European finance ministers on Thursday agreed a draft deal on new rules for bank rescues that will only allow bailouts by taxpayers in exceptional cases and shift the burden onto bank owners, creditors and large depositors.
A Lebanese bank accused of laundering money from drugs and other operations for clients tied to Hezbollah militants agreed Tuesday to pay US authorities $102 million to settle the charges.
The deal to purchase BTA by Halyk Bank may take longer than planned; one shouldn’t rule out the possibility of Halyk Bank giving up on the idea of purchasing BTA in case Kazakhstan Government doesn’t offer concessions in terms of price.
The OECD provided ammunition Tuesday for an expected G8 offensive against tax evasion in a report outlining how to bring about automatic sharing of financial information that would shoot a hole through banking secrecy.
A massive database of private offshore banking entities that could be used for tax evasion was posted online for public use Friday by the muckraking group that first reported the files.
Paris investigators placed the French branch of Swiss bank UBS under formal investigation Friday on suspicion it helped try to persuade rich French clients to open undeclared accounts in Switzerland.
France has drawn up a blacklist of 17 countries including Switzerland that do not help investigate foreign aid fraud, banning the use of their banks to help distribute development funds.
The Bank of Japan on Wednesday held off fresh easing measures, saying after a two-day policy meeting that a continuation of steps introduced last month would help Japan overcome deflation.
Sri Lanka's central bank Friday cut benchmark lending rates by 50 basis points, saying the move was to designed to encourage growth amid sluggish economic activity this year.
Australia's central bank cut interest rates to a record low of 2.75 percent Tuesday, citing weak domestic inflation coupled with a persistently high dollar as investment in the key mining sector hits its peak.
Portugal said Friday it will take banking giants JP Morgan and Santander to court to make them renegotiate deals that have left state-run companies paying hefty interest rates.
Japan's SoftBank said Tuesday it still expects its bid to acquire Sprint Nextel will succeed on schedule in July, despite a higher counter-offer from a US firm.
