Egypt Unveils Suez Canal Extension
Ismailia, Egypt — In a defining moment of his young presidency, Egypt’s Abdel-Fattah el-Sissi presided Thursday over the unveiling of a major extension of the Suez Canal that he hailed as a historic feat needed to revive the country’s ailing economy after years of unrest. Upbeat and clearly relishing the pomp-filled occasion, el-Sissi nevertheless conceded that the $8.5 billion project will not bring a quick economic windfall to a...
Five Banks Admit Guilt, To Pay Fine
Washington — They called themselves the Cartel, and that turned out to be an appropriate name. Traders and sales agents used electronic chat rooms, prosecutors said, to conspire to manipulate prices in the $5 trillion-a-day foreign currency markets. They secretly marked up transaction costs, telling customers they hadn’t. “If you ain’t cheating,” said one trader at British bank Barclays Plc, “you ain’t trying.” The Justice Department,...
