Dec 17, 2021
HSBC fined £64m for anti-money laundering failings
HSBC did not dispute the FCA's findings and agreed to settle at the earliest possible opportunity, which meant it qualified for a 30 per cent discount, the FCA said. Platinum refiner Johnson Matthey has agreed to sell its pharmaceutical ingredients division to Altaris Capital Partners, the New York specialist private equity firm, for £325m. Matthey said it would keep approximately a 30 per cent equity stake in the health business and would book an impairment charge on disposal of about £200m. It targeted mid 2022 to complete the complex deal, which will involve just £150m of cash upfront alongside a £50m milestone payment and a deferred loan note. UK retail sales rose by a stronger-than-expected 1.4 per cent in November and were 4.7 per cent higher than a year earlier, the Office for National Statistics said. The average of economists estimates was for a 0.8 per cent rise on the month, Reuters said. President of Turkey Recep Tayyip Erdogan announced a 50 per cent rise in the minimum wage to protect citizens from soaring inflation, hours after the central bank cut interest rates for the fourth consecutive month.
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