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Cash Converters to pay over $12M following ASIC probe
November 9th, 2016
Following an ASIC investigation, payday lender Cash Converters will refund $10.8 million to consumers who received small amount loans under approximately 118,000 small amount credit contracts. Cash Converters has paid a $1.35 million penalty following the issuing of infringement ...
New UBS equity index ETF on S&P 500 with currency hedge launched on Xetra
November 8th, 2016
ETF provides access to 500 largest US companies A new UBS Global Asset Management equity index ETF on S&P 500 has been tradable via Xetra and Börse Frankfurt since Tuesday. ETF name: UBS (Irl) ETF plc – S&P 500 ...
M&S to close Clothing & Home business and continue to grow in Food; to close loss making shops in 10 markets
November 8th, 2016
Marks & Spencer has released today the Half Year Results for 26 Weeks Ended 1 October 2016 and Strategic Update. Summary Good progress against strategic priorities set out in May. As expected, underlying profits down in the half due ...
Deloitte executive arrested in South Korea on charges for a multibillion dollar accounting fraud
November 7th, 2016
A former Deloitte Anjin executive was detained Wednesday on charges of deliberately ignoring a multibillion dollar accounting fraud involving embattled shipyard Daewoo Shipbuilding & Marine Engineering (DSME). The Seoul Central District Court issued an arrest warrant for the former ...
Switzerland is easing its FinTech regulatory framework to boost its competitiveness
November 4th, 2016
A dynamic fintech system can contribute significantly to the quality of Switzerland’s financial centre and boost its competitiveness. Against this backdrop, the Federal Council called for an easing of the regulatory framework for providers of innovative financial technologies during ...
Trade Taxes On IT Products Falling, WTO Says
November 4th, 2016
A large majority of countries that have agreed to the newly expanded Information Technology Agreement have implemented their tariff commitments under the deal, the World Trade Organization announced on November 1. The original ITA was concluded in 1996. The ...
Commerzbank CET 1 Capital Ratio Increased to 11.8%
November 4th, 2016
Operating profit of €429 m for third quarter 2016 compared to €351 m for second quarter 2016 (Q3 2015: €452 m) CET 1 capital ratio increased to 11.8% as of end of September 2016 (end of June 2016: 11.5%; ...
Credit Suisse posts positive results for 3Q 2016
November 3rd, 2016
Group reported PTI of CHF 222 million, up 12% compared to 2Q16 Group adjusted* PTI of CHF 327 million, up 13% compared to 2Q16 Combined reported PTI of CHF 1,155 million (adjusted* CHF 847 million) for APAC, SUB and IWM Adjusted* ...
China passed a new law for people be safe from legal liabilities when helping strangers
November 3rd, 2016
First aid providers in Shanghai will be shielded from legal liability when giving emergency assistance, under a new law that took effect yesterday to encourage the public to be more active in assisting in emergencies. The regulation, passed by ...
UBS to cut several dozen wealth management jobs: sources
November 2nd, 2016
UBS will cut several dozen jobs at part of its private bank, three sources familiar with the matter told Reuters, part of a previously announced organizational restructure. The Swiss bank told staff in May it was rejigging its flagship ...
