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The formal probe is based on the possibility that the deal could leave Japan's biggest bank with insufficient competition in Britain's market for aviation finance. (AP)

UK Probes Mitsubishi's £6.3B Bid For Aviation Finance Arm

Britain’s antitrust watchdog on Monday began investigating Mitsubishi UFJ Financial Group's planned £6.3 billion ($7.6 billion) deal for a unit of Germany’s DVB Bank, citing worries that the takeover might hinder competition for aviation financing.

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Argentina Hit With €384M UK Suit Over Bond Payout

Three investment funds holding billions of dollars of Argentinian government bonds sued the country for €384.7 million ($427 million), claiming the South American country had improperly changed the baseline used to assess when payments were owed. 

Customers Of Failed Danish Insurer To Be Compensated

Britain's financial compensation scheme said Monday it will compensate homeowners who took out policies with failed Danish insurer Alpha Insurance after a deal to secure replacement cover collapsed.

EU Looks To Renew Dirty Money Blacklist Of Territories

The European Union will attempt to revive a blacklist of foreign countries that pose money laundering risks at a meeting of the bloc’s finance ministers in October after a previous attempt was scuttled by national governments, a European Commission spokesman confirmed Monday.

EU Tells Firms To Ready Products For Benchmark Switch

The European Central Bank handed detailed guidance to financial on Monday aimed at smoothing the transition of more than €100 trillion ($110 trillion) of financial products underpinned by Europe’s EONIA interest-rate benchmark to a new unsecured overnight borrowing rate by January 2022.

Aviation Magnate Hits UAE Fund With Hacking Countersuit

Aviation magnate Farhad Azima filed a $16.7 million counterclaim in England's High Court on Friday against an Emirati state-owned investment authority he alleges hacked his email accounts and leaked details about him on the internet.

SFO Guidance Marks Change Of Tone On Cooperation

Britain’s Serious Fraud Office has clarified what companies can expect when they report fraud and corruption, issuing guidance that experts say will help businesses navigate the gap between cooperating with the differing demands of U.S. and U.K. white-collar enforcers.

Mozambique Sues French Businessman Over Bribery Claims

Mozambique's attorney general has sued the founder of a shipbuilding company for fraud in London, accusing the billionaire executive of taking part in a $2 billion scheme involving Credit Suisse to cheat investors who bought the African country's debt.

Prudential Unit’s Deal To Sell £11.2B Annuity Portfolio Nixed

A judge refused on Friday to approve a £11.2 billion ($13.6 billion) deal to transfer more than 365,000 Prudential annuity policies to an insurance company started in 2007, saying it was “entirely reasonable” that policyholders would prefer the longer-established company.

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