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The EU has reached a deal to give the US a larger share of Europe’s beef market. The agreement means the US will now secure a guaranteed 18,500 tonnes of the 45,000-tonne quota for hormone-free beef, with that number rising to 35,000 tonnes after seven years. It will reduce the amount of the quota other suppliers like Australia, Uruguay and Argentina…
The move comes after the country’s oldest lender was linked to money laundering at Danske Bank, and is a “consequence of the ongoing internal investigation”. Swedbank CEO Birgitte Bonnesen was fired in March for misleading the public about the seriousness of the case. Swedbank is alleged to have handled up to €20 billion in suspicious payments yearly between 2010 and 2016 in Estonia.
In a bid to compete with Airbnb, Marriott International is set to offer home rentals in Europe, the US and Latin America.  The move, starting as early as next month following a successful European pilot, will make the world's largest hotel operator the first to offer home rentals. Both Hilton and Hyatt chains are said to be mulling a similar concept,…
Emmanuel Macron announced widespread tax cuts for middle class earners, but says French people need to “work more”. The €5 billion cuts will be financed by eliminating corporate tax breaks, working longer hours and reductions in public spending. Macron also said French citizens will need to contribute longer to the pensions system before retiring. He also promised higher education for adults to improve their…
Deutsche Bank is facing fines and legal action over its role in a $20bn Russian money-laundering scheme. The bank admits there is a high risk that regulators in the US and UK will take “significant disciplinary action” against it. Deutsche Bank was linked to a money-laundering operation, dubbed the Global Laundromat, through which Russian criminals moved money into the western financial system.
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