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BaFin said its critics had misunderstood the situation, and that supervisors and prosecutors played different roles. In January, BaFin president Felix Hufeld said the agency had found no evidence of substantial breaches of money laundering rules by the banks named in the Panama Papers. In September, BaFin ordered Deutsche Bank to do more to prevent money laundering and “terrorist financing,” and appointed KPMG as third party to assess progress. On Thursday, as the raids were going on, the vice chairman of supervision for the U.S. Federal Reserve, Randal Quarles, met Deutsche Bank management for an unrelated and previously scheduled appointment at the bank’s headquarters, a spokesman for the Fed said jcpenney cufflinks uk online. ($1 = 0.8805 euros)..
PARIS (Reuters) – French President Emmanuel Macron met Japanese Prime Minister Shinzo Abe and stressed that the Renault-Nissan (RENA.PA) (7201.T) alliance should be preserved, following Chairman Carlos Ghosn’s arrest in Tokyo, an Elysee official said on Friday jcpenney cufflinks uk online. During a bilateral meeting on the sidelines of a G20 gathering of global leaders in Argentina, Abe told Macron that “the legal process must be allowed to take its course”, the French official said. “For his part, (Macron) restated his firm wish that the alliance should be preserved, along with the stability of the group,” he added after the talks in Buenos Aires..
STOCKHOLM (Reuters) – SKF (SKFb.ST) has reached a settlement with Daimler (DAIGn.DE) over the Swedish engineering group’s alleged participation in a ball bearings cartel, drawing a line under its disputes with automakers over this issue jcpenney cufflinks uk online. The world’s largest maker of industrial bearings was sued by three carmakers after European Union antitrust regulators in March 2014 fined it and other suppliers a total of 953 million euros ($1.1 billion) for taking part in a ball bearings cartel. SKF said it had reached a confidential settlement with Daimler, having already resolved disputes with BMW (BMWG.DE) and France’s PSA Group (PEUP.PA)..
Daimler had asked for a payment of at least 59 million euros plus interest and reimbursement of costs, but SKF had argued that the activities sanctioned by the European Commission had not caused any damage to its business partners. SKF said on Friday the settlement would have an insignificant impact on its financial position and a spokesman said the settlement wasn’t more than the 59 million euros stated in Daimler’s original request. A Daimler spokesman confirmed a settlement had been reached but declined to give details of the settlement or make any further comment jcpenney cufflinks uk online.
MOSCOW (Reuters) – Russia’s energy minister Alexander Novak will meet his Saudi counterpart at the G20 summit in Argentina and discuss an oil output reduction in 2019, RIA news agency cited Novak as saying on Friday. He was also reported to have said that Russia’s 2019 oil output is expected at the same level as this year but could be adjusted, depending on a deal between OPEC and non-OPEC members. Producer group OPEC and its allies are meeting in Vienna next week to discuss oil production jcpenney cufflinks uk online.