Swedish watchdog calls Swedbank money laundering report ‘very serious’
Sweden’s financial watchdog said allegations in a media report linking Swedbank to a Baltic money laundering scandal, involving Danske Bank were “very serious” as shares in the Swedish bank tumbled on Thursday.
Danske bolsters board as U.S. expands money laundering investigation
The money laundering scandal at Danske Bank deepened on Thursday when the Danish lender said it had received an inquiry from the U.S. Securities and Exchange Commission (SEC).
Wild cats, boas are obstacles in Mexican president’s refinery race
Mexican President Andres Manuel Lopez Obrador’s race to build an oil refinery in record time on land that was until recently alive with mangrove, wild cats and boa constrictors, has run into trouble, complicating his effort to revive ailing state-oil c…
China’s central bank to keep yuan stable, maintain prudent monetary policy
China’s central bank said on Thursday that it will keep its yuan currency stable and maintain its prudent monetary policy to ensure financial stability in the world’s second-largest economy.
Canadian auto union faces Catch-22 in General Motors fight
Jerry Dias, the leader of Canada’s auto union, is unsparing in his rhetorical attacks on General Motors Co’s decision to close its Oshawa, Ontario, assembly plant and lay off thousands of union workers by year-end.
Ford’s Brazil shutdown highlights automakers’ woes with excess capacity
Ford Motor Co’s oldest factory in Brazil, slated for closure later this year, was a giant among auto plants, occupying a sprawling 12 million square feet (111.5 hectares), bigger than many of the automaker’s U.S. facilities.
PG&E extends deadline for board nominations
PG&E Corp, which filed for bankruptcy last month in the wake of potential liabilities from California’s catastrophic wildfires, on Thursday extended the deadline by which investors must file paperwork if they want to install their directors on the board.
Investor Browder to file criminal complaint against Swedbank
Bill Browder, founder and CEO of investment fund Hermitage Capital Management, intends to file a criminal complaint against Swedbank with Swedish authorities over its involvement in alleged Baltic money laundering transactions, he said on Thursday.
Exclusive: Nigeria hits oil majors with billions in back taxes
Nigeria has ordered foreign oil and gas companies to pay nearly $20 billion in taxes it says are owed to local states, industry and government sources said, in a move that could deter investment in Africa’s largest economy.
Exclusive: RWE to win EU okay to buy E.ON, Innogy renewables businesses
German utility RWE will win unconditional EU antitrust approval to buy the renewables businesses of E.ON and Innogy in a deal that will reshape the German energy market, people familiar with the matter said on Thursday.
