Central bankers gathered for a three-day meeting in Wyoming that will feature a potentially market-rattling speech by Fed Chair Janet Yellen.» Read More
The action, part of the Elliott's quest to recover around US $1.7 bn in claims from its decade-long dispute with the sovereign, will target financial institutions including Citigroup, HSBC and Standard Chartered, the source said.
SINGAPORE/ ZURICH Aug 22- Royal Bank of Scotland plc might split its international private bank into separate European and Asian divisions to attract Asian buyers who have the financial muscle for a deal but are reluctant to take on European client risk.
*Aims to challenge dominance of New York and London. The strong response from foreign players will boost efforts by China- also the world's biggest producer of gold- to gain pricing power over the metal and to challenge the dominance of London and New York in trading.
LONDON, Aug 21- Copper steadied on Thursday after U.S. data signaled a strengthening economy, but sluggish growth elsewhere in the world kept the metal under pressure.
LONDON, Aug 21- Standard Chartered on Thursday said it would work with regulators after the United Arab Emirates central bank warned it could face legal action after agreeing to close some customers' UAE accounts in an anti-money laundering settlement. "We have noted the announcement made by the UAE Central Bank.
ABU DHABI, Aug 21- Banking group Standard Chartered is liable to legal action in the United Arab Emirates after it agreed to close some customers' UAE accounts in an anti-money laundering settlement with U.S. regulators, the UAE central bank said on Thursday.
LONDON, Aug 21- Copper, aluminum and other base metals fell on Thursday after downbeat data on business activity in China and Europe, but investors were cautious about selling just a day after some were forced to bail out of short positions.
SYDNEY, Aug 21- London copper stayed around $7,000 a tonne mark on Thursday after a gauge on China's factory health showed growth slowed in August, denting optimism over demand fuelled by brightening prospects in the United States.
NEW YORK/ LONDON, Aug 20 (Reuters)- A $300 million fine on Standard Chartered for lapses in anti-money laundering controls has piled pressure on the bank's board, coming after a series of transgressions and a drop in earnings that had already prompted calls for change at the top.
*All eyes on Fed minutes, Jackson Hole speeches. WARSAW, Aug 20- The dollar reached an 11- month high against the euro and a basket of major currencies on Wednesday, buoyed by optimism over the health of the U.S. economy. The greenback broke through resistance around $1.3300 and last November's high of $1.3295 per euro in morning trade in Europe.
TOKYO/ SINGAPORE, Aug 20- The dollar touched an 11- month high against a basket of major currencies on Wednesday after positive U.S. housing data the previous day fed hopes that the world's biggest economy is strengthening.
NEW YORK, Aug 19- British banking company Standard Chartered Plc will pay a $300 million penalty and suspend or exit some important businesses after failing to weed out risky transactions that could be linked to money laundering.
ALBANY, N.Y.— Standard Chartered Bank reached an agreement with New York regulators to pay a $300 million penalty and suspend dollar exchanges through its New York branch for high-risk retail business clients at its SCB Hong Kong subsidiary.
NEW YORK, Aug 18- Standard Chartered Plc is close to a deal to pay between $200 million and $300 million to resolve allegations by New York's banking regulator that it failed to review high-risk transactions, two years after agreeing to reform its practices, a person familiar with the matter said on Monday.
In June 2013, Bank of Tokyo-Mitsubishi agreed to pay $250 million to New York State for deleting information from $100 billion in wire transfers that authorities could have used to police transactions with Iran and other sanctioned countries.
BEIJING, Aug 18- China's new home prices fell in July from June for a third straight month and price softness spread to more major cities, underlining a worsening property downturn despite efforts by many local governments to shore up the sector.
NEW YORK, Aug 15- Large global banks are facing increased pressure from U.S. regulators to clamp down on casino money-laundering as the government pushes the industry to police not only its own transactions but customers' as well.
BEIJING, Aug 14- China's surprisingly sharp and sudden drop in credit has strengthened the case for the central bank to cut interest rates, but policy insiders believe it will be reluctant to take more aggressive steps and for now will stick to more targeted measures.
Aug 11- Standard Chartered Plc will soon begin sifting through a mountain of data for signs of possible money laundering or other criminal activity, as a result of faults in the software critical to its anti-money laundering compliance program, two sources with knowledge of the matter said.
News of U.S. authorized air strikes in Iraq on Friday reaffirmed that geopolitical tensions will remain an overhang for markets for some time.