8th September 2017
Bulgaria has ordered an investigation after revelations by the Guardian and other media partners that Azerbaijan operated a secret $2.9bn fund to lobby influential Europeans and to funnel money offshore. Prosecutor Sotir Tsatsarov said he was launching an inquiry into Kalin Mitrev, Bulgaria’s representative to the European Bank of Reconstruction… Read More
7th September 2017
Treasury Secretary Steve Mnuchin has prepared an executive order that would allow President Donald Trump to sanction any country that continues to trade with North Korea if the United Nations doesn’t pass broad new sanctions under consideration, he said Wednesday. “I have an executive order prepared that’s ready to go… Read More
7th September 2017
Samsung Electronics Vice Chairman Jay Y. Lee has replaced his lawyer ahead of an appeal against the five-year jail term he was given for bribery and other charges, a spokesman for his law firm said on Thursday. Attorney Song Wu-cheol was replaced by Lee In-jae, a more senior representative attorney… Read More
5th September 2017
The trial of three former senior executives at Tesco accused of fraud and false accounting was adjourned on Monday until 25 September. Christopher Bush, who was managing director of Tesco UK, Carl Rogberg, who was UK finance director, and John Scouler, who was UK food commercial director, are all charged… Read More
4th September 2017
HSBC has rushed to head off complaints from small businesses that found the bank had frozen or closed down their accounts as part of a crackdown on financial crime. Hundreds of small firms are thought to be affected, whose businesses range from an avocado importer to marketing and design companies. Read More
1st September 2017
India’s government scrambled to defend its attempt to crack down on the shadow economy by banning high denomination banknotes, after data showed almost all of the abolished currency had made it back into the banking system. Prime Minister Narendra Modi personally led the shock move last November to outlaw 86… Read More
31st August 2017
The Zimbabwe Revenue Authority is making strides to increase tax evasion penalties to punish tax evaders, amid revelations the taxman is currently collecting 30% of the prospective tax revenue. Zimra board chairperson Willia Bonyongwe yesterday told delegates at an EY tax seminar that there were efforts being made to increase… Read More
31st August 2017
As regulatory crackdowns in China hit risky investment products and capital outflows, the country’s private banks are looking to profit as they target a bigger share of growing wealth in the world’s second-largest economy. Wealth managers like Noah Holdings and units of China Merchants Bank and China International Capital are… Read More
30th August 2017
The UK’s Financial Conduct Authority has launched an investigation into Mitie over its annual results and the timing of a September 2016 profit warning. The provider of pest control, cleaning and security services said on Tuesday it was informed of the probe by the Financial Conduct Authority on Friday and… Read More
29th August 2017
The US Securities and Exchange Commission issued a warning on Monday about potential internet coin offering (ICO) scams and ‘pump and dump’ schemes by public companies. The warning is aimed at alerting investors about the risks of investing in public companies that promote ICOs and deliberately ‘pump’ the prices of… Read More