Saturday, November 22nd2.7°C
24157
22916

Greenpeace says rogue employee lost $5.2 million on currency hedge gone wrong

AMSTERDAM - Greenpeace International has acknowledged losing 3.8 million euros ($5.2 million) on a bet the euro would not strengthen against other currencies in 2013— but it did.

The environmental group, which is based in Amsterdam, said the money was lost by an employee who acted beyond the limits of his authority but had hoped to benefit the organization.

Greenpeace did not identify the employee, who has been fired, and added there was no evidence of fraud.

In a statement Monday, Greenpeace apologized for the blunder to supporters and donors and said it was studying what went wrong.

It said it would absorb the loss over a period of several years by trimming "infrastructure investments."

The group pledged not to reduce spending on campaigns to protect the environment.

The Canadian Press


Read more Business News

22970


Recent Trending




Today's Market
S&P TSX15111.13+35.95
S&P CDNX789.135.56
DJIA17810.0691.06
Nasdaq4712.97+11.102
S&P 5002063.50+10.75
CDN Dollar0.8901-0.0002
Gold1201.50+10.60
Oil76.72+0.87
Lumber331.50+4.50
Natural Gas4.236-0.253

 
Okanagan Companies
Pacific Safety0.155-0.005
Knighthawk0.01-0.005
QHR Technologies Inc1.30+0.03
Cantex0.04+0.005
Anavex Life Sciences0.178+0.008
Metalex Ventures0.03+0.005
Russel Metals31.62+0.82
Copper Mountain Mining2.24+0.06
Colorado Resources0.125-0.015
ReliaBrand Inc0.013-0.002
Sunrise Resources Ltd0.050.00
Mission Ready Services0.35+0.015

 
23744


24120

FEATURED Property
2142881#404 770 Rutland Rd.
2 bedrooms 2 baths
$229,900
more details
image2image2image2
Click here to feature your property
Please wait... loading


What I learned in China: Part 2

As per my previous article on my visit to China, we have much to learn about and from their people. It is potentially the largest market on earth with 1.3 billion people in one country but much will d...


Retirement: Health Issues

Our health is really our greatest asset and maintaining our health is of tremendous importance. You want to do what you can to ensure that health issues will not jeopardize the enjoyment of your retir...


Be quiet already!

No, you’re not crazy. There really are voices in your head. Voices that keep you from doing what you need to do during your customer care calls. It can be the voice of your teachers, your parent...

_



24207

24156


Member of BC Press Council


24043