Life insurer Standard Life has said that it is unable to keep its promise to make up the shortfall in its customers’ endowment mortgages.
Up to 600,000 investors may be affected by the insurer’s move. In 2000, the mutual said it would guarantee its endowment policies provided it met investment targets
A judge has ordered Spain’s top banker to stand trial on charges of tax fraud.
Emilio Botin, chairman of Santander Central Hispano, Spain’s largest bank, will be tried by the National Court, said Judge Teresa Palacios.
It is now up to a three-judge panel at the court to set a trial date for Mr Botin, who has been leading the Spanish bank’s recent bid for the UK’s Abbey
The former chief of Japanese carmaker Mitsubishi Motors has denied criminal charges that he conspired to cover up defects which led to a fatal accident.
Former president Katsuhiko Kawasoe and ex-vice president Takashi Usami are on trial in Yokohama, near Tokyo.
Mitsubishi has admitted that it covered up the clutch problem which led to the death of a truck driver in 2002
Two of Italian food giant Parmalat’s former auditors are to stand trial over their alleged role in the financial scandal that struck the firm last year.
Former Grant Thornton employees Maurizio Bianchi and Lorenzo Penca are to be prosecuted for market-rigging, a Milan court ruled on Tuesday. The pair are the first to be indicted over the Parmalat scandal
Two of Italian food giant Parmalat’s former auditors are to stand trial over their alleged role in the financial scandal that struck the firm last year.
Former Grant Thornton employees Maurizio Bianchi and Lorenzo Penca are to be prosecuted for market-rigging, a Milan court ruled on Tuesday. The pair are the first to be indicted over the Parmalat scandal
Two of Italian food giant Parmalat’s former auditors are to stand trial over their alleged role in the financial scandal that struck the firm last year.
Former Grant Thornton employees Maurizio Bianchi and Lorenzo Penca are to be prosecuted for market-rigging, a Milan court ruled on Tuesday. The pair are the first to be indicted over the Parmalat scandal
A ruling that Visa and Mastercard had violated antitrust law has been upheld by the US Supreme Court.
The case stemmed from a 1998 Justice Department lawsuit challenging the credit card issuers’ regulations.
The groups appealed after a court found they were wrong to block banks from issuing credit cards on rival networks such as Discover and American Express
A ruling that Visa and Mastercard had violated antitrust law has been upheld by the US Supreme Court.
The case stemmed from a 1998 Justice Department lawsuit challenging the credit card issuers’ regulations.
The groups appealed after a court found they were wrong to block banks from issuing credit cards on rival networks such as Discover and American Express
South Korea’s markets watchdog has said it is to inspect Citigroup’s local operations, days after regulators censured the bank’s Japanese business.
The Financial Supervisory Service (FSS) said the probe would focus mainly on Citigroup’s private banking division. Last week, Japan’s market regulators ordered Citigroup to close its private banking operations there
The world’s largest insurer by market value is the target of a criminal investigation by the US Justice Department.
American International (AIG) is accused of helping a banking client commit fraud and keep about $762m (£522m) of bad loans off its balance sheet.
AIG says it did nothing wrong while analysts say the firm’s actions fall into a legal grey area