BUSINESS LIVE: Banks under pressure on Natwest prosecution; Job market shrugs off end of furlough; Royal Mail to buy Canadian logistics firm
The successful prosecution of Natwest over money laundering failings will act as a stark warning to banks, according to City lawyers.
In a case brought by the Financial Conduct Authority, Natwest was charged after failing to prevent £365million of money allegedly being laundered by a single customer.
The end of the Government’s furlough scheme did not lead to a significant rise in job losses, figures suggested yesterday, with the number of firms planning redundancies remaining close to record lows.
MPs, unions and think tanks had warned of hundreds of thousands of redundancies when the scheme closed at the end of September.
Royal Mail’s ground-based parcel network GLS will buy Canada’s Rosenau Transport for $360million, as it looks to expand its freight carrier services.
GLS CEO Martin Seidenberg said the deal would strengthen the group’s growth plans.
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