A European Union (EU) official has revealed that the European Commission (EC) is taking a close look into past money laundering cases at EU banks to determine if current rules need to be changed. The official told Reuters that the EC is reviewing cases between...
A European Central Bank (ECB) policymaker has called bank mergers in the EU “desirable,” but admits that it’s ultimately up to individual banks to decide if they would like to consolidate with one another. “I don’t think of any special projects — this is not...
France’s lower parliament has passed a proposed tax that targets the revenue of tech giants like Google, Amazon and Facebook. Last month, France’s finance minister announced the 3 percent tax, which targets digital businesses with €750 million ($845 million USD) in global revenue and €25 million in...
Ahead of the U.K.’s potential departure from the European Union, the bloc’s banking watchdog is imploring member states to protect the deposits of customers. While national deposit schemes cover bank deposits up to 100,000 euros, that protection does not cover branches of banks from not in...
Retailers in the U.K. had a poor showing during the holiday shopping season; The Financial Times reported that despite steep price cuts, retail sales had their worst performance since December of 2008. Citing retail sales data compiled by KPMG and the British Retail Consortium, The Financial...
France, which had vowed to start taxing Google, Apple, Facebook, and Amazon in December if the European Union failed to agree on a digital tax, now says the tax will be implemented on January 1. According to a report in DW.com, France’s Economy Minister Bruno...
U.K. retailers are warning of a bad holiday shopping season. Mike Ashley, head of the Sports Direct chain, warned that the situation is dire, with lackluster sales unexpected for many retailers. “November was the worst on record, unbelievably bad. I don’t blame the guys, no...
France’s major banks have agreed to freeze the fees they charge next year in an effort to stop “yellow vest” protests that have recently hit central Paris. According to Reuters, President Emmanuel Macron met with some of the country’s top bankers to figure out how to...
As the Riksbank seeks to adapt to a society that is turning to cashless payment methods, the Swedish central bank is considering issuing a digital currency. While the bank explained a concept of an “e-krona” in a report last year, it said on Friday (Oct. 26)...
