HSBC sets aside $378m for potential forex-rigging fines

HSBC has warned it is facing a $378m (£237m) penalty for rigging currency markets and a possible criminal investigation in France over alleged tax offences.

BNP, tax evasion: US still dictates its economic law

Although its diplomatic clout is compromised on several fronts, the United States still dictates its economic law around the globe and has even expanded its reach, at the risk of raising hackles.

Germany cancels Verizon contract over snooping fear

The German government has cancelled a contract with Verizon over concern that US firms may be giving data to US authorities.

JPMorgan nears $2 billion settlement in a case tied to Madoff: Reports

JPMorgan Chase & Co is nearing a $2 billion settlement with federal authorities to resolve suspicions that the bank ignored signs of Bernard Madoff's Ponzi scheme, the New York Times reported, citing people briefed on the case.

Microsoft releases data on US information requests

WASHINGTON: Microsoft has said it received between 6,000 and 7,000 criminal and national security requests from US authorities in the second half of last year related to 31,000 to 32,000 customer accounts.

Apple to face tax grilling

The Apple chief executive is likely to be asked to justify why his company reports a 25.2 per cent tax rate, yet pays 15 per cent to the US authorities and then sets aside additional cash for possible future tax liabilities.

HSBC raises money laundering provisions by $800m

HSBC bank has put aside a further $800m (£500m) to cover potential money-laundering fines in the US and has announced a fall in quarterly profits.