Swiss bank UBS’s French branch was put under formal investigation on Friday over allegations it tried to persuade French clients to set up undeclared bank accounts in Switzerland, a legal source said.
The EU’s six biggest members - Germany, France, Britain, Italy, Spain and Poland - have pledged to work together in the fight against tax evasion following a meeting of finance ministers in Dublin on Saturday.
An ambitious plan to tackle corruption or a panic move? François Hollande's answer to the corruption scandal that's rocked his government is a series of measures that target both politicians... and the banks where they keep their money.
An ambitious plan to tackle corruption or a panic move? François Hollande's answer to the corruption scandal that's rocked his government is a series of measures that target both politicians... and the banks where they keep their money.
Luxembourg’s finance minister on Sunday said the country will consider moves to make its banking sector more transparent in the wake of intense criticism by its eurozone partners.
A probe into the Libor rate-fixing scandal that took down the CEO of British bank Barclays has been expanded to include traders at four other banks, the Financial Times reported Thursday, including France's Crédit Agricole.
The interest rate rigging scandal continued to damage Barclays Thursday, with ratings agency Moody’s downgrading the banks ratings outlook from ‘stable’ to ‘negative’. Moody’s also highlighted concerns about, "senior resignations at the bank”.
Syrian President Bashar al-Assad apologises...to Turkey for shooting down a fighter jet. Also, Human Rights Watch investigates Syian torture centres. And there’s speculation about criminal prosecution of the Barclays bankers who rigged interest rates. For one paper that would not be enough, given the distorting effects that unconstrained power has on the brain activity of those running a virtually unregulated banking industry.
Barclays CEO Bob Diamond announced Tuesday that he was stepping down, making him the latest victim of an interest rate-fixing scandal that has already seen the British bank fined $453 million (360 million euros).
US President Barack Obama signed an order Monday for new sanctions on all Iranian financial institutions, including its central bank. The measure allows US institutions to freeze Iranian state assets instead of simply rejecting the funds.
