Banking
HSBC Swiss unit to pay $192 million in US tax fine
The Swiss branch of HSBC's private bank has been fined almost CHF200 million by the US Department of Justice (DoJ) for having…
Switzerland grants 18 more countries access to bank details
The Swiss parliament has approved the automatic exchange of bank data with 18 additional countries from 2021. However, Turkey failed to make…
HSBC to bring in single overdraft rate of 40% for UK customers
HSBC is to bring in a single overdraft rate of 39.9% for UK customers from March 2020, as much as quadrupling the…
Italy’s UniCredit to axe 8,000 jobs
Italian bank UniCredit said Tuesday that it set to axe around 8,000 jobs and close around 500 branches in the next few…
Commerzbank CEO calls on EU to stick to principles in face of U.S. policy
Commerzbank’s chief executive criticized the U.S. administration for unilateral dealmaking on Friday and called for Germany and Europe to “stick to our…
HSBC set to replace investment banking chief
HSBC is planning to replace the long-serving head of its investment bank ahead of a big restructuring that will result in large-scale…
Danish prosecutor charges Danske Bank for overcharging customers
Danske Bank said on Thursday it has been preliminary charged by the Danish prosecutor for overcharging customers for an investment product. Denmark’s…
HSBC cut jobs in UAE as bank look to reduce costs
HSBC Holdings has laid off about 40 bankers in the United Arab Emirates (UAE) and Emirates NBD is cutting around 100 jobs,…
Jail terms for 13 bankers over Monte Paschi scandal
Thirteen former bankers from Monte dei Paschi di Siena, Nomura and Deutsche Bank were sentenced to jail on Friday after a case…
Lebanese banks reopen for first time in two weeks
Lebanese banks opened to customers on Friday for the first time in two weeks following an unprecedented wave of protests that led…
UK will not appoint new BoE chief before December 12 election
Britain’s government will not name a successor to Bank of England Governor Mark Carney before a national election due on Dec. 12,…
UniCredit says 3 million clients hit by data breach
Italian banking giant UniCredit said Monday that around three million of its clients in Italy were affected by a data breach in…