logo
Plus   Neg
Share
Email

Julius Baer Reaches Agreement In Principle To Settle Investigation In FIFA Matter

Julius Baer (JBARF.PK,JBAXY.PK) said the company has reached an agreement in principle with the U.S. Department of Justice, resolving the investigation of the Bank's role in FIFA matter in the US. Julius Baer expects it will execute a final resolution in the matter with the DOJ shortly.

The agreement entails Julius Baer entering into a three-year deferred prosecution agreement and a financial component. The Group has taken a provision of $79.7 million, which will be reflected in its 2020 results.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Brazos Electric Power Cooperative Inc., the largest power generation and transmission cooperative in Texas, filed for Chapter 11 bankruptcy protection citing a huge bill from the state's grid operator following major outages recently amid the winter storm. Brazos received a $1.8 billion bill from electricity grid operator Electric Reliability Council of Texas or ERCOT. El Abuelito Cheese is recalling certain types of cheese and cheese products for fear of potential contamination with Listeria Monocytogenes, a deadly bacteria, the U.S. Food & Drug Administration said in a statement. The recall involves Queso Fresco (Fresh, soft cheese), Quesillo (Oaxaca, string cheese), and Requeson (Ricotta) products. Technology company CAE Inc. (CAE.TO, CAE) agreed Monday to acquire the military training division of aerospace and defense technology firm L3Harris Technologies Inc. (LHX) for $1.05 billion, subject to customary adjustments. The acquisition will expand CAE's position as a platform-agnostic training...
RELATED NEWS
Follow RTT