The government said Monday it will radically overhaul the consumer credit regime, arguing that the 50-year-old rules are outdated and too complex, amid lingering concerns the reforms could weaken protections for borrowers.
The government said Monday it will radically overhaul the consumer credit regime, arguing that the 50-year-old rules are outdated and too complex, amid lingering concerns the reforms could weaken protections for borrowers.
EY has paid £105.5 million ($141 million) to the administrators of NMC Health PLC after settling a £2 billion claim over its allegedly negligent auditing of the collapsed hospital operator and failure to spot major fraud by the health giant's shareholders.
HM Treasury said on Monday that it will introduce ring-fencing reforms it designed in collaboration with the Bank of England through its Enhancing Financial Services Bill, aiming to boost bank lending by £80 billion ($107 billion).
U.K. financial regulators published proposals on Monday to support businesses in the sector to develop and accelerate the digitalization of shares or bonds and its infrastructure.
HM Revenue and Customs told the U.K. Supreme Court Monday that ScottishPower can't dodge paying tax on just over £28 million ($38 million) in redress payments that the energy company made after being investigated for regulatory failures.
The former CEO of Austrian lender Meinl Bank AG who was extradited from the U.K. has reached a tentative deal to resolve criminal charges that he helped Odebrecht SA hide $170 million in funds used to bribe officials around the world and defraud the Brazilian government, a Brooklyn federal court heard Monday.
The government must provide a stream of investment opportunities for pension funds if it wants the £3 trillion ($4 trillion) sector to invest more in the U.K. economy, a trade body said Monday.
Women, particularly those from ethnic minority backgrounds, are more likely to experience sustained periods out of work and ultimately accrue lower private pension savings and income in retirement, the Department for Work and Pensions said in a report on Monday.
Germany's Commerzbank AG advised its shareholders on Monday to reject what it considers a lowball approach from UniCredit SpA in its latest move to fend off the Italian rival and continue as a standalone bank.
Molten Ventures PLC said on Monday that it has sold another portion of its stake in fintech company Revolut for approximately £63 million ($84 million), extending the European venture capital firm's series of disposals to boost cash returns and fund new investments.
