The Guardian, reprted that the 1.9bn-dollar settlement deal that HSBC agreed with US authorities over money-laundering offences, could be at risk, meaning that the bank could face criminal charges. The original settlement meant that HSBC wouldn’t face prosecution but the judge overseeing the case is now thought to be considering rejecting the deal.
The Times writes that property group British Land is to spend up to £500m on assets in Paddington Central, “a signature development that marks the capital’s gateway to the west”. The company is thought to be in discussions with Aviva Investors about an office building in the area.
The Independent says that the Tim Mason, the head of Tesco’s failed, loss-making US business, walked away with nearly £3.0m last year.
After falling 7.3% on Thursday, it’s worst one-day fall in 13 years, Japan’s Nikkei extended losses on Friday, falling more than 3.0%, states The Telegraph.
Banks in Spain will need to put aside more provisions of up to €10bn to cover loans that borrowers may struggle to repay, according to forecasts by the Bank of Spain, writes the Financial Times.
Deutsche Bank yesterday had to halt speeches yesterday at its annual general meeting in Frankfurt after a group of investors mounted a protest and had to be escorted by police. They accused the company of being “crisis profiteers”. Yahoo news
A wealth management division of JPMorgan Chase has received a £3.08m fine by the UK FInancial Conduct Authority for not having records to show it was giving clients good advice. The Scotsman.
