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....Even that was not the full story, the overstatement was subsequently revised up to £326m. The compensation order is a first for the FCA, although it has not imposed its own penalty, and Tesco has accepted the regulator's finding of "market abuse". ... [Read full article on BBC ]
Tuesday 28th of March 2017 06:35:26 AM
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....Sir James Dyson, the billionaire investor, has played down concerns that a “hard Brexit” could harm the UK economy by claiming that World Trade Organisation tariffs have not prevented his technology company from achieving record financial results. Dyson said that WTO tariffs – which range from 5% to 10% – had “not held us back at all” and were a “tiny penalty to pay” for trading with Europe. ... [Read full article on Guardian ]
Monday 27th of March 2017 05:00:00 AM
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. BT has been fined £42m, the largest penalty imposed by regulator Ofcom, and will have to pay an estimated £300m in compensation to rival telecoms companies over delays installing high-speed internet connections. ... [Read full article on Guardian ]
Monday 27th of March 2017 03:54:47 AM
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....25% a year for institutional investors, or 4% a year for retail investors. Auditor KPMG has been appointed to administer the compensation scheme with oversight from the FCA, which has not imposed a penalty on Tesco. ... [Read full article on Guardian ]
Tuesday 28th of March 2017 07:16:54 AM
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....The Serious Fraud Office and Tesco are within days of announcing a settlement that could mean Britain’s biggest supermarket chain will pay a multimillion-pound fine over an accounting scandal. Under the deferred prosecution agreement (DPA), Tesco would pay a penalty that could be well over £100m and agree to other conditions in return for avoiding formal prosecution for overstating its profits. ... [Read full article on Guardian ]
Monday 27th of March 2017 05:46:01 PM
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....4bn litres of untreated sewage into the Thames and on riverside land in 2013 and 2014. At 4% of £500m pre-tax profits, this was a slightly larger penalty. ... [Read full article on Guardian ]
Monday 27th of March 2017 05:04:11 PM
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Latest Finance News related to Penalty

Tesco to pay £129m fine over accounting scandal image
Source : Guardian [Read Article] Tuesday 28th of March 2017 07:16:54 AM
....25% a year for institutional investors, or 4% a year for retail investors. Auditor KPMG has been appointed to administer the compensation scheme with oversight from the FCA, which has not imposed a penalty on Tesco. ...
Tesco fined £129m for overstating profits image
Source : BBC [Read Article] Tuesday 28th of March 2017 06:35:26 AM
....Even that was not the full story, the overstatement was subsequently revised up to £326m. The compensation order is a first for the FCA, although it has not imposed its own penalty, and Tesco has accepted the regulator's finding of "market abuse". ...
Tesco and Serious Fraud Office near to deal over accounting scandal image
Source : Guardian [Read Article] Monday 27th of March 2017 05:46:01 PM
....The Serious Fraud Office and Tesco are within days of announcing a settlement that could mean Britain’s biggest supermarket chain will pay a multimillion-pound fine over an accounting scandal. Under the deferred prosecution agreement (DPA), Tesco would pay a penalty that could be well over £100m and agree to other conditions in return for avoiding formal prosecution for overstating its profits. ...
Is being fined 1% of its profits just a mild irritation for BT? It looks like it | Stefan Stern image
....4bn litres of untreated sewage into the Thames and on riverside land in 2013 and 2014. At 4% of £500m pre-tax profits, this was a slightly larger penalty. ...
Dyson plays down hard Brexit concerns as company posts £2.5bn record sales image
....Sir James Dyson, the billionaire investor, has played down concerns that a “hard Brexit” could harm the UK economy by claiming that World Trade Organisation tariffs have not prevented his technology company from achieving record financial results. Dyson said that WTO tariffs – which range from 5% to 10% – had “not held us back at all” and were a “tiny penalty to pay” for trading with Europe. ...
BT fined £42m over delays to high-speed cable installation image
Source : Guardian [Read Article] Monday 27th of March 2017 03:54:47 AM
. BT has been fined £42m, the largest penalty imposed by regulator Ofcom, and will have to pay an estimated £300m in compensation to rival telecoms companies over delays installing high-speed internet connections. ...
