HSBC is set to cut around 35,000 jobs after announcing a major slump in profits for 2019.
According to Linklaters’ 2019 data, green bond borrowing reached a global all-time high, having raised a total of US$185bn worldwide. The Financial Times further reports sustainability-linked loans have seen similar growth rates, with a whopping 250% increase in global loan borrowing last year.
Involving an extensive network of bankers, tax lawyers and traders (dubbed by Danish Broadcasting Corporation the men who plundered Europe) the CumEx scandal refers to a tax fraud scheme that was purportedly operated across a large number of European countries. It may have netted its operatives upwards of €60 billion.
The French finance minister, Bruno Le Maire, said France will block the development of Facebook’s Libra cryptocurrency in Europe until the concerns over the risk to consumers and the government’s monetary sovereignty were addressed.