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United Kingdom

Banks

EU readies contingency plan for possible Monte Paschi wind down - source

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BRUSSELS European Union authorities are making contingency plans for the possible winding down of Banca Monte dei Paschi if the Italian lender has a poor reading in stress tests this week and no private or public support is available, an EU official said.

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Goldman Sachs abused trust in dealings with Libyan LIA, fund's lawyer tells trial 6:56pm BST

LONDON Goldman Sachs abused its position as a trusted adviser to Libya's sovereign wealth fund, a lawyer for the fund argued on Tuesday, in a case that has subjected the bank's dealings to a forensic degree of scrutiny.

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Goldman is sued in U.S. over merger linked to Malaysia's 1MDB 5:59pm BST

NEW YORK Goldman Sachs Group Inc was sued on Tuesday by a major shareholder of a Malaysian bank it once advised, and which accused the Wall Street bank of fraudulently shortchanging it in a merger to curry favour with that country's prime minister.

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RBS warns customers of possible charges on deposits 4:16pm BST

LONDON State-backed Royal Bank of Scotland (RBS) has told more than a million business customers that it may have to impose charges on deposits, potentially becoming the first British bank to introduce negative interest rates. | Video

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Swiss to pass information on HSBC accounts to U.S. tax agency 3:20pm BST

ZURICH Switzerland said it plans to give information to U.S. tax authorities about accounts at HSBC Holdings Plc's Swiss private bank, as part of a U.S. investigation into tax evasion.

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Exclusive - Teva, Mylan eye Pfizer's Brazil venture, sources say 2:51pm BST

SAO PAULO Teva Pharmaceutical Industries Ltd and Mylan NV have shown preliminary interest in a Brazilian generic drugmaking joint-venture in which Pfizer Inc has a 40 percent stake, two people familiar with the process said.

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Deutsche Bank must face U.S. lawsuit over subprime disclosures 25 Jul 2016

NEW YORK A U.S. judge on Monday said Deutsche Bank AG must face part of a lawsuit claiming it deceived investors who bought more than $5.4 billion (4 billion pounds) of preferred securities by concealing its exposure to the fast-deteriorating subprime mortgage market.

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UK markets body publishes draft rule to stamp out manipulation 22 Jul 2016

LONDON An industry body published a standard on Friday that defines acceptable practise in financial and commodity markets, aiming to stamp out behaviour that prompted regulators to fine Barclays for fixing the price of gold.

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U.S. sides with HSBC to block release of money laundering report 22 Jul 2016

NEW YORK The U.S. government asked a federal appeals court on Thursday to block the release of a report detailing how HSBC Holdings Plc is working to improve its money laundering controls after the British bank was fined $1.92 billion.

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HSBC reviewing 2013 forex probe after trader's arrest - source 22 Jul 2016

LONDON HSBC is reviewing a past investigation of forex trades after the arrest on Tuesday night of a senior manager in New York for alleged fraud, according to a source familiar with the matter.