The Trump bump for shares is dented – but watch where the oil price goes | Nils Pratley image
.... But if he thinks a £20. 3m penalty will impress Thames shareholders – a crew of infrastructure and sovereign wealth funds who have done splendidly over their decade of ownership – he needs to raise his sights. ...
Call to give fathers allocated leave to improve uptake image
Source : Guardian [Read Article] Wednesday 22nd of March 2017 06:23:33 PM
....The inquiry comes after the 2017 Modern Families Index found that more than half of millennial fathers want to be demoted into a less stressful job in order to be a better parent. It also warned of a “fatherhood penalty” for men who want to be more involved in the upbringing of their children, with 44% admitting to lying to their employer about family-related responsibilities that “get in the way” of work. ...
Now you can forget your railcard (once) without being charged a fortune image
Source : Guardian [Read Article] Wednesday 22nd of March 2017 04:13:36 PM
....A stony-faced inspector approaches, and passengers fumble in panic for their train tickets. It’s an everyday experience on Britain’s trains, but one disabled traveller’s battle over an extraordinary £400 “penalty” after failing to show his railcard has played its part in forcing overzealous inspectors to backtrack. ...
Thames Water fined £20m for sewage spill image
Source : BBC [Read Article] Wednesday 22nd of March 2017 12:40:05 PM
....The £20. 3m fine is the largest penalty handed down to a water utility for an environmental disaster. ...
Thames Water hit with record £20m fine for huge sewage leaks image
Source : Guardian [Read Article] Wednesday 22nd of March 2017 11:49:38 AM
....”. The previous record fine was the £2m penalty imposed on Southern Water in December for flooding beaches in Kent with raw sewage, which left them closed to the public for nine days. ...
Eight tax changes savers should watch out for from April 2017 image
Source : Daily Express [Read Article] Tuesday 21st of March 2017 01:47:00 PM
.... . “Your money may be withdrawn penalty free to purchase your first home costing up to £450,000, or withdrawn after age 60 to use in retirement. ...
Google and Facebook now paying full tax, Australia says image
Source : BBC [Read Article] Tuesday 21st of March 2017 08:36:40 AM
....A new law targets global companies with annual incomes of more than A$1bn. Firms were told if they did not pay what was due they would be taxed at a penalty rate of 40%. ...
Deutsche Bank cuts staff bonuses image
Source : BBC [Read Article] Monday 20th of March 2017 09:25:46 AM
....In the final three months of 2016 alone the bank lost 1. 9bn euros, mainly thanks to a record penalty in the US. ...
Five-minute guide to…The resurgence of first-time buyers image
Source : Daily Express [Read Article] Sunday 19th of March 2017 12:01:00 AM
....Before age 60, the savings can be used only as a deposit towards a home costing up to £250,000 or £450,000 in London. Withdrawals for any other reason will be penalised, though it can be taken penalty-free after 60. ...
An automated world is coming but can we make sure no-one is left behind? | Greg Jericho image
....So automation might be a future with more output but fewer jobs. So what to do? And what good is cutting penalty rates to lower costs for people working in takeaway shops when a robot is able to cook and wrap a burger (along with any other job that was once considered safe from automation because it was seen as a service)?. ...
Interest-only mortgage deals: Bank to help 100,000s borrowers with new change image
Source : Daily Express [Read Article] Wednesday 15th of March 2017 02:15:00 PM
....25 per cent. Customers will also be able to make additional payments to their mortgage without penalty, or repay their mortgage in full at any time. ...
Christian Candy's finance chief denies 'good cop, bad cop' game image
Source : Guardian [Read Article] Tuesday 14th of March 2017 05:51:04 PM
.... “Mark actually said he was going to make the payment . It was Mark who suggested that it was a penalty. ...
Savers and Pensions: How the Chancellor's spring BUDGET plans can affect you  image
Source : Daily Express [Read Article] Sunday 12th of March 2017 03:23:00 PM
....The money can be used only as a deposit on your fi rst-ever home, which cannot cost more than £250,000, or £450,000 in London. Savers who draw money before age 60 for any other reason will pay a stinging 25 per cent penalty. ...
