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Standard Chartered PLC

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  • LONDON, May 26- Britain's top banks will be tested this year for their ability to cope with the type of market mayhem that followed the collapse of U.S. bank Lehman Brothers in 2008, the Bank of England said on Tuesday. Bank of England Deputy Governor Andrew Bailey, who also heads the central bank's Prudential Regulatory Authority, spoke last week of the need to look...

  • LONDON, May 26- Britain's top banks will be tested this year for their ability to cope with the type of market mayhem that followed the collapse of U.S. bank Lehman Brothers in 2008, the Bank of England said on Tuesday. Bank of England Deputy Governor Andrew Bailey, who also heads the central bank's Prudential Regulatory Authority, spoke last week of the need to look...

  • "With the negotiations between Greece and the rest of the euro area at an impasse, an impatient German Chancellor Merkel has warned that an agreement must be reached before the end of the month," said Thomas Costerg, senior economist at Standard Chartered. Greece cannot make a payment to the International Monetary Fund due on June 5 unless foreign lenders...

  • SINGAPORE/ TOKYO, May 22- The dollar edged lower versus a basket of major currencies on Friday in the wake of unimpressive U.S. economic data, with investors awaiting speeches by major central bankers. Against the yen, the dollar sagged slightly after the Bank of Japan maintained its massive monetary stimulus, as expected, and slightly revised up its assessment of...

  • HONG KONG, May 21- Hong Kong's sluggish primary market for offshore yuan bonds has received a boost from a regular customer, China's Ministry of Finance. The MOF this week completed the sale of 14 billion yuan in bonds, supporting development of the so-called dim sum bond market as it continues efforts to internationalize China's currency.

  • NEW YORK, May 20- Benjamin Lawsky is stepping down as New York state's top financial regulator in June, after four years of running the newly created agency and bringing cases against a variety of defendants on Wall Street. A former chief of staff for New York Governor Andrew Cuomo, Lawsky was nominated to be head of the NYSDFS by Cuomo in 2011. He grabbed headlines...

  • DUBAI, May 20- An $85 million loan taken out by a Ugandan bank this year points to an emerging trend in international capital markets: the rise of the Gulf as a syndicated loan market for Africa and Asia. Stanbic Bank Uganda originally intended to raise $75 million through the 18- month deal in January, but expanded that because of strong interest from banks wanting...

  • ABUJA, May 19- Nigeria's central bank kept its benchmark interest rate at 13 percent on Tuesday, stressing the need to preserve foreign exchange reserves that have been depleted in recent months to support a weaker naira. At the bank's first policy meeting since the shock election victory of Muhammadu Buhari, who takes office as president on May 29, Governor...

  • The banks being investigated are BNP Paribas, Citigroup, Barclays, JP Morgan, Investec, Standard Bank and Standard Chartered, the Competition Commission said on Tuesday. While similar foreign exchange price-fixing probes are underway in Europe, Asia and the United States, this is the first time regulators have investigated banks' trading in the South African...

  • Last month, solar producer Baoding Tianwei Baobian Electric became China's first ever state-owned company to default on a bond coupon payment, showing Beijing's increasing willingness to let companies go bust in a bid to reform its corporate market. Although onshore and offshore bondholders have equal standing in China's bankruptcy law, lawyers and...

  • LONDON, May 17- Regulators are worried that patchy application in Europe and beyond of new rules to solve the problem of banks that are "too big to fail" could make it harder to avoid a repeat of the mayhem that followed the collapse of Lehman Brothers. They point to likely inconsistencies in how banks will be treated under the rules that are being written, not only...

  • WASHINGTON/ NEW YORK, May 14- Major banks wary of heavy U.S. penalties will be reluctant to restore ties with Iran even if sanctions are lifted in a possible nuclear deal, bank executives and advisers say, likely denting Iran's ambition to attract foreign investment to revive its crippled economy. After years of being frozen out of the global banking system and...

  • WASHINGTON, May 13- U.S. retail sales were flat in April as households cut back on purchases of automobiles and other big-ticket items, the latest sign the economy was struggling to rebound strongly after barely growing in the first quarter. The weaker-than-expected retail sales report from the Commerce Department, and other data on Wednesday showing the 10th...

  • Ghana power blackouts add to nation's economic woes Wednesday, 13 May 2015 | 7:09 AM ET

    *President vows to fix energy crisis. ACCRA, May 13- Joseph Nyame was doing very well as senior plant operator at the Sha-Sha Natural Fruit Juice company near Ghana's capital Accra until a wave of power cuts forced the firm out of business. Economic growth in Ghana, once a favorite of investors in Africa, has been slowed by a fiscal crisis that has forced the...

  • FOREX-Dollar falters before U.S. data, euro edges higher Wednesday, 13 May 2015 | 1:32 AM ET

    SINGAPORE/ SYDNEY, May 13- The dollar slipped against a basket of major currencies on Wednesday, with the near-term focus on whether U.S. retail sales data will point to a pick-up in U.S. growth after a weak first quarter. The euro edged higher, rising 0.3 percent to $1.1249, supported by recent rises in euro zone yields. The euro no longer seems to be a one-way bet, and now...

  • *Shares in Barclays up 5.7 percent. *Shares in StanChart up 1.4 pct, HSBC up 1.1 pct. HSBC and Standard Chartered rose by 1.1 percent and 1.4 percent respectively.

  • HONG KONG, May 7- Companies around the globe are gradually switching settlement of some trade transactions into yuan, but complex regulations in China remain a barrier to using the currency more readily. The survey questioned 1,610 international companies during January and February currently doing business with mainland China, or were a business in...

  • *HSBC, Standard Chartered fear further tax hike. LONDON, May 6- Lack of a clear winner in Britain's national election on Thursday is likely to impact the appetite of businesses to borrow, senior bankers told Reuters. Both the Conservative Party, which has led a coalition government with the Liberal Democrats for the past five years, and the opposition Labour Party...

  • LONDON, May 6- Standard Chartered said it expected Britain to increase its bank levy again and the rising cost of the tax was a key issue in its assessment of whether to keep its headquarters in London or move to Asia. Standard Chartered Chairman John Peace told investors on Wednesday the Asia- focused bank had "no current plans to move" but was keeping its domicile...

  • LONDON, May 3- In 1990, an assessment called Project Rainbow paved the way for HSBC to move from Hong Kong to Britain. Project Rainbow assessed HSBC's future base by considering whether it was operationally effective, tax efficient, politically acceptable, consistent with bank regulatory requirements, in the best interests of shareholders and compatible...