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Prosecutors in Switzerland have filed charges against Credit Suisse and its owner UBS over alleged organisational “deficiencies” linked to a $7m (€6m) payment at the centre of the Mozambique $2bn (€1.72bn) “tuna bonds” scandal. The Office of the Attorney General said Credit Suisse, which was taken over by Swiss rival UBS in a state-engineered rescue in 2023, failed to maintain adequate controls and did not report the suspicious transaction until 2019. UBS said: “We firmly reject the Office of the Attorney General’s conclusions and will vigorously defend our position.” 

 

Financial Times

SWI swissinfo.ch

Wall Street Journal

The Guardian

The Bank of England plans to simplify capital requirements for banks, potentially unlocking £54bn for lending. A report from UK Finance indicates that banks currently hold a 17.2% capital ratio, exceeding the 14% deemed sufficient in 2015. Jonathan Pierce from Jefferies suggests this ratio could be reduced to between 13% and 13.5%. The Bank's Financial Policy Committee has been conducting a "refresh" of the rules since July and will publish the outcome of the six-month review this week. Sarah Breeden, deputy governor of the Bank, noted that the review will assess how capital buffers function, as excessive capital may hinder growth without enhancing financial stability. 

 

Financial Times

The I

The Sunday Times

BlackRock and MSC's bid for CK Hutchison's port terminal in Barcelona is set to undergo a full investigation by EU antitrust regulators, according to sources familiar with the matter. The investigation follows a preliminary review and may require concessions from the companies to secure approval for the deal, which is part of a larger bid for CK Hutchison's global port operations. The terminal at Barcelona is significant due to its capacity to handle mega-ships and its extensive rail facilities, making it a crucial asset in the context of EU competition concerns.

 

Reuters

Europe's financial stability hinges on the European Securities and Markets Authority (Esma) gaining direct supervisory power over large cross-border entities, according to Marie-Anne Barbat-Layani, chair of the Autorité des Marchés Financiers (AMF).

 

Financial Times

Italian regulators have given conditional approval to JD.com's bid to take over German electronics retailer Ceconomy. As part of the $2.5bn German-Chinese deal, MediaMarkt and Saturn brands operating in Italy through electronics retailer MediaWorld will be divested.

 

Reuters

Only 5% has been distributed of the €7.1bn awarded from the EU’s flagship innovation programme for cleantech because of the bureaucracy required to access the money, the Financial Times reports.

 

Financial Times

The London Stock Exchange (LSE) has expressed concerns about potential market abuse linked to bulletin board users and social media influencers. The issue is said to be discouraging companies from listing on the Alternative Investment Market (Aim). The LSE plans to report incidents to enforcement agencies and encourages companies to do the same. The number of Aim listings has significantly decreased, from 1,694 in 2007 to 625 this year. A spokesman for the FCA said: "Regardless of the way in which it has been done if someone knowingly shares false or misleading information about a publicly traded company, they’re potentially breaking the law."

 

The Times

The chairman of the UK's Office for Budget Responsibility (OBR) has resigned after the body "inadvertently" released details of finance minister Rachel Reeves’s Budget before she announced them. Richard Hughes took the hit a day before he was due to appear in front of the Treasury Select Committee to answer questions about the Budget. Conservative leader Kemi Badenoch said Hughes was being used by Rachel Reeves as a "human shield" to deflect from accusations she had misled the public on the size of the deficit.

 

Sky News

Bloomberg

Financial Times

The Daily Telegraph

The Financial Times reports on how lenders and private credit funds "are not so distinct . . . with banks extending hundreds of billions of dollars in financing that boosts private credit funds’ returns."

 

Financial Times

Airbus has reported quality issues affecting a limited number of fuselage panels on its A320 aircraft, complicating its goal to deliver around 820 jets by year-end. The company is inspecting all potentially affected aircraft, attributing the problem to a supplier quality issue. Airbus said: "The source of the issue has been identified, contained and all newly produced panels conform to all requirements." Following the news, shares fell over 9% before recovering slightly. The company is also dealing with a software update affecting 6,000 A320 jets, adding to existing supply chain challenges.

 

Financial Times

The Daily Telegraph

European firms are increasingly looking to relocate their supply chains outside of China due to the country's tightening export controls, with one in three member companies of the European Union Chamber of Commerce considering a shift in sourcing. A recent survey revealed that 40% of respondents experienced delays in the processing of export licences, raising concerns about production slowdowns and the overall impact on global trade. Jens Eskelund, chamber president, noted that these controls have added "more pressure to a global trade system that was already under a great deal of stress."

 

Reuters

Cyber insurer Beazley is pulling back from the market as it contends with rising claims and falling prices, even as rivals extend their bet on policies covering hacks and ransom demands.

 

Financial Times

The UK's Financial Conduct Authority (FCA) and the Bank of England were unaware of Revolut CEO Nik Storonsky changing his residency from the UK to the UAE until a Companies House filing revealed it. Revolut said: “Revolut operates across 39 markets and our CEO, Nik Storonsky, divides his time across the UK and our key international regions, reflecting the global nature of the business. There has been no change to his role or responsibilities at Revolut.” The fintech company, which is valued at $75bn, faces ongoing regulatory scrutiny regarding its operations and banking licence.

 

Financial Times

City AM

The Times

HICL Infrastructure has announced it will not proceed with its proposed combination with The Renewables Infrastructure Group announced on 17 November 2025, after HICL failed to secure sufficient shareholder support.

 

reNews

The International Spirits and Wines Association of India (ISWAI), which represents manufacturers including Diageo and Pernod Ricard, has launched legal action against Maharashtra state over a new policy which significantly increased taxes on premium liquor products in the affordable segment - those with production costs below 260 rupees ($3) a litre - with the exception of firms headquartered in the state with no foreign investment. Following the change, foreign firms have seen their taxes rise from 300% to 450%, while local firms will pay just 270%. The ISWAI said the state "has sought to grant an artificial competitive advantage to the preferred class".

 

Economic Times

The Netherlands must recruit workers from emerging countries such as Indonesia and Nigeria to avert an economic downturn, according to the government advisory body WRR. With over 50% of the Dutch population aged 50 or older, many sectors are struggling to find staff. “Our prosperity depends on having sufficient workers from other countries,” WRR researcher Gijsbert Werner said. “We need people. Who else is going to build the 100,000 homes a year that we need? The goods we buy also largely come from other countries, and manufacturers here use semi-finished goods from abroad.”

 

DutchNews.nl