BMW is appealing a decision to impose a EUR150 million fine for alleged customs laws violations. German car giant BMW is set to face fines worth EUR100 million in India for allegations of violations committed against the country's importation rules.
Legal & Regulatory
Scandinavian banks have been called out by S&P analysts
Standard and Poor's analysts have criticized the practice of Scandinavian banks. The biggest banks of Scandinavia have failed to curb risks of financial innovation and would avoid downgrades unless national regulators requiring stricter measures, according ratings agency to Standard & Poor's.
China residency processing time for expats make things difficult for businesses
The rule increasing the processing time from five to fifteen days was met with waves of complaints as it hinders business operations.
Investors upbeat about Euro zone- survey
Sentix Research Group reported that investor sentiment in the Euro zone was positive and upbeat this month.
Monte Paschi expects approval of tougher restructuring plan on Sept 24
Monte Paschi announced that it would approve a stricter restructuring plan on September 24 to qualify for a state bailout.
Latest News
An agreement was made between EU Commission and bank officials for a capital hike for the world's oldest bank.
Allegations of anti-competitive activity would be investigated on by the European Commission. A formal statement is being prepared by the European Commission for Gazprom to inform them that allegations have been raised regarding anti-competitive gas pricing.
Italy' economy minister assures the market that Italy has no policy to oppose foreign bids for domestic enterprises.
Detroit attorneys filed their case in the US Bankruptcy Court in Detroit last Friday for the city's request for bankruptcy protection.
Foreign companies in China strengthened their compliance of laws as authorities continue their antitrust and corruption probes.
Global cruise operator Carnival Corporation & plc would be investing USD180 million from its own capital in "scrubber technology" to comply with the air emission standards of the US Environmental Protection Agency (EPA).
Reuters reported that that the ruling governments of Australia and Norway would face possible defeat in polls set for this month.
President Nursultan Nazarbayev confirmed that Kazakhstan would be inking 22 deals with China worth USD 30 billion on Saturday.
Bruce Bent and the Reserve Primary Fund management agreed to settle with their shareholders for USD 54.5 million.
