. Energy News .




POLITICAL ECONOMY
China central bank 'looking into' Bloomberg scandal
by Staff Writers
Beijing (AFP) May 15, 2013


China's central bank, which manages the world's largest foreign exchange reserves, is looking into a growing scandal over the access journalists at Bloomberg News had to potentially sensitive data, reports said Wednesday.

The People's Bank of China (PBoC) is the latest major financial organisation to examine the controversy involving the financial news wire, whose terminals are used by officials at many of the world's most important financial institutions and banks.

Bloomberg announced Friday it was curbing reporter access to certain data on its financial terminals and apologised after reports said its journalists used the devices to access private data of Wall Street banks.

The PBoC "is aware of the situation and is looking into the matter", Dow Jones Newswires cited an unnamed source with knowledge of the bank as saying.

China's central bank oversees the management of the country's $3.4 trillion foreign exchange stockpile and is concerned any leak of its trading activities could shift the market while hurting the bank.

A PBoC spokesman declined to comment to AFP.

The US Federal Reserve said Monday it had asked Bloomberg News for information on whether its journalists were inappropriately allowed to see client data.

One report said the system allowed access to the accounts of Fed chairman Ben Bernanke and former Treasury Secretary Timothy Geithner.

The US Treasury Department was "looking into the matter", a source familiar with the matter told AFP in the US.

Institutions in other countries and jurisdictions are also becoming involved.

A spokesman for the South Korea's central bank told AFP its staff used around 40 Bloomberg terminals and it was "closely monitoring" the US Fed investigation.

"We made an inquiry to Bloomberg's Seoul office and were given an explanation that was little more than the public apology put out by the Bloomberg headquarters earlier," the spokesman added.

A spokesman for the Hong Kong Monetary Authority told AFP: "We are aware of the reported incident and we are looking into the matter."

Japan's central bank also said this week that it had contacted the company "to determine the facts".

A rival of Thomson Reuters, Bloomberg was founded by New York Mayor Michael Bloomberg, who is not involved in management due to his political activities.

Bloomberg's website is blocked in China after it reported last year that the family of Xi Jinping, the country's new president, had assets worth hundreds of millions of dollars.

.


Related Links
The Economy






Comment on this article via your Facebook, Yahoo, AOL, Hotmail login.

Share this article via these popular social media networks
del.icio.usdel.icio.us DiggDigg RedditReddit GoogleGoogle




Memory Foam Mattress Review

Newsletters :: SpaceDaily Express :: SpaceWar Express :: TerraDaily Express :: Energy Daily
XML Feeds :: Space News :: Earth News :: War News :: Solar Energy News

Get Our Free Newsletters
Space - Defense - Environment - Energy - Solar - Nuclear

...





POLITICAL ECONOMY
Walker's World: Spring in Europe
Berlin (UPI) May 13, 2013
Like the skies clearing after a storm, some small but hopeful patches of blue and even the occasional ray of sunshine are breaking through the prolonged gloom over Europe's economic prospects. The question is whether these hopeful signs last until Germany's election in September. The Bank of England is expected this week to revise upward its forecasts for economic growth this yea ... read more


POLITICAL ECONOMY
China Successfully Sends First Gaofen Satellite Into Space

ESA's next Earth Explorer satellite Will Map The Tropics

Landsat Thermal Sensor Lights Up from Volcano's Heat

Scaling up gyroscopes: From navigation to measuring the Earth's rotation

POLITICAL ECONOMY
Facebook eyes $1bn deal for GPS app Waze

Orbcomm Signs Seven New Customers In Transportation And Logistics Industry

Turn your satnav idea into business

NIST demonstrates transfer of ultraprecise time signals over a wireless optical channel

POLITICAL ECONOMY
Loss of Eastern Hemlock Will Affect Forest Water Use

US urban trees store carbon, provide billions in economic value

Forest-mapping satellite to join Earth study mission: ESA

As climate changes, boreal forests to shift north and relinquish more carbon than expected

POLITICAL ECONOMY
WELTEC BIOPOWER constructs 1.8 MW plant in Finland

UGA researchers explore how to harvest electricity directly from plants

New Advance in Biofuel Production

Researchers work to capture electrical energy from plants

POLITICAL ECONOMY
Guinea-Bissau announces first solar plant

Nano-breakthrough: Solving the case of the herringbone crystal

Solar panels as inexpensive as paint

DuPont Photovoltaic Solutions Leadership Highlights Growth, Innovation and Collaboration at SNEC China

POLITICAL ECONOMY
Scotland approves 640-foot prototype offshore wind turbine

Wind Power: TUV Rheinland Certifies HybridDrive from Winergy

UK Ministry of Defense Deems Wind Towers a National Security Threat

Wales wind power line to go underground near historic village

POLITICAL ECONOMY
Glencore Xstrata cancels coal export terminal plans

Proposed U.S. Northwest coal export project scrapped

China mine accident kills 22: state media

Australia in danger of 'carbon bubble'

POLITICAL ECONOMY
Change in China 'inevitable', says blind activist Chen

China social media hailed after official toppled

Migrant death sparks 'anti-suicide' protest in China

China academic's weibo blocked over 'rumours': Xinhua




The content herein, unless otherwise known to be public domain, are Copyright 1995-2012 - Space Media Network. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA Portal Reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. Advertising does not imply endorsement,agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. Privacy Statement