Doubts over new 'leading' savings deal announced in Budget image
Source : BBC [Read Article] Friday 10th of March 2017 10:37:00 AM
....Savers are expected to lock in their money for three years. Anyone accessing their money early will be charged a penalty equal to 90 days' interest on the amount cashed in. ...
RBS awards nearly £16m of bonuses in shares to nine top executives image
Source : Guardian [Read Article] Wednesday 8th of March 2017 06:57:42 PM
.... He was also awarded nearly £3m in shares that he will start to receive from 2021, provided performance criteria are reached. Hammond has said he will not be able to sell any RBS shares while the bank awaits a penalty from the US Department of Justice for mis-selling toxic bonds in the run-up to the financial crisis and fights with Brussels over the sale of 300 branches mandated at the time of its bailout. ...
DPD and Parcelforce face MPs' questions over working conditions image
Source : Guardian [Read Article] Wednesday 8th of March 2017 02:58:20 PM
....”. Earlier this week Field said the charges appeared to be part of a “bidding war, to see who can slap the biggest penalty on workers who are sick”. ...
ZTE fined $1.1bn for flouting US sanctions against Iran image
Source : BBC [Read Article] Tuesday 7th of March 2017 08:17:10 PM
....The US said ZTE lied to authorities and its own lawyer about the violations. It must now pay a $892m (£740m) penalty as well as $300m which will be suspended for seven years depending on the firm meeting certain conditions. ...
Sick Parcelforce couriers can be charged up to £250 if they can't find cover image
....The sum is meant to cover the cost of finding a replacement courier. Parcelforce’s self-employed couriers typically earn about £200 for a shift of 12 hours or more, meaning the added penalty can see them lose out on £450 a day if they are ill. ...
Asda fined £300,000 after dead mice and flies found at delivery depot image
....“It is simply unacceptable for customers to be exposed to the potential risk of harm because a company cannot get its house in order and store foodstuff in a safe and hygienic manner. I am therefore pleased that magistrates have taken a tough stance and issued a heavy penalty. ...
Vodafone to recruit women on career breaks image
Source : BBC [Read Article] Friday 3rd of March 2017 12:01:11 AM
....About 10% of its new management hires will be women who have taken a break from work, perhaps to start a family. Women face challenges when coming back to work including a "pay penalty", according to think tank the Resolution Foundation. ...
New Lifetime ISA launched in April: Should you use it to boost retirement savings?  image
.... It means that for every £4 saved the Government will top it up with an extra £1 - thought this cash can only be used to buy a first home or taken with the savings at 60. Taking money in alternative circumstances will mean losing the bonus, as well as a stinging 25 per cent charge - although this penalty will not be introduced until April 2018. ...
More than half of new-build homes 'have major faults', plus the best city cycle schemes image
.... It’s also just 10 weeks until paper £5 notes are history, writes Rupert Jones. How ignoring a ‘scam’ penalty notice cost us £300 in fees. ...
AMC, APR, ERC explained: The ridiculous financial acronyms that serve to confuse image
Source : Daily Express [Read Article] Wednesday 1st of March 2017 09:01:00 AM
....co. uk, says the ERC is a penalty for switching deals early and can be as high as 5 per cent: “It is often tucked away in your mortgage paperwork and can be easy to miss. ...
Australia avoids recession as GDP grows 1.1% in December quarter image
Source : Guardian [Read Article] Wednesday 1st of March 2017 12:43:59 AM
....Bowen said stronger household consumption was “largely attributable to people drawing down heavily on their savings instead of any boost to their wages which are growing at generation lows”. “The national accounts show that corporate profits surged while wages and salaries in the economy fell in December,” he said, noting that penalty rates had just been cut by the Fair Work Commission for 700,000 workers. ...
Sundays aren't that special, right? Not according to the Fair Work Commission | Greg Jericho image
. The decision by the Fair Work Commission to cut penalty rates for Sundays was of course handed down on a Thursday morning. ...
