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Danske CEO bows out over Dutch ABN money laundering inquiry By Reuters

By Anthony Deutsch and Nikolaj Skydsgaard AMSTERDAM/COPENHAGEN (Reuters) -Danske Bank's chief executive Chris Vogelzang, who was hired to help it recover from a multi-billion dollar money laundering scandal, resigned on Monday after Dutch authorities labelled him as a suspect in a separate case at ABN Amro. Vogelzang said he was quitting after the Dutch prosecution service said it was investigating three former board members at ABN. The Dutch bank also said it had reached a 480 million euro ($577 million) settlement over systematic failures to tackle money laundering. "I am very surprised by the decision by...

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UK regulator hires Legal & General IM’s Sacha Sadan for new sustainability role By Reuters

By Simon Jessop LONDON (Reuters) - Britain's financial markets regulator has hired one of the UK's most important corporate governance figures, Legal & General Investment Management's Sacha Sadan, to lead the development of its sustainable finance policy, it said on Monday. The Financial Conduct Authority said Sadan, who had served as head of investment stewardship with Britain's biggest asset manager for around a decade, will take up the newly created role of director of environment, social and governance this summer. The appointment follows a recent government decision to add a consideration of the UK target of...

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Tesla Trades Weaker After Crash Jolts Reputation of ‘Full Self-Driving’ Technology By Investing.com

By Dhirendra Tripathi Investing.com – Tesla (NASDAQ:TSLA) shares traded nearly 3% lower in Monday’s premarket after a fatal crash in Texas at the weekend involving the company’s 2019 Model S raised fresh questions about dented the EV maker’s ambition of successfully making a fully-autonomous vehicle. Harris County police said two people died when the Tesla car left the road and crashed into a tree. Neither man was sitting in the driver’s seat, suggesting that they had relied on the car’s ‘full self-driving’ software to navigate. Tesla has already told the National Highway Transportation Safety Authority that...

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UK intervenes in Nvidia’s takeover of ARM on national security grounds By Reuters

LONDON (Reuters) - Britain said on Monday it would intervene in SoftBank's sale of chip designer ARM Holdings (LON:ARM) to U.S. group Nvidia on national security grounds. Digital Secretary Oliver Dowden said: "Following careful consideration of the proposed takeover of ARM, I have today issued an intervention notice on national security grounds. "As a next step and to help me gather the relevant information, the UK’s independent competition authority will now prepare a report on the implications of the transaction, which will help inform any further decisions." ...

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ABN Amro to settle money laundering probe for $574 million By Reuters

By Anthony Deutsch and Bart H. Meijer AMSTERDAM (Reuters) - Dutch bank ABN Amro on Monday said it had reached a 480-million-euro ($574 million) settlement with prosecutors in the Netherlands over money laundering allegations, which will impact its first-quarter results. ABN Amro said in a statement it had agreed to pay a fine of 300 million euros and 180 million euros as disgorgement reflecting "the seriousness, scope and duration of the identified shortcomings" in combating money laundering. The prosecution service said in a statement its investigation was ongoing and that three former board members, who it...

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Euro zone current account surplus narrows in Feb By Reuters

FRANKFURT (Reuters) - The euro zone's current account surplus narrowed in February on lower net exports of goods and services, European Central Bank data showed on Monday. The bloc of 19 countries sharing the euro recorded a current account surplus of 25.9 billion euros in February, down from 34.7 billion euros in January, according to adjusted figures. Based on unadjusted data, the surplus widened to 13.3 billion euros from 5.6 billion euros. In the 12 months to February, the current account surplus widened to 2.3% of the bloc's GDP from 2.2% in the preceding 12...

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Crypto Dip, Pandemic Surge, Soccer Breakaway – What’s Moving Markets By Investing.com

By Geoffrey Smith  Investing.com -- Cryptocurrencies recover – a bit – after a sharp correction over the weekend with obscure origins. The pandemic worsens in India and other emerging markets, but the dollar is nonetheless weakening as investors bet on global growth recovering. Coca Cola and IBM start a heavy week for earnings, Tesla (NASDAQ:TSLA)'s self-driving software is under scrutiny after a fatal accident, and Europe’s richest soccer clubs squeeze UEFA for more money to cover their rising debts. Here’s what you need to know in financial markets on Monday, April 19th. 1 Crypto recovers...

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India shares lower at close of trade; Nifty 50 down 1.77% By Investing.com

Investing.com – India equities were lower at the close on Monday, as losses in the Real Estate, Capital Goods and Public Sector Undertakings sectors propelled shares lower. At the close in NSE, the Nifty 50 lost 1.77%, while the BSE Sensex 30 index lost 1.81%. The biggest gainers of the session on the Nifty 50 were Dr. Reddy’s Laboratories Ltd (NS:REDY), which rose 2.28% or 111.45 points to trade at 5004.70 at the close. Cipla Ltd. (NS:CIPL) added 1.27% or 11.95 points to end at 950.00 and Britannia Industries Ltd (NS:BRIT) was...

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Air France-KLM eyes further recapitalisation in 2021 By Reuters

PARIS (Reuters) - Air France-KLM may raise additional capital to bolster its balance sheet as travel begins to recover from the COVID-19 pandemic in coming months, Chief Executive Ben Smith said. Smith, speaking at an online industry event on Monday as a 1 billion euro ($1.2 billion) share issue by the airline group nears completion, signalled that it could move relatively quickly to seek more funds and reduce debt. "We do have heavy debt that is holding back our balance sheet, so this may have to get looked at again later in the year," he said,...

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Coca-Cola Earnings, Revenue beat in Q1 By Investing.com

Coca-Cola (NYSE:KO) reported on Monday first quarter earnings that beat analysts' forecasts and revenue that topped expectations. Coca-Cola announced earnings per share of $0.55 on revenue of $9.00B. Analysts polled by Investing.com anticipated EPS of $0.5034 on revenue of $8.63B. Coca-Cola shares are down 2% from the beginning of the year and are trading at $53.68 , down-from-52-week-high.They are under-performing the S&P 500 which is up 11.43% from the start of the year. Coca-Cola follows other major Consumer/Non-Cyclical sector earnings this month Coca-Cola's report follows an earnings beat by PepsiCo on Thursday,...

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