv]

May_Bank_Holiday. Lets reflect on Another May Bank holiday with #celebrity_magician_Malcolm_Norton Jamie #Kiris_Oxland_Music and friends. Mal Norton Magic Trick of the week May Bank Holiday 2019 - YouTube Mal Norton Magic Trick of the week May Bank Holiday 2019 - YouTube

[neoseotipsblogs]

Top Banks Worldwide 2024

The banking industry has a large and important global presence, with several financial organizations controlling trillions of dollars in assets. In this article, we will look at the world's top ten banks in 2024, providing a detailed study of their operations, financial performance, and overall impact on the global economy. By delving into the specifics of these leading banks, we can gain a deeper understanding of the modern financial landscape and how it influences our world.