Banks Asked To Freeze Loan Payments As Crisis Deepens
British lenders should freeze loan and credit card payments for borrowers struggling with the “financial shock” caused by the coronavirus outbreak, the Financial Conduct Authority said Thursday, as it set out a proposed three-month relief package for consumers.
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Whether an online vitamin company can deduct value-added tax on postal services is a matter for the European Court of Justice, the U.K. Supreme Court held Wednesday, saying European Union law on the matter is unclear.
Litigation funder Burford Capital told a London court on Wednesday that the London Stock Exchange is "fighting tooth and nail" to avoid disclosing the identities of traders it alleges manipulated the firm's stock in a short-selling attack that caused Burford's share price to plunge.
Banks can use “selfies” to verify the identity of their customers, the Financial Conduct Authority has said as it relaxed retail investment rules in areas including reporting trades and money laundering safeguards.
The U.K.’s highest court ruled on Wednesday that an insurer cannot pursue claims in England against a Turkish shipping company’s bank to recover £22 million ($27.2 million) paid out for a cargo ship later determined to have been deliberately sunk by its owners.
The country’s biggest banks, including HSBC and Barclays, have agreed to temporarily scrap dividend payments after the Bank of England warned them to preserve cash to lend to the pandemic-stricken economy rather than pay shareholders or senior staff bonuses.
Britain's top court ruled Wednesday that Barclays Bank PLC is not responsible for a doctor who sexually assaulted prospective employees decades ago, a decision that will offer some relief for companies employing independent contractors.
Morrisons has escaped liability for a disgruntled staff member stealing and distributing the payroll data of 100,000 colleagues, as the U.K.’s highest court ruled Wednesday that the connection between his job and the theft was not close enough.
The Court of Appeal ruled Tuesday that Genentech Inc. can’t correct a mistake made by one of its agents that will prematurely end its patent rights for an eye-disease treatment, saying accommodating the request would put the biotech company in a “uniquely privileged position.”
Barclays PLC has denied allegations it misused alleged confidential information about French reinsurer Scor during a failed takeover bid, saying much of the information at issue was actually public.
The director of a financial services company has been hit with the maximum 15-year disqualification order for his part in squandering £9.5 million ($11.5 million) of investors' money on office improvements and other company expenses, a government agency said Tuesday.