Bankers that fail to report colleagues’ misconduct should be forced to pay back a portion of their bonuses, the Bank of England said as it seeks to rein in practices that tarnished the reputation of lenders.
Companies owned by billionaire Li Ka-shing’s Hutchison Whampoa Ltd. may lose a bid for tax relief on losses by its U.K. mobile phone unit because the parent company is situated outside the European Union, an adviser to the bloc’s top court said.
European Union lawyers gave the U.K. victories in fights over financial regulation that will boost the country’s standing in a power struggle over the future of banks and securities trading in the 28-nation bloc.
German soccer clubs may tap into revenue from the nation’s 7.8-billion euro ($10 billion) betting market when the European Court of Justice decides on the legality of the nation’s sports gambling laws next week.
A group of German plaintiffs led by Professor Markus Kerber said it filed a complaint asking the country’s highest court to await a European Court of Justice ruling on the euro region’s future permanent financial backstop before issuing its own opinion.