Featured France

Facebook’s Libra gets stark warning from G-7 finance chiefs

AP — Finance chiefs from the Group of Seven rich democracies issued a stark warning on Thursday that cryptocurrencies like the Libra digital money recently unveiled by Facebook should not be allowed before “serious regulatory and systemic concerns” are addressed. France, which this year chairs the G-7 gatherings on topics… Read More

BTA Bank Wins Sanctions Against Ex-Chairman in Theft Lawsuit

A federal judge in New York ordered former BTA Bank JSC chairman Mukhtar Ablyazov to pay the Kazakh lender’s legal fees for the discovery process after he failed to hand over evidence in a lawsuit accusing him of laundering hundreds of millions of dollars in U.S. real estate. U.S. Read More

French ex-president Hollande testified in Brazil fighter jet probe: source

Former French President Francois Hollande was questioned by police in France earlier this month as a witness in a Brazilian corruption investigation into a deal to buy combat jets, a source close to the politician said. Hollande’s predecessor Nicolas Sarkozy refused to be questioned as part of the same probe,… Read More
5th July 2019
French Finance Minister Bruno Le Maire said on Thursday he hoped a special trade channel set up with Iran would complete a first, limited transaction in the coming days. Set up by France, Britain and Germany, Instex is a barter trade mechanism that aims to avoid direct financial transfers by… Read More
3rd July 2019
French authorities are encouraging companies to conduct internal investigations when seeking to settle allegations of certain financial crimes—the latest in a series of reforms that brings the country closer to the U.S. model of corporate crime and punishment. Guidance explaining how such investigations can help companies secure negotiated settlements, released… Read More
27th June 2019
Oil services company TechnipFMC said it would pay $301.3 million to resolve anti-corruption probes with Brazilian and U.S. authorities, and added it was committed to resolving another probe on its affairs with French authorities. TechnipFMC said in a statement published late on Tuesday that it had agreed to the resolutions… Read More
25th June 2019
AP — Lamine Diack, once one of the most influential men in Olympic sport, has been ordered to stand trial in France for his alleged role in a system of corruption, extortion and doping cover-ups during his reign at the top of athletics. Diack was head of the IAAF for… Read More
24th June 2019
Three European central bankers are claiming oversight over Facebook’s planned virtual currency to ensure it will not jeopardize the financial system or be used to launder money. Facebook drew worldwide interest this week when it announced plans to introduce a cryptocurrency called Libra, part of an effort to expand into… Read More
20th June 2019
Former French President Nicolas Sarkozy on Wednesday lost his final bid to avoid standing trial on charges of corruption and influence peddling, his lawyer said. Sarkozy is accused of offering to help a judge win a promotion in Monaco in return for leaked information. The case arose after investigators tapped… Read More
19th June 2019
AP — Facebook is getting a taste of the regulatory pushback it will face as it creates a new digital currency with corporate partners. Just hours after the social media giant unveiled early plans for the Libra cryptocurrency, French Finance Minister Bruno Le Maire insisted that only governments can issue… Read More
17th June 2019
AP — Major European nations are considering imposing sanctions on Venezuela’s Nicolás Maduro and several top officials for their recent crackdown on political opponents, although divisions remain over the timing of any action for fear of derailing a negotiated exit to the country’s crisis, The Associated Press has learned. The… Read More
6th June 2019
Former French Justice Minister Rachida Dati is being probed over consulting fees she has received from the Renault-Nissan strategic partnership, France’s financial prosecutor office said on Tuesday. The preliminary investigation follows a complaint by an individual Renault shareholder against Dati, Ghosn and Bauer for corruption and misuse of company funds,… Read More
28th May 2019
The Qatari president of French soccer club Paris Saint-Germain, Nasser al-Khelaifi, is under formal investigation in France for alleged corruption related to Doha’s bid to host the athletics world championship, his lawyers said on Thursday. French financial prosecutors are looking at a $3.5 million payment made in 2011 by Qatar-based… Read More