Peruvian requests compensation for contribution to climate change by RWE

It is a precedent case: A Peruvian requests compensation by RWE for its contribution to melting glaciers in the Andes. The energy company releases the majority of greenhouse gases in comparison with other European firms. In case of a success the costs-by-cause principle would be used for the first time to compensate harmful activities.

The applicant is Saúl Luciano Lliuya, who works as a tourist guide and farmer in the city of Huaraz.   ... →

UBS pays 300 Million to German Tax authorities

UBS has settled with the German tax authorities to pay a 300 million euro fine, due to the suspicion they were aiding and abetting tax evasion. The prosecution has been investigating the Swiss bank since 2012. The investigation was instigated by the discovery of a CD containing details of UBS clients that was acquired by the German state of North Rhine-Westphalia.   ... →

Further billion dollar lawsuit against Deutsche Bank.

In March 2014, Facing Finance reported on the gold price manipulation of the LBMA (London Bullion Market Association) consisting of five international banks, Barclays, HSBC, Société Général, Bank of Nova Scotia and Deutche Bank. Initially Duetsche Bank refuted these allegations and were clear that they would defend themselves against these allegations. A few months later, and the bank has declared will conduct an internal review into gold price manipulation, in order to avoid sanctions.   ... →