Reuters first reported Thursday that EU officials are scaling back a transaction tax proposal supported by 11 countries that is supposed to take effect in January.
As well as finding that Deutsche Bank did not adequately explain the transaction, the court said there was a conflict of interest as it was both advising and, in effect, betting against its client.
Rather than running his showroom like an office, he ushers clients toward his 1960s Willy Rizzo desk, from which he offers coffee and cigarettes. (This might be the only store in London where customers are free to smoke.) The overall effect feels more like catching up with a friend in a drawing room than conducting a business transaction.