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Swiss insurer Helvetia expands into UK market

Helvetia Global Solutions has received confirmation from UK regulators that its authorization to underwrite non-life insurance business in the UK has been approved and...

French supermarket chain Carrefour sticks price warnings on food to shame suppliers

French grocery chain Carrefour has started to add warning labels on products that have changed due to “shrinkflation” — a phenomenon where manufacturers reduce...

McDonald’s leaves Russia for good, cites risky operating environment

After more than 30 years of operation in the country McDonald’s, the first US fast-food restaurant to open in the Soviet Union, is about...

Deutsche Bank HQ searched over suspicious money laundering investigation

Officers from the financial regulator BaFin, the federal police, and the Frankfurt public prosecutor’s office launched a raid on the bank’s headquarters on Friday...

French reinsurer SCOR sues Covea over ditched takeover bid

Paris-based reinsurer SCOR is taking legal actions against French peer Covea, after the latter issued a press release stating it is pulling away from...

EU seeks tougher scrutiny over Huawei 5G cyber security risks

The European Union (EU) is worried about potential cyber security risks from Chinese technology companies. Several members are concerned with China’s behaviour in the...

Deutsche Bank settles €4m ‘Cum-Ex’ fraud investigation

Deutsche Bank settled a €4 million fraud investigation with German public prosecutors for its role in helping clients carry out dubious tax deals, Bloomberg...

Moody’s downgrades Italy credit ratings on budget deficits concerns

Italy appears to be in the midst of another major financial crisis as Moody’s cut its credit ratings from “Baa2” to “Baa3”, one level...

Danske Bank scandal exposes money laundering risk

Financial institutions are at greater risk for money laundering losses than ever before. The Danske Bank scandal reveals that even institutions in law-abiding nations...

Deutsche Bank moves euro clearing operations as Brexit risks mount

Germany’s biggest bank, Deutsche Bank has shifted an important part of its euro clearing business to Frankfurt from London due to Brexit. The move...