Rate debate image
Source : BBC [Read Article] Friday 24th of February 2017 08:58:04 AM
....The nation's workplace tribunal, the Fair Work Commission, slashed a pay benefit for workers in the hospitality, retail, fast food and pharmacy industries. Known as penalty rates, it afforded employees higher wages - as much as 200% in some cases - on Sundays and public holidays. ...
RBS reports £7bn loss and says it will not make profit until 2018 image
Source : Guardian [Read Article] Friday 24th of February 2017 07:27:28 AM
....The 2016 loss was caused by £10bn of one-off items, including £5. 9bn set aside for looming fines and legal costs, largely related to a forthcoming penalty from the US Department of Justice (DoJ) for mis-selling toxic bonds in the run-up to the financial crisis. ...
How ignoring a ‘scam’ penalty notice cost us £300 in fees image
Source : Guardian [Read Article] Friday 24th of February 2017 07:00:25 AM
....We have had to pay a bailiffs’ fee of nearly £300 because Lambeth council has pursued us for a parking fine, even though we have never driven our car in London. We thought the penalty notice and ensuing letters were a scam, so we ignored them. ...
BT’s crossed wires over line rental refund image
Source : Guardian [Read Article] Wednesday 22nd of February 2017 07:00:27 AM
....BT has confirmed it accepts this and will be contacting customers and briefing its advisers. To be clear, if you leave a phone company mid-contract due to a significant price rise within 30 days, you should not incur penalty charges – including pre-bought line rental. ...
Government failure to act means gender pay gap will remain, say MPs image
Source : Guardian [Read Article] Tuesday 21st of February 2017 06:50:01 AM
....The gender pay gap is likely to persist for more than a generation in the UK after the government rejected proposals to encourage flexible working and help women back into the workforce, MPs have said. Without ministers putting their weight behind measures needed to end the “pay penalty” suffered by millions of women, the government will fail to meet its target of closing the gap within the next couple of decades, said the cross-party women and equalities committee. ...
Another Brexit downside: foreign giants in power grabs for famous British names image
....And a proposed deal announced by the chancellor on Friday – designed to free the bank from the necessity of having to divest 300 branches – has added to the strain on its fragile finances. To satisfy the penalty for state aid meted out by Brussels as a result of the bailout, RBS said it would need to take another £750m hit – indicating that the loss it reports on Friday will be close to a colossal £7bn. ...
Pension warning: Retirees set for SHOCK tax bill after new rules are introduced THIS April image
....". He added: "Many employers will offer higher contribution rates than this, meaning middle income earners could end up being hit with a shock tax penalty on their pension savings. ...
Treasury plan may allow RBS to avoid selling 300 branches image
Source : Guardian [Read Article] Friday 17th of February 2017 09:29:15 PM
....The chancellor, Philip Hammond, last year cited the branch disposals as one of the hurdles preventing him selling off any more of the 73% stake in the bank. The other problem is the uncertainty over the size of a penalty from the US for a toxic bond misselling scandal in the run-up to the 2008 financial crisis. ...
Uber exploiting loophole to 'spread tentacles' across UK, union says image
Source : Guardian [Read Article] Friday 17th of February 2017 05:55:20 PM
....Last month, Southend council found that two cab drivers it had previously stripped of their licences were using the Uber app to pick up passengers in the area. Nasser Hussain, 60, and Nisar Abbas, 37, had been found to be sharing penalty points for traffic offences with other drivers in order to avoid being banned. ...
Energy bills to rise up to 28% for thousands in UK as fixed contracts end image
Source : Guardian [Read Article] Wednesday 15th of February 2017 02:23:09 PM
.... However, British Gas said last week it was freezing bills. Moneysupermarket said consumers could switch penalty-free up to 45 days before their existing deal is due to end, under the regulator’s switching rules. ...
Bribery and Brexit propel Rolls-Royce towards historic losses image
Source : Guardian [Read Article] Saturday 11th of February 2017 01:42:36 PM
....Rolls-Royce will report one of the biggest losses in British corporate history this week as Brexit and a corruption scandal leave an indelible mark on the famous aerospace company. City analysts have forecast that Rolls could report a pre-tax loss of more than £4bn – its worst ever – due to the sharp decline in the value of the pound and the £671m penalty that the company has agreed to pay to settle corruption allegations. ...
