Geneva-based HSBC Private Bank said it will pay 300 million euros to French authorities to put aside allegations that it lured wealthy French tax dodgers with offshore accounts to hide their funds.
HSBC's Swiss bank was under investigation over helping clients to illegally avoid paying taxes worth 1.6 billion euros ($1.9 billion) to the French government in 2006 and 2007.
However, HSBC Switzerland announced on Tuesday that the settlement did not mean that the bank was guilty. Other countries such as Argentina, Belgium, Spain and the United States also started investigations. French authorities said they discovered the assets after seizing computer documents found at the French home of a former HSBC employee in 2009. The bank says it has since taken measures to prevent tax fraud.
HSBC has admitted that the private Swiss bank made mistakes.
The fine had been fully provisioned, the lender added.
In 2014, French financial prosecutor launched a probe over HSBC Private Bank on charges of "illegal banking and financial solicitation" and "aggravated money laundering".
Solar Industries India today reported a 24 per cent increase in its net profit at Rs 45.74 crore for the September quarter. The gas utility marketed 5 per cent more gas by volume during the quarter in consideration, the statement said.
Ms McGowan reportedly reached a settlement with Weinstein after a hotel room encounter during the Sundance Film Festival. Rose McGowan turned herself into authorities Tuesday on an arrest warrant for drug possession, Page Six has confirmed.
Virtual stores are also a preferred route for USA retailers to enter new countries where they don't have operations. The world's largest retailer is offering department store chain Lord & Taylor dedicated space on its website.
My coach growing up nicknamed me "Showtime" because I love playing in front of people, and there is always a lot going on. Jack Sock has revealed that he was forced out of his room at 4am on Tuesday morning due to a fire alarm at his hotel.
SEGA has officially announced the first entry in its Total War spin-off series , which pits the Vikings against Great Britain. According to the press release, this will be the most detailed Total War campaign map ever made.
Remember, these prices start to go live on November 17 , and more will open up at various dates and times in the days to follow. We'll round up all the deals on the Switch console, plus the best prices on memory cards and Switch games.
Robeco Institutional Asset Mgmt Bv stated it has 1.23 million shares. 115 were accumulated by Tci Wealth Advisors Incorporated. Chou holds 193,016 (0.27% of shares outstanding) and Alan Bruce Schindler holds 154,413 (0.22% of shares outstanding).
She shared a story of a male lawmaker - still in Congress - who asked a young female staffer to bring materials to his residence. The House may soon follow. "There is no place for sexual harassment in our society, period".
Zendaya to star in movie A White Lie
The 21-year-old star launched her acting career by landing the role of Rocky Blue in Disney Channel sitcom Shake It Up . Zendaya will also produce the film, alongside Witherspoon and Lauren Neustadter .
Taylor Swift sets 'Reputation' tour dates
So basically, when it comes to burning up the Billboard album charts, Taylor Swift is mainly in competition with herself. Swift reportedly kept " Reputation " off streaming services like Apple Music and Spotify for the first week of release.
Include Bharat-22 ETF in your satellite portfolio
Among non-anchor investors, retail investors can apply for Rs 5,000 and in multiples of Rs 1 thereafter up to Rs 2 lakh. In case of spill-over, additional portion will be allocated giving preference to retail and retirement funds.
Eve Joins CBS' 'The Talk'
She is married to British entrepreneur Maximillion Copper and is stepmother to his four children. "I feel like we're dating now". Eve joins Julie Chen , Sharon Osbourne , Sara Gilbert , and Sheryl Underwood at the co-hosts table.
Olly Murs and Melanie Skyes are dating
Posting a picture of Olly's track Flaws , she wrote: "Love this track @ollymurs you sound like an angel makes me want to cry x". Melanie, meanwhile, shares two children - Roman, 15, and Valentino, 12 - from her first marriage to actor Daniel Caltagirone .
FDA chief warns about kratom to treat opioid addiction
It asked the FDA to expedite a scientific and medical evaluation and a recommendation for how to handle the compounds in kratom. It's taken recreationally for its euphoric effects, as a dietary supplement, to treat anxiety and depression, and more.
Apple Watch Can Detect Hypertension And Sleep Apnea
If Cardiogram and Saxon are right, medical-grade notifications may soon nestle among those for our Snaps, likes, and texts. Sleep apnea was detected in more than 1,016 participants, while hypertension was identified in 2,230 participants.