A private equity firm and an investment adviser have withdrawn their English lawsuits accusing CMS Cameron McKenna Nabarro Olswang LLP of providing negligent advice over €3.5 million ($4 million) in investments in life-science companies midtrial and have been told to pay the law firm’s legal costs.
Two men convicted of stealing nearly £80 million ($102 million) from London investors — money they spent on boats, property and cars — tried to convince a London judge Friday that none remained to be confiscated, with one defense attorney saying his client “was not reticent” in his spending.
The U.K. government said Friday it will invest £13 million ($16.6 million) into dozens of new artificial intelligence and data analytics projects that include efforts to tackle the billions of pounds' worth of insurance fraud that takes place in the country each year.
Consumers may no longer have access to a range of insurance funds if European Union authorities do not extend into 2020 a rule that allows investment managers to avoid time-consuming duplication of information that they are obliged to provide to investors, Europe’s insurers and asset managers warned on Friday.
Germany’s financial regulator announced Friday it has ordered an independent investigator to subject Deutsche Bank’s role in a money laundering scandal involving Danish lender Danske Bank to closer scrutiny.
An investment company accusing Lloyds Bank subsidiaries and other institutional investors of failing to pay their share of the costs of securing a £200 million ($254 million) settlement for RBS shareholders will have their case heard at trial in a year.
Political uncertainty surrounding the U.K.’s fast-approaching exit from the European Union threatens Royal Bank of Scotland's ability to clear 300,000 daily cross-border payments valued at more than €50 billion ($56 billion), the lender warned Friday.
Lloyds Banking Group PLC is facing pressure to abandon its new overdraft charges, with 20 British lawmakers warning that the “opportunistic and irresponsible” fees could expose some customers to annual interest rates of 61 percent.
Goldman Sachs’ failure to make basic adjustments to an analyst’s role two years after he disclosed his attention deficit hyperactivity disorder indicates that its approach to the disability is from “the dark ages,” his lawyer told a London employment tribunal Thursday.