EU tax-dodging probe tackles Belgium
The European Union probe into tax-dodging multinationals moved into Belgium on Tuesday, where regulators believe the tax code gives an unfair tax break to multinational groups over other firms.
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Foreign fintech firms shut out by Chinese regulations
Tech companies are showing concern over regulations requiring firms selling computer equipment to Chinese banks to reveal secret source code and build back doors into their products.
“Free” bank accounts are unsustainable, says PwC
Offering free bank accounts is an unsustainable practice that increases the likelihood that British banks will try and squeeze profits from customers elsewhere, PwC has argued.
Yuan breaks into top five international payments currencies
China’s yuan has become the fifth most used currency for international payments, passing the Canadian and Australian dollars in just two months.
MasterCard reaches deal on Russian payment processing
MasterCard has reached a deal with Russian authorities to process payments using the country’s state-owned system.
Charter Savings to join UK challenger banks with online-only offering
Charter Savings Bank is due to join other UK challenger banks in the UK come spring as an online-only savings bank.
Tencent launches China’s first private online bank
Top Chinese internet company Tencent has launched the country’s first private online bank, called WeBank after the company’s popular messaging app WeChat.