Former Rolls-Royce boss questioned in corruption inquiry image
Source : Guardian [Read Article] Friday 10th of February 2017 11:31:33 AM
.... A company spokesman said King would remain on the board as a non-executive and that the change was part of a management reshuffle. The £671m payment by Rolls-Royce, of which nearly £500m will be paid to UK authorities, is the biggest ever penalty for criminal conduct for a British company. ...
Fifth of rail passengers buy wrong ticket from machines, says regulator image
Source : Guardian [Read Article] Friday 10th of February 2017 12:01:36 AM
. About one in five train passengers using ticket machines could be either paying too much or be at risk of a penalty fare, the rail regulator has said. ...
Game over! How to beat the 10% rise in the cost of your TV, phone and broadband image
....”. He says the Ofcom rules require the big telecoms firms to give customers 30 days to leave penalty-free, and if you are unhappy you should vote with your feet and switch supplier. ...
Tax return DEADLINE: Millions urged to act TODAY to avoid £100 fine  image
Source : Daily Express [Read Article] Friday 27th of January 2017 04:14:00 PM
. Self-assessments are immediately slapped with an immediate charge of £100 if its filed after January 31, with the penalty building up the later its left. ...
UK chancellor rules out cutting stake in RBS after £3.1bn US hit image
Source : Guardian [Read Article] Thursday 26th of January 2017 07:14:10 AM
....8bn) from Deutsche Bank and Credit Suisse over the same scandal. McEwan would not comment on suggestions that the US penalty represented a transfer of wealth from the UK across the Atlantic or entertain any discussion about following the route taken by Barclays to refuse to settle with the justice department. ...
Workers from poorer backgrounds face class earnings penalty – study image
Source : Guardian [Read Article] Thursday 26th of January 2017 12:01:02 AM
....The class pay gap is worse for women and for people from minority-ethnic backgrounds, according to the research, carried out for the commission by the London School of Economics and University College London. Alan Milburn, the former Labour minister who chairs the commission, said he would send details of the findings to employers and expected them to “take action to end the shocking class earnings penalty”. ...
Amartya Sen: ‘Referendums are like opinion polls. Sometimes they’re very wrong’ image
.... Good collective decision-making becomes even more feasible if it is possible to rally people, who may have started out distrustful and suspicious of some proposition, to the cause. From outlawing the death penalty to accepting the requirement to wear seatbelts, argument has changed individuals’ preferences – and social good has resulted. ...
Men and women struggle to get on at work and find time for their families image
....The reality, though, was very different. Inflexible employers, rising living costs and a society that penalised women financially for taking time out to have children led to what experts call the “motherhood penalty”. ...
Calls for ex-Rolls-Royce CEO to lose knighthood after firm admits bribery image
Source : Guardian [Read Article] Wednesday 18th of January 2017 07:48:18 PM
....Gardiner added that the regulators should ensure that all the individuals involved in corruption and bribery at Rolls-Royce should be held to account. The manufacturing multinational has been hit with the biggest criminal penalty in British history after being ordered to pay £691m in fines. ...
EE fined £2.7m for overcharging customers image
Source : Guardian [Read Article] Wednesday 18th of January 2017 07:45:08 AM
....Proceeds of the fine will be passed on to the Treasury. Ofcom said the penalty reflects a 10% reduction in light of EE’s agreement to enter into a formal settlement and its admission of full responsibility for the breaches. ...
Rolls-Royce’s SFO settlement is big, ugly and serious image
Source : Guardian [Read Article] Monday 16th of January 2017 07:24:51 PM
.... For 2017, the City expected only break-even at a cash level. This penalty for bribery and corruption in foreign markets – details to be revealed in court on Tuesday – has landed at a bad moment. ...
Rolls-Royce to pay £671m over bribery claims image
Source : Guardian [Read Article] Monday 16th of January 2017 05:32:13 PM
.... It added: “These agreements relate to bribery and corruption involving intermediaries in a number of overseas markets, concerns about which the company passed to the SFO from 2012 onwards. “These are voluntary agreements which result in the suspension of a prosecution provided that the company fulfils certain requirements, including the payment of a financial penalty. ...
