Headlines - BAT pays $635mn penalty over North Korea sanctions breaches - UN refugee convention needs 'refreshing', says UK minister - ECB quizzes lenders over risk of Silicon Valley Bank-style losses - Murdoch group settled Prince William phone-hacking claim for 'very large' sum, UK court told - UAE investment group increases Vodafone stake amid scrutiny of board structure
Overview - British American Tobacco has agreed to pay a $635 million penalty to U.S. authorities after a subsidiary on Tuesday pleaded guilty to charges that it violated U.S. sanctions on North Korea, in the largest settlement of its kind. - The international conventions underpinning refugee rights must be "refreshed" for the 21st century, a UK Home Office minister has said, as the government prepares to push new legislation aimed at curbing irregular migration to its next parliamentary stage. - Europe's financial authorities are quizzing lenders about their exposure to rapidly rising interest rates, as they investigate how much this risk may spread beyond the banking sector. - Prince William agreed to settle a phone-hacking claim with Rupert Murdoch-owned UK-based News Group Newspapers, which publishes The Sun, in 2020 for a "very large" sum, the High Court in London heard on Tuesday. - United Arab Emirates investment group e& has increased its stake in Vodafone to 14.6% and has discussed the composition of its non-executive board, as the British telecoms company battles to convince investors it is on a path to improving its stuttering performance.
(Compiled by Bengaluru newsroom)
