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Will Italy’s political drama spawn a new eurozone crisis? Dec 6th
LONDON – Italy is facing political upheaval after Premier Matteo Renzi said he’s resigning after a crushing defeat in a nationwide referendum. Investors, though used to political drama in Rome, are trying to gauge the impact on the country’s economy and the wider eurozone.
Some clo.... More »
As Trump unravels Dodd-Frank, Canadian banks bullish on U.S. + MORE Feb 4th
Trump administration also calls for a review of Department of Labour’s Obama-era fiduciary rule
.... More »
Canadian banks tighten credit lines to energy firms amid weak oil prices Apr 13th
Struggling oil prices stoke fears among some of Canada’s biggest lenders that debt-saddled energy companies will default on loans they can no longer afford to service
.... More »
At midday: TSX down with oil, banks fall on bond yield dip + MORE Jun 9th
Commodities end winning streaks as growth optimism ebbs
.... More »
What to Do After Your Identity is Stolen? + MORE Apr 15th
Identity theft is a global crime where your personal or financial information is stolen to commit fraud in your name. It leads to severe financial and legal struggles. Identity thieves look for any of the following information:
Full name
Social insurance number (SIN)
Driver’s license number
Home.... More »
Swiss bank Julius Baer reaches deal in principle to settle US tax dispute, sets aside $547M
– canadianbusiness.com
BERLIN – Swiss bank Julius Baer says it has reached an agreement in principle to settle a dispute over dealings with U.S. clients, and is setting aside $547.25 million to cover the costs.
Julius Baer was one of several Swiss banks that came under pressure in recent years over allegations they helped American clients cheat on taxes. The bank said Wednesday it has now reached an agreement in principle with the U.S. Attorney’s Office for the Southern District of New York. That is subject to final approval from the Department of Justice, which the bank is aiming for in the first quarter of 2016.
Julius Baer had made a preliminary provision of $350 million in June to cover a settlement, and increased that figure by $197.25 million in view of the agreement.
The post Swiss bank Julius Baer reaches deal in principle to settle US tax dispute, sets aside $547M appeared first on Canadian Business – Your Source For Business News.
Julius Baer was one of several Swiss banks that came under pressure in recent years over allegations they helped American clients cheat on taxes. The bank said Wednesday it has now reached an agreement in principle with the U.S. Attorney’s Office for the Southern District of New York. That is subject to final approval from the Department of Justice, which the bank is aiming for in the first quarter of 2016.
Julius Baer had made a preliminary provision of $350 million in June to cover a settlement, and increased that figure by $197.25 million in view of the agreement.
The post Swiss bank Julius Baer reaches deal in principle to settle US tax dispute, sets aside $547M appeared first on Canadian Business – Your Source For Business News.
China suspends forex business for some foreign banks: sources
– theglobeandmail.com
Central bank has suspended at least three foreign banks from conducting some foreign exchange business until the end of March
