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Royal Bank of Scotland faces wider scandal over Libor rigging

RBS manipulated benchmark rate in more currencies than admitted, documents suggest By Mark Watts and Mike Yuille | 23 May 2016 “It provides a properly arguable foundation for PAG’s allegation that those at the highest level in the bank were aware of serious problems with Libor” – Sir Colin Birss, High Court judge Evidence that Libor rigging by the Royal […]

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RBS ‘at highest level’ knew of ‘serious problems’ with Libor

Case raises questions about bank’s ‘top management’ as well as trading floor – judge By Mark Watts and Mike Yuille | 23 May 2016 Documents forced out of the Royal Bank of Scotland led to an extraordinary accusation against it by a former business client. Not only did RBS mis-sell interest-rate swaps in relation to loans of around £71 million, […]

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John McDonnell to accuse oil giants of North Sea tax avoidance

George Osborne faces Labour challenge over Treasury’s revenue loss from lucrative fields By David Hencke and Mike Yuille | 9 May 2016 “The remaining profits are transferred by tax-free dividends until they reach Chevron subsidiaries in Delaware” – ITF report Chancellor George Osborne is to be challenged by his opposite number over claims of tax avoidance on oil […]

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Royal Bank of Scotland faces call to compensate GRG victims

FCA report on RBS scandal set to recommend scheme for fleeced ‘distressed’ businesses By Mike Yuille | 19 April 2016 “A compensation scheme will be a quicker and easier remedy than litigation” – Jonathan Hawker, RBS/GRG Business Action Group spokesman Bosses at the Royal Bank of Scotland face pressure to set up a compensation scheme after its restructuring […]

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BHP faces new criticism over probe into mine disaster in Brazil

Anglo-Australian company uses its corporate advisors for ‘independent’ investigation By David Pallister and Mike Yuille | 10 April 2016 “Perception will be shaped by the quality of the report when it is published” – BHP spokesman on “independent” investigation Anglo-Australian mining giant BHP Billiton faces fresh criticism for its part in Brazil’s worst environmental disaster by commissioning an investigation that […]

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Theresa May urged to up scrutiny of wealthy foreign investors

‘Panama papers’ reveal UK role in global corruption – Transparency International report By Mike Yuille | 7 April 2016 “The Panama papers have confirmed that the UK is a prime location for corrupt individuals who are looking to hide their illicit wealth.” – Rachel Davies, Transparency International Home secretary Theresa May is being urged to introduce “full transparency” […]

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Hackers to probe engine control units amid emissions scandal

ICCT hires computer whizz-kids to find out who besides VW uses ‘defeat devices’ in cars By Mike Yuille | 30 March 2016 “We want to develop tests that governments could use to find conclusively whether a defeat device is being used” – ICCT source Researchers who work for environmental regulators around the world are hiring computer hackers to […]

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EC research revealed scandal over car emissions five years ago

Diesel engines emitted 14 times limit for parts of ‘real-world trips’, tests in 2011 showed By Mike Yuille | 9 March 2016 “It was widely known for years that real emissions of cars were nowhere near the set targets” – Rebecca Harms, Green MEP European Commission technicians discovered in 2011 that in real-world tests diesel cars were […]

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EC probes another 300 ‘Google-style’ tax deals across Europe

Apple, Starbucks, Fiat, Amazon and McDonald’s face official claims of illegal ‘state aid’ By Mike Yuille | 10 February 2016 Around 300 “Google-style” sweetheart tax deals are under investigation across the European Union, Exaro can reveal. Sources at the European Commission confirmed to Exaro the number of “rulings” under scrutiny across all 28 EU states. One source said: […]

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‘Defeat devices’: EU ignored warnings over exhaust emissions

MEP issued clear public statement in 2012 to raise alarm about car industry’s test tricks By Mike Yuille | 8 January 2016 “We pointed out many times to the European Commission that vehicle manufacturers were cheating the emissions tests” – Aide to Janez Potocnik, former environment commissioner European leaders failed to tackle car makers over the cheating of […]