All articles for the topic: authority

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Resolving Europe’s Bank-Resolution Problems

The creation of a European banking union is a major step forward in the region’s financial integration. The first step in this process, single supervision, became a reality earlier this month when the European Central Bank took the helm of the Single Supervisory Mechanism. The next step, the Single Resolution Mechanism (SRM), is an effort to solve the problems of too-big- and too-interconnected-to-fail and cross-border crisis management in the eurozone.

China Is at a Critical Tipping Point

Asia Pacific
Nouriel Roubini: China Is at a Critical Tipping Point
China's growth model is not sustainable but many of the
necessary reforms are on hold. "President Xi first wants to
consolidate his power, before tackling them," says economist
Nouriel Roubini. Watch our exclusive video interview to find out
more.
China's growth has been slowing down. Why do you think this slowdown will continue?
Nouriel Roubini: Even the Chinese authorities realize that their growth model, which contains

EU top court set to throw out UK bank bonus challenge

BRUSSELS - The UK is set to lose its legal battle to overturn EU rules capping bank bonuses after a top legal officer in the European Court of Justice (ECJ) said London's case had "no legitimate grounds".

The rules, which came into force this year, limit bankers' bonuses to the equivalent of their salary. Payments worth up to two times salary may be permitted but only on the basis of a vote by shareholders. 

HSBC's private banking arm accused of tax fraud by Belgium

Authorities in Brussels have charged HSBC's private banking arm, which is based in Switzerland, with helping wealthy Belgians to avoid taxes.

Prosecutors allege that hundreds of clients - including diamond dealers in Antwerp - moved money to offshore tax havens with the help of the bank.

They said it resulted in hundreds of millions of euros in lost tax revenue.

In August, HSBC warned that the penalties in relation to such allegations "could be significant".

Spain: 3 more people with Ebola-like symptoms hospitalised

Three more people showing Ebola-like symptoms have been hospitalised in Madrid, bringing the total to six. One of those six is Teresa Romero, the Spanish nurse who was infected with Ebola.

More than 50 other people are being monitored by Spanish authorities, as anger spreads about how Romero was able to contract the virus.

The nurse told a local broadcaster on Wednesday that she was starting to feel better.

Five people are hospitalised in Spain after a nurse contracts Ebola in Madrid

   

Five people have been hospitalised in Spain after a nurse contracted Ebola after caring for a victim transported back from West Africa.

Madrid health officials have released a video of the room being cleaned where the victim died to show precautions are being taken to prevent the virus spreading.

The nurse who tested positive on Monday is the first person to become infected in Europe.

Four others who have been in contact with her are being monitored in hospital including the nurse’s husband.

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