Wednesday, 27 October 2021

Tag Archives: settlement

Property tycoon Malik Riaz’s UK assets to be returned to Pakistan

LONDON: Pakistani property tycoon Malik Riaz has agreed to pay UK’s National Crime Agency (NCA) £190m in a settlement after eight UK bank accounts linked to him were frozen in August 2019. “The assets will be returned to the State of Pakistan,” the NCA said, referring to the settlement amount. ...

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Uber and Waymo reach settlement

Uber has settled a lawsuit alleging that it ripped off self-driving car technology from Google’s autonomous vehicle division. Under the surprise deal, the ride-hailing service will pay Waymo, which is part of Alphabet, Inc., a stock settlement valued by Waymo at $245 million. Both confirmed the settlement early Friday, four ...

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HSBC in $100 million forex fraud settlement

NEW YORK: HSBC Holdings on Thursday agreed to pay $101.5 million (£73 million) to settle a U.S. criminal probe into the rigging of currency transactions, which has already led the conviction of one of its former bankers. The payment includes a $63.1 million fine plus $38.4 million in restitution to ...

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Habib Bank to pay $225 million New York fine for compliance failures

WASHINGTON: The New York State Department of Financial Services said Pakistan’s Habib Bank had agreed to pay $225 million to settle an enforcement action brought against it for infringing laws designed to combat illicit money transfers. The DFS said in a legal filing last month it was seeking to fine ...

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RBS chairman calls for transitional Brexit deal for banks

LONDON: The chairman of RBS, Sir Howard Davies, has backed calls for a transitional deal with Europe when Britain leaves the union, warning of the risk to banks if they swiftly lost access to the single market and passporting rights. “I think it is damaging if we don’t get a ...

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