SEB fined for Baltic money laundering breaches

SEB became the latest Scandinavian bank to be fined by regulators for weak anti-money laundering controls and governance in its Baltic Sea operations, in a scandal that has hurt the image of northern Europe. Thursday, Swedish regulators SEB fine, the big Stockholm-based lender controlled by the industrial family Wallenberg, 1 …

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Moneyfacts: Borrowers Can Save Thousands Of Dollars By Remortgage

Recent research from Legal & General indicates that more than one in three people financially affected by the pandemic are considering reverting to their lender’s Standard Variable Rate (SVR) rather than seeking a new mortgage deal. Moneyfacts.co.uk illustrates how it can cost thousands of pounds in higher monthly repayments to …

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Audit boss says state deal with Altamira a “major scandal”

In 2017, the now-defunct cooperative bank – run by the state at the time – signed a non-competitive contract with asset management company Altamira, through which the latter would manage the $ 7 billion portfolio. The lender’s NPLs, while the deal was likely drafted by Altamira herself, lawmakers heard on …

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NFM Lending greets Major Hugh Murray

Linthicum, February 02, 2021 (GLOBE NEWSWIRE) – LINTHICUM, MD, February 1, 2021— NFM loans is pleased to honor Major Hugh Murray as Hi NFM for February 2021. Murray is originally from Houston, TX, where he grew up with his siblings, Dirk and Jayna. The men in Murray’s life carried a …

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Plano’s $ 1 billion redevelopment of former JC Penney headquarters moved to lender Beal Bank

Ownership of one of Plano’s largest developments has been transferred to the project lender. A unit of Plano-based Beal Bank incurred more than $ 380 million in debt to acquire and redevelop JC Penney’s nearly 50-acre campus in the Legacy Business Park. The developers were turning the former retailer’s headquarters …

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EBRD seeks to safeguard Moldovan port of Giurgiulesti operations

BUCHAREST, Romania, March 22 (SeeNews) – The European Bank for Reconstruction and Development (EBRD) said on Monday it was enforcing the rights of its finance and security documents regarding Danube Logistics Holding BV’s stake in Danube Logistics, operator of the international free port of Giurgiulesti in Moldova. The EBRD’s enforcement …

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House Crowd administrator reveals development loans are in default

All of The House Crowd’s active development loans have defaulted, the administrator of the collapsed peer-to-peer lender said. The platform announced on Friday February 26 to have entered the administration “Because of financial problems” the company is facing. Frank Ofonagoro, Jeremy Woodside and Frank Wessely of the corporate consultancy firm …

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Real Estate Advisory Board Head Howard Rothschild on Keeping Union Workers Employed During Pandemic

How has the pandemic changed things? Collective agreements – regulations on how to treat employees and the management of a building – often failed to work during the pandemic. I spent the last four months dealing with the veterans agreements that had been drafted over the past 80 years, figuring …

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GSK and CureVac to develop Covid-19 vaccines for new variants

Drug maker GlaxoSmithKline said on Wednesday it would work with a German biopharmaceutical company to develop new vaccines targeting emerging variants of COVID-19, fearing that certain mutations could make the virus more difficult to fight. GSK plans to invest 150 million euros ($ 181 million) to support the research of …

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Axis Bank’s retail banking director resigns citing “personal compulsions”

Outlook June 15, 2020 9:00 PM IST Axis Bank’s retail banking director resigns citing “personal compulsions” perspectivesinde.com 1970-01-01T05: 30: 00 + 0530 Mumbai, June 15 (PTI) The third largest private sector lender, Axis Bank, announced Monday that its executive director Pralay Mondal had resigned due to “personal compulsions” within a …

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