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Tag: case

The case for and against gender quotas

The case for and against gender quotas

Finance
Why does the gender wage gap still exist? In Europe, gender quotas are old news. In 2003, Norway became the first country in the world to institute a gender quota for boards of directors, requiring listed companies to add female members to make up at least 40% of overall board representation. Other countries followed suit, including Belgium, France and Italy. But in the United States, companies are loathe to institute gender and diversity requirements for membership, even as representation numbers continue to lag. Margarethe Wiersema, professor of management at the University of California-Irvine, says the reason behind the hesitancy is very simple: Americans don't like being told what to do. "Europe is so far ahead of us. It's like we're in the Dark Ages on this," s...
Google case set to examine if EU data rules extend globally

Google case set to examine if EU data rules extend globally

Technology
Google is going to Europe's top court in its legal fight against an order requiring it to extend "right to be forgotten" rules to its search engines globally. The technology giant is set for a showdown at the European Union Court of Justice in Luxembourg on Tuesday with France's data privacy regulator over an order to remove search results worldwide upon request. The dispute pits data privacy concerns against the public's right to know, while also raising thorny questions about how to enforce differing legal jurisdictions when it comes to the borderless internet. The two sides will be seeking clarification on a 2015 decision by the French regulator requiring Google to remove results for all its search engines on request, and not just on European country sites like google.fr. Google decli...
HSBC to pay $765m to settle toxic mortgage case

HSBC to pay $765m to settle toxic mortgage case

Business
HSBC has agreed to pay $ 765m (£588m) to the US Department of Justice (DoJ) to settle a probe into the sale of mortgage-backed securities in the run-up to the financial crisis. It is the latest bank to settle claims of mis-selling toxic debt before the financial crisis.HSBC has paid a lot less than the Royal Bank of Scotland, which agreed to pay $ 4.9bn in May and Barclays' $ 2bn settlement with the DoJ in March.It had already set aside $ 897m in the first quarter for any potential settlements.The bank warned the "settlement-in-principle is subject to negotiation" and there was no "assurance that HSBC and the DoJ will agree on the final documentation".Europe's biggest bank made the announcement as it delivered a 4.6% rise in pretax profit for the first six months of t...
Harvey Weinstein seeks to dismiss case based on accuser's emails

Harvey Weinstein seeks to dismiss case based on accuser's emails

World
Hollywood producer Harvey Weinstein is seeking to get the criminal case against him thrown out of court. On Friday, his lawyers filed a defence motion citing dozens of "warm" emails they say Mr Weinstein received from one of his accusers after an alleged rape.His team argue prosecutors should have shared the evidence with the Grand Jury that indicted him. Mr Weinstein has pleaded not guilty to six charges involving three different women. The accuser in question has retained her anonymity. Mr Weinstein's lawyers say the case should be dismissed in its pre-trial stage, saying there had been a series of failings. Other objections included a lack of details on the timeline of an alleged assault in 2004, and the lack of advance warning from the District Attor...
Mallya case: ED using fugitive law may hit lenders' prospects

Mallya case: ED using fugitive law may hit lenders' prospects

Finance
The Enforcement Directorate (ED) may use the latest weapon in its armoury — the Fugitive Economic Offenders Ordinance — to deal with Vijay Mallya, a move that could hurt lenders’ efforts to recover dues from the businessman who fled the country more than two years ago. ED sources said the new fugitive law gives precedence to state dues over any claims under civil cases, including Mallya’s application to the Karnataka High Court seeking permission to repay banks by selling his assets seized by the agency that probes money-laundering cases. Indian banks are working closely with UK authorities to recover the maximum out of the assets owned by Mallya, after a British court allowed them to search and seize his properties. They are worried because the ED could stake claim on Mallya’s