Daily Archives: 23/09/2016
Commerzbank eyes at least 5,000 job cuts
September 23rd, 2016
Commerzbank AG’s management is eyeing cuts of at least 5,000 jobs, or more than 10% of its workforce, and eliminating one of its units as part of a broader overhaul to address weak profitability amid low interest rates and ...
ASIC bans Brisbane financial advisor
September 23rd, 2016
ASIC has permanently banned Mr Sandeep Madhoji from providing financial services or engaging in credit activity after he was sentenced to imprisonment for fraud charges. This prosecution was the result of a joint operation between the Queensland Police Service ...
French government indicates will reclaim SocGen tax deduction if trader wins case
September 23rd, 2016
The French government indicated on Friday it would reclaim a 2.2 billion euro ($2.46 billion) tax deduction from Societe Generale (SOGN.PA) if an appeal court rules ex-trader Jerome Kerviel should not have to pay damages for losses he caused. ...
Google just pumped a bunch of money into Airbnb
September 23rd, 2016
Airbnb just got a big cash infusion — and Google is one of its big investors. According to a new financial filing, the company has raised $555 million at a $30 billion valuation, part of a desired $850 million round that ...
IBM in blockchain project with China UnionPay
September 23rd, 2016
Another day, another blockchain project unveiled by a bank, technology company, or consultancy. IBM will join the fray this week by announcing a partnership with China UnionPay to let bank customers exchange bonus points in different loyalty schemes. Arguing that such ...
Digital Asset, SIX Securities Services partner to bring blockchain to Swiss financial market
September 23rd, 2016
Digital Asset Holdings, a developer of distributed ledger technology (DLT) for the financial services industry, and SIX Securities Services, the post-trade infrastructure operator for the Swiss financial sector have entered into a partnership and announced plans to develop a proof-of-concept ...
Estonia makes bank account opening easier; Open without visiting a branch
September 23rd, 2016
Estonian residents and e-residents will be able to open current accounts without visiting bank branches according to a draft regulation of the Minister of Finance. “We will make opening a bank account easier and faster for everyone, including e-residents,” ...
SRA warns law firms about investment schemes
September 23rd, 2016
The Solicitors Regulation Authority (SRA) has issued a warning notice has been published telling solicitors about the risks of involvement in such schemes after a number of reports were received of law firms being linked to potentially fraudulent incidents where ...
BDO announced two key international appointments
September 23rd, 2016
Accountancy and business advisory firm BDO LLP has announced two key international appointments as the firm continues to expand in its private client business across the BDO global network. UK-based tax partners Wendy Walton and Richard Montague have been named Head of BDO ...
Thomson Reuters Strengthens Buy-Side Trading Capabilities with REDE Acquisition
September 23rd, 2016
Thomson Reuters has signed a definitive agreement to acquire REDI Holdings, a trading technology pioneer whose flagship REDIPlus execution management system (EMS) provides advanced cross-asset class trading capabilities to the buy-side. The acquisition is expected to close by the ...
