Sunday, April 19th2.2°C
25631
24291

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

24442


Recent Trending




Today's Market
S&P TSX15360.55-26.22
S&P CDNX702.85-2.74
DJIA17826.30-279.47
Nasdaq4931.81-75.98
S&P 5002081.18-23.81
CDN Dollar0.8169-0.0001
Gold1204.10+6.10
Oil56.14-0.57
Lumber245.50-9.80
Natural Gas2.641-0.043

 
Okanagan Companies
Pacific Safety0.12+0.00
Knighthawk0.010.00
QHR Technologies Inc1.40-0.01
Cantex0.035+0.005
Anavex Life Sciences0.33+0.02
Metalex Ventures0.075+0.030
Russel Metals27.48-0.23
Copper Mountain Mining1.13+0.01
Colorado Resources0.10-0.00
ReliaBrand Inc0.005+0.001
Sunrise Resources Ltd0.04-0.01
Mission Ready Services0.175-0.010
Decisive Dividend Corporation1.80+0.15

 



25733

FEATURED Property
2218779Coral Beach Lakeshore
$1,500,000
more details
image2image2image2
Click here to feature your property
Please wait... loading


Calling on your help!

Has the internet flattened prices as predicted? Has the internet created opportunities for your business to find higher priced markets further afield? Is posting prices on your website a good thing o...


Living with Plan B

“It does not do to leave a live dragon out of your calculations, if you live near him.”― J.R.R. Tolkien, The Hobbit Photo: Thinkstock.comHuman beings are optimists by nature. Whether...


Reverse mortgage solution

With the housing and financial markets on solid footing, some retired Canadians may consider cashing in their growing assets to enjoy vacations and major home renovations. Others, on the other hand, a...

_



25922

25979


Member of BC Press Council


25346