The Central Bank has slapped a fine of almost €5.9m on Wells Fargo, the US banking giant which has a major European office in Ireland servicing US multinationals, for five “serious” breaches, including failing to properly report the amount of capital it had in the Irish bank.
Crude oil prices are likely to remain steady around current levels, as growing macro uncertainties, rising US output, and large availability of core Opec nations’ spare capacity will offset supply constraints from Iran and Venezuela, according to Goldman Sachs.
A recent report by Denise Braily, the President of Australian BFCSA (Banking & Finance Consumers Support Association), to a Royal Commission on banking provided a worrying picture of banking in Australia.
Britain is expected to choose a new central bank chief this year to succeed Canadian Mark Carney, who will step down in June 2019, three months after the country’s scheduled exit from the EU. No one has yet thrown their hat into the ring to succeed him, but there are numerous contenders.
Unilever agreed to buy a South Korean cosmetics maker for €2.27bn to gain a stronger foothold in the world’s fourth-largest skincare market, betting that the pop-culture-fuelled appeal of the country’s beauty products will outweigh concerns over regional tensions.