Mistakes were made: readers on the firms with awful customer service image
Source : Guardian [Read Article] Monday 16th of January 2017 07:00:17 AM
....TalkTalk said: “We are sorry that Mr L had a problem with his TalkTalk service. As a result of these issues, he was able to cancel our service and move to another provider without penalty. ...
Moody's $864m penalty for ratings in run-up to 2008 financial crisis image
Source : Guardian [Read Article] Saturday 14th of January 2017 06:53:00 AM
....Moody’s said it would pay a $437. 5m penalty to the justice department, and the remaining $426. ...
Six Volkswagen executives charged with fraud over emissions cheating image
Source : Guardian [Read Article] Wednesday 11th of January 2017 09:42:57 PM
....3bn (£3. 5bn) penalty, US officials have said. ...
Nearly 700 firms fined total of £1.4m for not paying minimum wage image
Source : Guardian [Read Article] Friday 6th of January 2017 12:29:40 PM
....4m for paying staff below the minimum wage. The penalty is on top of the previously announced £3. ...
Ebay Australia won’t help as a member sends rape threats and obscenities image
Source : Guardian [Read Article] Thursday 5th of January 2017 07:00:42 AM
.... The first thing you should do is report the abuse to the police. Rape threats are a crime and, under the Australian Criminal Code Act 1995, the maximum penalty is three years’ imprisonment or a $30,000-plus fine. ...
Household debt rises to post-credit crunch high image
Source : BBC [Read Article] Wednesday 4th of January 2017 11:26:03 AM
....Step Change says lenders, regulators and the government need to ensure that the mistakes made in the lead-up to the financial crisis are not repeated, and is calling for better policies to protect those who fall into financial difficulty. The "breathing space" scheme would give problem debtors statutory protection from the interest, penalty charges and enforcement actions that banks and credit card firms tend to ramp up when borrowers get into difficulty. ...
Having children carries big pay penalty, says think tank image
Source : BBC [Read Article] Wednesday 4th of January 2017 12:14:20 AM
....That compares with a 5% pay difference between men and women in their 20s. As a result, having children carries a "sharp and long-lasting" pay penalty, the think-tank concluded. ...
The train companies pocket millions in compensation for delays image
Source : Guardian [Read Article] Saturday 31st of December 2016 07:01:21 AM
....The Tory MP for the deep-blue Conservative commuting territory of East Worthing and Shoreham, Tim Loughton, has come up with a plan he hopes will give the private train companies a kick up the backside, and has won support from other MPs, such as Caroline Lucas, the Green MP for Brighton Pavilion, whose constituents know a thing or two about train delays. Loughton wants the train companies to be forced to pay a penalty fine every time a train is late, is cancelled, or overruns a station. ...
Deadline: one month left to file your tax return image
Source : Guardian [Read Article] Saturday 31st of December 2016 07:00:21 AM
....”. What are the penalties if I don’t get my return in on time, and I don’t have a good enough excuse? You’ll be hit with an initial £100 fixed penalty, which applies even if you don’t owe any tax or you paid your tax on time. ...
Learner drivers to be allowed on motorways under training shakeup image
Source : Guardian [Read Article] Friday 30th of December 2016 09:30:07 AM
....Under the proposals, motorcyclists would take a theory test as part of the compulsory basic training (CBT) course, which allows bikes and mopeds to be ridden unaccompanied. CBT certificates would be revoked if the motorist gets six penalty points. ...
Zero-hours workers 'face £1,000 pay penalty' image
Source : BBC [Read Article] Friday 30th of December 2016 08:06:08 AM
....Workers on zero-hours contracts typically earn £1,000 a year less than permanent employees, according to Resolution Foundation research. People on the controversial contracts face a "precarious pay penalty" of 6. ...
