Swiss banks face scrutiny over Panama Papers
ZURICH (Reuters) – Switzerland is stepping up scrutiny of its banks in response to the Panama Papers which have prompted a global outcry over allegations of tax avoidance.
Societe Generale headquarters searched in Panama probe
PARIS (Reuters) – French tax police searched Societe Generale’s headquarters this week as part of an investigation into offshore accounts revealed by the Panama Papers, the bank said on Sunday.
Italy government calls meeting Monday to finalise bank fund plan: sources
ROME (Reuters) – Italy’s largest banks will meet the Treasury and central bank on Monday to thrash out a plan to set up a state-backed fund to buy bad loans and plug capital shortfalls at its ailing banks, five sources familiar with the matter said on …
Australia’s big banks wander deeper into regulatory quagmire
SYDNEY (Reuters) – Australian banks famously rode out the 2008 financial crisis with barely a scratch, but no longer are they the exemplar of success, as a commodity rout ravages the economy and a growing storm of accusations over misconduct threatens …
TransCanada receives approval notice for Keystone pipeline restart
(Reuters) – TransCanada Corp said it received authorization from the Pipeline and Hazardous Materials Safety Administration on Saturday evening to restart the 590,000 barrel per day Keystone crude pipeline at reduced pressure.
Egypt, Saudi Arabia sign 60 billion Saudi riyal investment fund pact
CAIRO (Reuters) – Egypt and Saudi Arabia signed an agreement late on Saturday to set up a 60 billion Saudi riyal investment fund among other investment agreements including an economic free-zone to develop Egypt’s Sinai region, Egyptian state televisio…
No intruder found after search at Exxon Baytown, Texas, refinery
HOUSTON (Reuters) – A seven-hour search for a possible intruder into Exxon Mobil Corp’s Baytown, Texas, complex, which includes the nation’s second-largest crude oil refinery, yielded no results, a spokesman for the Harris County Sheriff’s Office said …
Financial turmoil at SunEdison imperils solar projects worldwide
LOS ANGELES (Reuters) – In November, solar energy giant SunEdison Inc reported that its project pipeline had grown by 75 percent in just a year, the result of an aggressive growth strategy.
IG Metall union presses Thyssenkrupp on jobs amid merger talk: paper
FRANKFURT (Reuters) – Germany’s powerful IG Metall engineering union wants jobs protected amid talk that Thyssenkrupp and India’s Tata Steel could combine their European steel operations, a union official was quoted as saying on Saturday.
French bank chief ‘more worried about sector now than in 2009’
CERNOBBIO, Italy (Reuters) – The chairman of France’s second-biggest retail bank is more worried about Europe’s banking sector now, in some ways, than when he took the reins at BPCE bank during the depths of the global financial crisis in 2009.
