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Standard Chartered PLC

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  • BRUSSELS/ LONDON, Nov 20- Britain suffered an embarrassing defeat in its attempt to block the European Union's new limits on bank bonuses on Thursday, withdrawing its legal challenge after an adviser to the bloc's top court made clear it was unlikely to succeed. Britain, home to the City of London where most of the bankers hit by the cap are based, said the law would...

  • BRUSSELS/ LONDON, Nov 20- Britain's relations with the European Union took another knock on Thursday when its legal challenge to a limit on bankers' bonuses was rejected by an adviser to the bloc's top court. Britain, home to the City of London where most of the bankers hit by the cap are based, said the law would push up fixed pay and goes beyond the EU's powers, a...

  • *Ghana seeks provisional IMF deal this week- senior official. ACCRA, Nov 19- Ghana aims to narrow its budget deficit to 6.5 percent of GDP in 2015, from a projected 9.6 percent this year, as it seeks a financial assistance deal with the IMF, Finance Minister Seth Terkper said in his budget speech on Wednesday. The hoped-for three-year deal with the International...

  • LONDON, Nov 17- Most base metals were steady or firmer on Monday, supported by forecasts for developing shortages, but news that Japan had slipped into recession capped the upside. "On a fundamental basis, we continue to think that metals with deficits will still be able to outperform," said Nicholas Snowdon, metals analyst at Standard Chartered in London.

  • HONG KONG, Nov 13- As a landmark investment scheme that links stock markets in Shanghai and Hong Kong draws nearer, the de facto central bank of the world's largest offshore yuan hub has rolled out a series of measures to ensure sufficient yuan liquidity. The move will make it a lot easier for retail investors to put money into yuan assets and participate in the...

  • Global banks entering higher-stake phase of forex probes Wednesday, 12 Nov 2014 | 7:36 PM ET

    WASHINGTON/ NEW YORK, Nov 12- The $4.3 billion in civil settlements struck Wednesday between six global banks and U.S. and U.K. authorities over foreign exchange market manipulation sets the stage for negotiations over related ongoing probes that could bear much more severe consequences. Citigroup, UBS, HSBC, Royal Bank of Scotland, JPMorgan Chase& Co and Bank of...

  • LONDON/ NEW YORK, Nov 12- Barclays did not join a $3.4 billion settlement over alleged manipulation of foreign exchange rates because of issues with its New York regulator, people familiar with the matter said. Barclays is overseen in New York by the Department of Financial Services, unlike five other banks which settled with British, U.S. and Swiss regulators.

  • LONDON, Nov 11- Asia- focused bank Standard Chartered plans to cut up to 100 retail branches in 2015, or 8 percent of its network, to help save $400 million a year to improve profitability. Ten years of record earnings for Standard Chartered came to an abrupt halt in summer 2012 when it had to pay $667 million for violating U.S. sanctions on Iran. Standard Chartered...

  • LONDON, Nov 11- Standard Chartered plans to cut 80-100 retail branches in 2015 as part of its plan to save $400 million a year to improve profitability, according to slides the Asia- focused bank released on an investor roadshow. Standard Chartered said in the slides its retail bank's potential returns were being held back by high costs. It had 1,248 branches at the...

  • NEW YORK, Nov 10- Wounded U.S. veterans and family members of U.S. soldiers killed in Iraq sued five European banks on Monday, seeking to hold them responsible for shootings and roadside bombings because they allegedly processed Iranian money that paid for the attacks. The lawsuit filed in U.S. District Court in Brooklyn, New York, named Barclays Plc, Credit Suisse...

  • U.S. rules would expand white collar crime informers Monday, 10 Nov 2014 | 11:11 AM ET

    WASHINGTON, Nov 10- U.S. regulators are working on rules that would require investment advisers, credit card firms and check cashers, among others, to serve as informers on white collar crime, a senior U.S. official said on Monday. "If we are to be as effective as possible in countering illicit finance, we must begin applying appropriate record-keeping, reporting and...

  • NEW YORK, Nov 10- Wounded U.S. veterans and family members of U.S. soldiers killed in Iraq sued five European banks on Monday, seeking to hold them responsible for shootings and roadside bombings because they allegedly processed Iranian money that paid for the attacks. The lawsuit was filed in U.S. District Court in Brooklyn, New York, by lawyers with expertise in...

  • *Dollar/yen not far from recent 7- year highs. LONDON, Nov 7- The dollar firmed to near a 4-1/ 2 year high against a basket of currencies on Friday, with its near-term fortunes hinging on whether U.S. jobs data due later in the day will endorse optimism about the U.S. economy. The dollar index touched a high of 88.174, its strongest level since June 2010.

  • *Dollar stands tall ahead of U.S. jobs data. SINGAPORE/ TOKYO, Nov 7- The dollar set a fresh four-year high against a basket of major currencies on Friday, with its near-term fortunes hinging on whether U.S. jobs data will add to or temper optimism about the U.S. economy's outlook. The dollar index touched a high of 88.174, its strongest level since June 2010.

  • *Dollar index holds firm near 4- year high. SINGAPORE/ TOKYO, Nov 7- The dollar held near a four-year high against a basket of major currencies on Friday, with its near-term fortunes hinging on whether U.S. jobs data will add to or temper optimism about the U.S. economy's outlook. The dollar index edged up 0.1 percent to 88.096, holding near Thursday's peak of 88.146,...

  • HONG KONG, Nov 6- The global journey of the Chinese currency is set to enter a new stage with the first yuan clearing bank in the Americas, to be launched in Canada soon, boding well for the growth of a yuan deposit pool and investor participation there. Canada is expected to finalise the creation of a yuan clearing center, sources familiar with the government's talks...

  • *Nigeria still has relatively low sovereign debt. Nov 5- A sharp drop in global oil prices has raised the twin specters of a potential currency devaluation and budget shortfalls in Nigeria just as Africa's biggest economy gears up for a closely fought and costly presidential election in February. Nigeria, the continent's top producer, relies on oil for only 14...

  • LONDON, Nov 4- The over-zealous application of anti-money laundering rules is hampering British banks abroad and cutting off poorer countries from global financial markets, a top Bank of England regulator said on Tuesday. British banks including HSBC, Standard Chartered and RBS have been fined hundreds of millions of dollars by U.S. regulators in recent...

  • In a series of private meetings from Madrid to Cancun, ministers from Saudi Arabia, Venezuela and Mexico set aside months of acrimony to hammer out production cuts. If anything, Naimi may simply seek to explain Saudi Arabia's latest stance on the market, a tough message about how all big producers must be prepared to endure a period of lower prices in order to slow...

  • *HSBC makes $378 mln provision for UK FX riggin probe. LONDON, Nov 3- HSBC's profits fell short of expectations in the third quarter after the bank set aside $1.8 billion for misconduct settlements and compensation for customers, including a potential fine for rigging currency markets. The provision and a jump in HSBC's everyday compliance costs show the impact...