In These New Times

A new paradigm for a post-imperial world

Posts Tagged ‘decline of British banks’

Barclays sued over ‘sham’ payments

Posted by seumasach on February 22, 2016

Financial Review

21st February, 2016

Barclays paid Qatari investors a total of £346 million in secret and dishonestly characterised payments as part of a “sham” to secure their participation in the bank’s 2008 emergency fundraising, a £1 billion lawsuit brought by another key investor on the deal has alleged.

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HSBC ‘taking too long to tackle financial crime’

Posted by seumasach on February 22, 2016

British banks are under fire from all sides. On one side their is threat of eurozone regulation and the planned banking union, on the other are the US regulators. Another British bank, Barclays is engulfed in scandal. Interestingly, Goldman and JPMorgan are funding the “Yes” campaign, while some major hedge-funds are backing”No”. Meanwhile the Chinese are busy constructing their alternative City in London’s Docklands.

Guardian

22nd February, 2016

HSBC is taking too long to tackle financial crime, US authorities have said, with an official monitor installed at the bank after a money-laundering scandal four years ago raising “significant concerns”.

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Posted in British economy, Uncategorized | Tagged: , , | Leave a Comment »

 
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