Tuesday, 11 December 2012

News Update - 11th December 2012

- HSBC has had to pay a USA money laundering penalties of £1.2billion the settlement is said to be the largest any bank had had to pay. The bank admitted to having poor money laundering controls with the chief executive Stuart Gulliver accepting responsibility for HSBC mistakes. The US senate said the UK bank had been serving drug barons and rogue nations. Directors of the the bank could have faces claims of their Directors and Officers Insurance policy.

- The recent proposed bill to allow police and intelligent services the power to monitor all internet use, is being opposed by all parties and some of their MP's. Nick Clegg said he will block the plans. The joint committee said that the draft bill games "insufficient attention to the duty to the respect the right of privacy."

- Richard Branson the virgin Boss gives BA Willie Walsh a million pound bet that his brand Virgin Atlantic will still be around in five years. After recent reports that Branson may sell some of his 51% stake.

- Petrol bombs and brick still raining down in Belfast and a police women narrowly escaped injury when a masked gang threw a petrol bomb inside an unmarked police car and this is all over whether a flag could fly over the city hall almost beyond belief, that this is worth rioting over.

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