UBS, Credit Agricole Lose Court Fight Over EU Bond Cartel Fines.

UBS Group AG and Credit Agricole SA lost a court battle against EU fines for a bond trading cartel involving Credit Suisse. The EU General Court upheld the European Commission's decision to fine the banks for colluding in trading U.S. bonds. The traders, known as "the Kumars," were accused of exchanging sensitive information and coordinating prices. The fines were lower than previous penalties due to the market's size, with Deutsche Bank AG avoiding a penalty by reporting the illegal behavior first. [Extracted from the article]

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