Legal

Under new rules, the eight biggest US banks have until 2018 to boost their capital by $68bn, say US regulators, who are still tightening policy in the wake of the financial crisis

Big US banks protest against call for higher capital levels

Under new rules, the eight biggest US banks have until 2018 to boost their capital by $68bn, say US regulators, who are still tightening policy in the wake of the financial crisis

US banks have decried the announcement that from 2018 new federal rules will require them to increase their capital levels to increase security and prevent a repeat of the financial crisis. The new rules require banks with more than $700bn in assets to...

Mary Barra attempted to calm safety concerns voiced by the public, though admitted that the underlying reasons for the late recall are yet to emerge

GM boss apologises for switch defect linked to 13 deaths

Mary Barra attempted to calm safety concerns voiced by the public, though admitted that the underlying reasons for the late recall are yet to emerge

At the start of April, GM executives faced a congressional hearing to answer for the company’s failure to recall faulty vehicles, despite reportedly having knowledge of the defects in question. Newly appointed chief executive Mary Barra was vocal in her...

The WTO has ruled against China for imposing restrictive rare earth export quotas that sent prices soaring and distorted the market

China loses trade case on rare earth materials

The WTO has ruled against China for imposing restrictive rare earth export quotas that sent prices soaring and distorted the market

China has broken international rules on exports of rare earth materials said the World Trade Organization after it ruled in favour of the US, Europe and Japan in a dispute over China’s export restrictions on rare earth. China imposed strict rare eart...

The world’s biggest retailer has sued Visa for $5bn in damages after it says that the credit card company hiked charges

Walmart sues Visa over artificially inflated card fees

The world’s biggest retailer has sued Visa for $5bn in damages after it says that the credit card company hiked charges

In the lawsuit, filed in US District Court for the Western District of Arkansas, where Walmart is headquartered, the firm claims that Visa charged the retailer with excessive swipe fees over nearly nine years between January 2004 and November 2012. Swipe ...

"JPMorgan – as an institution – failed and failed miserably,” said Preet Bharara, US Attorney for the Southern District of New York of JPMorgan’s involvement in Bernie Madoff’s $65bn Ponzi scheme

JPMorgan and Madoff’s epic Ponzi scheme

“JPMorgan – as an institution – failed and failed miserably,” said Preet Bharara, US Attorney for the Southern District of New York of JPMorgan’s involvement in Bernie Madoff’s $65bn Ponzi scheme

In the summer of 2009, a freshly convicted Bernie Madoff cut a forlorn shape on the courtroom floor, as he was finally held accountable for crimes that, in his own words, would leave a “legacy of shame” for those bearing his name. “I am embarrassed ...

The Japanese Health Ministry has filed a criminal complaint against the world’s second biggest pharmaceutical company Novartis following exaggerated advertising claims

Japan files criminal complaint against pharma giant

The Japanese Health Ministry has filed a criminal complaint against the world’s second biggest pharmaceutical company Novartis following exaggerated advertising claims

On January 9, the Japanese Health Ministry filed a criminal complaint against pharmaceutical company Novartis, calling for an investigation into the drug company’s local unit. It is suspected that falsified data was used in the clinical trial of Novarti...

World Finance interviews Luis Gerardo Del Valle Torres and Alejandro Aceves Perez, Managing Partner and Tax Partner of law firm Jauregui and Del Valle, on Mexico's imminent tax reforms

Luis Gerardo Del Valle and Alejandro Aceves Perez on tax reforms in Mexico | Jauregui and Del Valle | Video

World Finance interviews Luis Gerardo Del Valle Torres and Alejandro Aceves Perez, Managing Partner and Tax Partner of law firm Jauregui and Del Valle, on Mexico’s imminent tax reforms

Mexico’s economy has undergone drastic change in recent years. The government is now looking to pass several tax reforms. Luis Gerardo Del Valle Torres and Alejandro Aceves Perez, Managing Partner and Tax Partner of Jauregui and Del Valle, talk about th...

