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EC issues fines totalling EUR1.7bn to eight banks for rigging financial benchmarks

Banks involved in a financial cartel that colluded to fix crucial benchmark rates have been levied with fines that total EUR1.7bn by the European Commission, it was reported on Wednesday. These benchmarks included … Continue reading “EC issues fines totalling EUR1.7bn to eight banks for rigging financial benchmarks”


HM Treasury announces publication of RBS Bad Bank Review

Banking and financial services company RBS Group is determined to become an asset, rather than a burden, to the UK economy, according to a statement released from HM Treasury, in which it announced … Continue reading “HM Treasury announces publication of RBS Bad Bank Review”


UK digital sports group Perform raises £120m for acquisitions

UK digital sports media company Perform Group Plc (LON:PER) announced today it will raise around GBP120m (USD183m/EUR141m) via a private placement to fund its planned purchase of Opta Sports Data Ltd and some … Continue reading “UK digital sports group Perform raises £120m for acquisitions”


Cases of serious tax evasion cases in the UK fall to lowest level in five years

Law firm Pinsent Masons reported today that cases of serious tax evasion in the UK, as established by HM Revenue & Customs (HMRC) has dropped by 16% over the past year to the … Continue reading “Cases of serious tax evasion cases in the UK fall to lowest level in five years”


Swiss private bank UBP acquires Lloyds’ international private banking arm for £100m

Swiss private bank Union Bancaire Privee UBP SA has agreed to take over UK Lloyds Banking Group plc’s (LON:LLOY) international private banking arm for up to GBP100m (USD151.7m/EUR117m) in cash, the companies said … Continue reading “Swiss private bank UBP acquires Lloyds’ international private banking arm for £100m”


Lloyds to bank £325m from sale of commercial property loans

UK Lloyds Banking Group plc (LON:LLOY) said Friday it had inked an accord to divest a portfolio of UK commercial real estate loans to Promontoria Thames Ltd for GBP325m (USD501.2m/EUR384.6m) in cash. The … Continue reading “Lloyds to bank £325m from sale of commercial property loans”


Global economy faces continued sluggish growth, according to Dun & Bradstreet

US commercial information provider Dun & Bradstreet (NYSE: DNB) said it has published a five-year forecast of the global economy predicting continued but sluggish growth against challenging headwinds, differing from region to region. D&B said … Continue reading “Global economy faces continued sluggish growth, according to Dun & Bradstreet”


HSBC sells Singapore insurance unit to AXA Life

UK financial major HSBC Holdings plc (LON:HSBA) said Wednesday that fully-controlled unit HSBC Insurance (Singapore) Pte Ltd had inked an accord to sell its group term life insurance and group medical insurance portfolios in … Continue reading “HSBC sells Singapore insurance unit to AXA Life”


Why use a foreign exchange service when buying property abroad?

Buying property abroad is a popular ambition in the UK. The option of living a life of leisure in a place that offers guaranteed sunshine, or just having a holiday home at your … Continue reading “Why use a foreign exchange service when buying property abroad?”


HM Treasury allocates £200m to Pru for UK middle market investments

The investment management unit of international financial services group Prudential Financial (NYSE: PRU), Prudential Capital Group, said that UK economics and finance ministry Her Majesty’s Treasury has allocated GBP 200m (about USD 323m) of a … Continue reading “HM Treasury allocates £200m to Pru for UK middle market investments”


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