Featured France

France to win Britain’s finance crown in EU after Brexit – report

France will likely win Britain’s financial services crown in the European Union after Brexit, which leaves the bloc’s economy more reliant on struggling euro zone banks, New Financial think tank said on Tuesday. Brexit will most likely lead to a shift in the tone and direction of policy on EU… Read More

When the Cost of Doing Business Means Funding Terror Groups

When Lafarge, one of the world’s leading producers of building materials, acquired a cement plant in the north Syrian town of Jalabiya in 2007, it was with the hope of expanding into the Middle Eastern markets. The French company—which became LafargeHolcim after merging with a Swiss firm in 2015—spent over… Read More

Money-laundering scandals spark new risk retrenchment

Ever since the 2008 financial crisis, US financial misconduct fines have led the world.  However, defenders of Europe’s more collegiate approach to tackling banks’ money-laundering shortcomings say US banks also lead the world for de-risking, shunning some of the globe’s poorest countries from access to the dollar system. … Read More
5th September 2019
A European trade mechanism to barter humanitarian and food goods with Iran will not work until Tehran sets up a mirror company and meets international standards against money-laundering and terrorism financing, a French diplomatic source said. Britain, France and Germany, parties to a 2015 nuclear deal with Iran along with… Read More
3rd September 2019
A senior Iranian delegation arrived in Paris on Monday to work out the details of a financial bailout package that France’s president, Emmanuel Macron, intends to use to compensate Iran for oil sales lost to American sanctions. In return for the money, Iran would agree to return to compliance with… Read More
29th August 2019
A former executive at HSBC Holdings Plc’s Swiss private bank was cleared in a probe where his boss pleaded guilty to helping wealthy clients hide assets worth at least 1.6 billion euros ($1.8… Read More
28th August 2019
French authorities investigating corruption in international sports believe a Swiss partner of Japanese advertising giant Dentsu Inc played a “central and essential role” in deals used to embezzle sponsorship money and have asked Switzerland to raid its office and seize evidence, according to a person with knowledge of the probe and documents… Read More
26th August 2019
Iran’s foreign minister made a flying visit for talks with host France at the G7 summit on Sunday, as Paris ramped up efforts to ease tensions between Tehran and Washington, a dramatic diplomatic move that the White House said had surprised them. European leaders have struggled to tamp down the… Read More
21st August 2019
A former chief executive of HSBC’s Swiss unit has pleaded guilty to helping wealthy clients hide at least €1.6 million. AFP recently reported that Peter Braunwalder was fined $560,000 and received a one-year suspended sentence in France for his role in helping HSBC’s clients stash their cash. The Swiss Leaks… Read More
21st August 2019
France and Panama have signed a bilateral agreement in Panama City to create a group designed to curb tax fraud, announced Gérald Darmanin, French minister of public accounts. The move comes years after Panama was blacklisted amid the Panama Papers tax evasion scandal. “With Panama’s Minister of Economy and Finance, Hector Alexander, we… Read More
14th August 2019
Europe is gradually tightening the rules for the crypto space. A wave of new regulations are introducing stricter requirements for companies operating in the industry and cryptocurrency users are going to feel the difference in the coming months. The measures stem from the obligation of member states to transpose EU’s… Read More
8th August 2019
Italy’s tax authorities have made a request to their Swiss counterparts for information about possible tax evasion by UBS (UBSG.S) clients, Swiss newspaper Tages-Anzeiger reported on Wednesday. The Italian authorities are seeking help on Italian residents who held UBS accounts in Switzerland between 2015 and 2016 and who… Read More
8th August 2019
The former chief executive officer of HSBC Holdings Plc’s Swiss private bank pleaded guilty to helping wealthy clients hide assets worth at least 1.6 billion euros ($1.8 billion) as French prosecutors flex their muscles to tackle white-collar crime. Peter Braunwalder was fined 500,000 euros and given a one-year suspended… Read More