On the move: Turkey’s foreign direct investment market

Even political controversies in Turkey cannot stop its growing FDI market

Most economic experts are in agreement that Turkey has been playing an increasingly prominent role in the world economy, redefining itself as an attractive hub for foreign direct investment (FDI). The country is regularly talked about alongside the econom...

Gregory Joseph of Joseph Hage Aaronson advises on how legal professionals can keep abreast of industry changes

Evolving with the legal industry: JHA advises

Gregory Joseph of Joseph Hage Aaronson advises on how legal professionals can keep abreast of industry changes

The US and UK financial and legal landscapes have undergone quite considerable changes this past decade, asking that law firms adapt if they are to adequately serve an ever-evolving and increasingly demanding client base. Gregory Joseph, Managing Partner ...

Mexico divided over proposed tax reforms

Jáuregui and Del Valle, SC has decades of experience in Mexican tax consulting, as well as tax and administrative litigation. World Finance spoke to the company’s Managing Partner, Luis Gerardo Del Valle, about how it will handle forthcoming tax reforms

Mexico is a booming country. Its economy grew 3.6 percent in 2012, and is set to grow again this year, according to the IMF (see Fig. 1). In a world still reeling from economic turmoil, those are impressive figures. However, Mexico is a developing economy...

Mexico and US in deadlock over insolvency reforms

A recent dispute between the US and Mexico over the bankruptcy of a leading Mexican-based firm shows that the country urgently needs to update its insolvency laws

As Mexico surges towards becoming a modern, thriving economic hub, its legal processes must be brought up to date in order to ensure confidence from the business community. For a long time the country has offered considerable growth potential, but has suf...

Al-Twaijri Law Firm has been working since the late ’80s to help build and protect Kuwait’s economy. Managing Partner Mohammed Al-Twaijri looks ahead to what the future holds

Legislative changes to boost Kuwaiti economy

Al-Twaijri Law Firm has been working since the late ’80s to help build and protect Kuwait’s economy. Managing Partner Mohammed Al-Twaijri looks ahead to what the future holds

The Kuwaiti market is distinctive in nature. It is generally based on a free economy; however, the Kuwaiti Government has created a form of a luxury-based socialism since the declaration of independence from the United Kingdom in 1961. This trend had its ...

Danone to sue Fonterra over baby milk formula scare

French food group Danone intends to sue its primary dairy supplier Fonterra after a false alarm that instigated product recalls across multiple Asian countries, including China

After months of negotiations following the recall of its infant milk formulas last August, an unappeased Danone plans to sue its New Zealand based supplier Fonterra. The Paris-based food group intends to terminate the supply contract with the farming co-o...

World Finance interviews Safak Herdem, Managing Partner, and Altug Atilkan, Finance Expert, from Herdem and Co Attorneys at Law, on Turkey's approach to foreign direct investment

Safak Herdem and Altug Atilkan on Turkey | Herdem and Co

World Finance interviews Safak Herdem, Managing Partner, and Altug Atilkan, Finance Expert, from Herdem and Co Attorneys at Law, on Turkey’s approach to foreign direct investment

Having weathered the global financial crisis better than most, Turkey is now seen as a promising emerging market with large scope for investment. Safak Herdem and Altug Atilkan from Herdem and Co Attorneys at Law, an Istanbul-based corporate law firm whic...

World Finance interviews Vicente Sevilha, founder of Sevilha Contabilidade, on the legal challenges for international businesses entering Brazil

Vicente Sevhila on Brazilian Law | Sevilha Contabilidade

World Finance interviews Vicente Sevilha, founder of Sevilha Contabilidade, on the legal challenges for international businesses entering Brazil

Sevilha Contabilidade has been working over 25 years to help companies and entrepreneurs settle their businesses in Brazil. Its tax expert, founder and CEO Vicente Sevilha talks about the challenges for international businesses entering Brazil, the tax im...

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