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Swedbank has stood down CEO Birgitte Bonnesen amid a €135 billion money-laundering scandal. The move comes a day after Swedish police raided the bank’s headquarters. Bonnesen’s ousting follows that of Danske Bank’s Thomas Borgen, who resigned after the lender admitted it let €200 billion of suspicious payments flow through its Estonian branch. 
Wednesday, 13 March 2019 11:53

EU ABONDED ITS PLANS FOR DIGITAL TAX

Member states failed to reach an agreement. Ministers will now work towards reforming digital taxation on a global level — spearheaded by the OECD — by 2020. The move to be welcomed by tech giants such as Google and Facebook, which faced a proposed 3% levy. France, Italy, Spain plan to introduce taxes on a national level.
Thursday, 07 March 2019 06:45

FRANCE UNVEILS 3% TAX ON DIGITAL GIANTS

It is the first in an expected wave of European levies aimed at big tech companies. The so-called GAFA tax — named after its targets Google, Apple, Facebook and Amazon — will apply to firms with global annual revenues of over €750 million and French revenues over €25 million. It’s expected to raise around €0.5B a year. The move comes amid…
Money sent home by Ukrainians working abroad totaled $5.5 billion during the first half of this year, up 31% year over year. For the 12 months ending in June, Ukrainians sent home $11 billion, the National Bank of Ukraine calculated. This is 10% of Ukraine’s $112 billion GDP.
The bank, nationalized in 2016, is holding a competition among Ukrainian and international companies. Privatbank has set a minimum $37M price for its share of the Radisson Blue Resort Bukovel hotel, and a minimum $78M price for its share of the Bukovel ski resort.
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