BREAKING from Citi: Citigroup today announced that it has reached an agreement to settle the ongoing investigation of the Residential Mortgage-Backed Securities (RMBS) Working Group, part of the Financial Fraud Enforcement Task Force. Today’s agreement resolves actual and potential civil claims by the U.S. Department of Justice (the DOJ), several state attorneys general (State AGs), […]

REUTERS/Julien Muguet BNP Paribas Chief Executive Jean-Laurent Bonnafe For weeks there have been reports that BNP Paribas, the largest bank in France, would face a massive fine and be barred from trading in dollars for violating U.S. sanctions. Now it’s official, the bank will pay $ 8.8 billion in addition to pleading guilty to sanctions […]

AIX-EN-PROVENCE (June 23): Irish budget airline Ryanair on Monday launched an appeal of a court ruling ordering it to pay nearly nine million euros ($ 12.2 million) in damages and interest for breaching French labour laws. No official from the company was present at the hearing in the southern city of Aix-en-Provence, near where the […]

LUXEMBOURG (June 12): U.S. chipmaker Intel lost on Thursday its challenge against a record 1.06-billion-euro ($ 1.44 billion) fine handed down by European Union antitrust regulators five years ago for blocking rival Advanced Micro Devices. The European Commission in its 2009 decision said Intel tried to thwart AMD by giving rebates to PC makers Dell, […]

PARIS (June 6): France warned on Friday that a record $ 10 billion fine that the US is reportedly preparing for BNP Paribas bank for violating sanctions could hurt negotiations on a mega transatlantic trade deal. Speaking a day after French President Francois Hollande raised the issue over dinner with US leader Barack Obama, France’s […]

PARIS (June 3): France’s foreign minister on Tuesday labelled as “unreasonable” a $ 10-billion-dollar fine the US is reportedly seeking from BNP Paribas bank on charges of violating sanctions on Iran, Sudan and Cuba. In the first public comments by a senior French official on the high-profile case, Laurent Fabius said in a television interview […]

KUALA LUMPUR (May 14): DiGi.Com Bhd aims to continue improving its network quality and services, based on customers needs, chief executive officer Henrik Clausen said. He was speaking in response to a question by Minority Shareholder Watchdog Group corporate services general manager Lya Rahman, regarding the fines it had incurred from the Malaysian Communications and […]