Zero-hours workers '£1,000 worse off a year' than employees image
Source : Guardian [Read Article] Friday 30th of December 2016 12:01:17 AM
....The Resolution Foundation said all workers who find themselves without a permanent, full-time role lose out in terms of wages, but people hired on zero-hours contracts suffer the biggest financial punishment. The thinktank said its research showed that workers on zero-hours contracts faced a “precarious pay penalty” compared with other workers doing similar jobs. ...
Crusader: How we fought to get you justice in 2016 image
Source : Daily Express [Read Article] Saturday 24th of December 2016 07:08:00 AM
....Daughter Jill Stanford and mum Jean had the time of their lives seeing stars Michael Ball and Alfie Boe in the seats they first paid for after Crusader intervened following a ticket blunder that relegated them to the back rows of the theatre where Jean, who has limited sight, would have been unable to see the performance. Rail passenger Sophie Donnelly was recompensed after a gross injustice where she was charged a penalty fare for mislaying her ticket yet produced proof she had paid. ...
Barclays' defiance of US fines has merit image
Source : Guardian [Read Article] Friday 23rd of December 2016 04:03:46 PM
.... However, that is almost par for the course in these cases. The central question is the right size of penalty. ...
Deutsche Bank and Credit Suisse agree multibillion-dollar settlements with US image
.... Both settlements relate to the complex packaging up of home loans which was a lucrative business for the banking industry until the 2008 crisis. The DoJ did not disclose the size of penalty it wanted to levy on Barclays but it is understood to be $4bn. ...
Deutsche Bank reaches $7.2bn settlement with US in mortgages case image
Source : Guardian [Read Article] Friday 23rd of December 2016 05:16:46 AM
.... That negotiating figure caused Deutsche Bank’s stock to plummet and raised questions about the bank’s stability and the risks it poses to the financial system. Under the settlement, Deutsche Bank would pay a civil monetary penalty of $3. ...
Deutsche Bank agrees $7.2bn penalty with US regulators image
Source : BBC [Read Article] Friday 23rd of December 2016 03:48:53 AM
....Deutsche was expecting to pay in the region of $5bn, based on the penalties doled out to other banks which allegedly missold mortgage-based investments. Yes, today's penalty is higher - at $7. ...
US justice department accuses Barclays over mortgage mis-selling image
Source : Guardian [Read Article] Thursday 22nd of December 2016 10:59:23 PM
....No figure was released about the sum that the DoJ had been seeking from Barclays for settling the complaint, which was announced amid speculation that Deutsche Bank was close to reaching an agreement over the mis-selling scandal. Deutsche Bank has been facing a $14bn settlement with the DoJ over similar allegations and when the size of the potential penalty leaked in September the shares in Germany’s biggest bank tumbled to new lows. ...
Should we dip into our savings to reduce our mortgage? image
Source : Guardian [Read Article] Thursday 22nd of December 2016 07:00:40 AM
.... SJ. A With interest rates paid on savings as pitifully low as they are, putting savings towards overpaying a mortgage makes perfect sense – but only if you can do so without paying a penalty. ...
RBS, Barclays and other banks fined in Swiss franc Libor case image
Source : Guardian [Read Article] Wednesday 21st of December 2016 08:41:42 AM
....A third probe into yen Libor rates saw the regulator hand out £11. 3m of fines, including a £3m penalty for RBS, for manipulation that took place between 2007 and 2010. ...
European commission guilty of 'negligence' over diesel defeat devices, says draft report image
....”. The commission recently began legal action against several countries, including the UK, for failing to set up penalty systems to deter violations of emissions law in a move that won the current industry commissioner, Elżbieta Bieńkowska, grudging respect from Green MEPs. ...
IMF chief on trial image
Source : BBC [Read Article] Monday 19th of December 2016 03:16:17 PM
.... . And yet it decided not to hand down a criminal penalty because it said her national and international reputation had to be taken into account. ...
Christine Lagarde avoids sentence despite guilty verdict in negligence trial image
....The IMF’s shareholders were aware of the pending court proceedings when they appointed Lagarde to a second five-year term earlier this year and were weighing up whether she – and the IMF – had suffered lasting reputational damage. The decision not to impose any penalty despite the guilty verdict was seen by some observers as enhancing the chances of the IMF’s managing director holding on to her job. ...

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