7th January 2019
Iran’s central bank has proposed slashing four zeros from the rial, state news agency IRNA reported on Sunday, after the currency plunged in a year marked by an economic crisis fuelled by U.S. sanctions. “A bill to remove four zeros from the national currency was presented to the government by… Read More
7th January 2019
Credit Suisse has reportedly reached a deal with the New York State Attorney General’s office over misconduct allegations regarding residential mortgage-backed securities (RMBS). Prosecutors had sought billions over the case, in which the bank was accused of misrepresenting the quality of loans linked to MBS during the financial crisis. Instead,… Read More
7th January 2019
Romania will hold the six-month rotating Presidency of the European Union from 1 January to 30 June 2019. Among its goals, it seeks to address emerging security issues, terrorism and to support increased cohesion among EU member states. This is the first mandate for Romania, which is known for high-levels… Read More
7th January 2019
A powerful Iranian council approved an anti-money laundering bill on Saturday, state media reported, a major step towards reforms that would bring Iran into line with global norms and could facilitate foreign trade in the face of U.S sanctions. Iran has been trying to implement standards set by the Financial… Read More
7th January 2019
Karsten Dybvad is putting on a brave face. Danske Bank’s new chairman recently insisted that the Copenhagen-based lender did not face an “existential crisis”, despite helping clients launder up to 200 billion euros between 2007 and 2015 via a Baltic subsidiary. In 2019 that will be put to the… Read More
7th January 2019
There are “lots of indications” that some managers discussed “the reputational risks” of Deutsche Bank’s involvement in a share-trading scheme that is the subject of Germany’s biggest post-war fraud investigation, according to a conclusion in one of five internal audits seen by Reuters. The bank issued tax certificates for withholding… Read More
7th January 2019
The European Union has extended its economic sanctions targeting specific sectors of the Russian economy until 31 July 2019, citing a lack of progress in implementing an agreement over Moscow’s conflict with Ukraine. The measures, which target the financial, energy and defence sectors, and the area of dual-use goods, were… Read More
7th January 2019
AP — Fewer Marriott guest records than previously feared were compromised in a massive data breach, but the largest hotel chain in the world confirmed Friday that approximately 5.25 million unencrypted passport numbers were accessed. The compromise of those passport numbers has raised alarms among security experts because of their… Read More
7th January 2019
AP — An ethics watchdog group asked the Justice Department on Friday to investigate whether President Donald Trump’s daughter Ivanka violated federal conflict-of-interest law by promoting an Opportunity Zone tax break program from which she could potentially benefit. The complaint from the Citizens for Responsibility and… Read More
7th January 2019
The most senior bankers to face criminal charges in Britain over conduct during the financial crisis will appear before a London jury next week in a trial that will test the mettle of the Serious Fraud Office. Former Barclays (BARC.L) CEO John Varley and three one-time colleagues stand charged over… Read More