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Standard Chartered PLC

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  • LONDON, Nov 28- Ratings agency Standard& Poor's cut its credit rating on Standard Chartered for the first time in 20 years on Friday, citing the "tough period" the Asia- focused bank was going through and its weaker credit-worthiness. S&P cut its long-term issuer credit rating on Standard Chartered Plc to' A' from' A+', with a negative outlook-- a move that could make it more...

  • *Nigerian firms issued $5 billion hard currency bonds since 2007. Companies in Africa's largest economy have rushed in recent years to take advantage of rock-bottom global borrowing costs and investors' hunger for yield, selling some $5 billion in hard currency bonds since 2007, according to Thomson Reuters data. Of this more than $2 billion was raised this...

  • LAGOS, Nov 26- Nigeria's naira touched a record low against the dollar on Wednesday, a day after the central bank devalued the currency, complicating efforts to contain inflation before presidential elections early next year. The central bank devalued the naira by 8 percent and raised interest rates sharply on Tuesday, trying to stem losses to its foreign...

  • A reduction in the quota, likely to 29.5 million barrels per day, dismissing some price war fears and sparking a rally. We therefore do not expect the cartel to be able to prevent the price of a barrel of Brent from falling to $70 by the end of 2016, even if this is below OPEC's current comfort zone. " "With the decline in prices, the likelihood of OPEC announcing a...

  • *Citigroup, Deutsche Bank among banks picked. The sovereign, rated Caa1 by Moody's and B- by Standard& Poor's, has picked Citigroup, Deutsche Bank, Dubai Islamic Bank and Standard Chartered to arrange the roadshows and the possible deal, it showed. Pakistan will hold roadshows in the United Arab Emirates on Monday, before heading to London and Singapore on Tuesday,...

  • Nov 21- Bank of America has hired two U.S. government officials to join its financial crimes team, according to three people familiar with the matter, as banks are under increasing pressure to police their transactions for suspicious activity. Bank of America has hired Jaikumar Ramaswamy, who heads the U.S. Justice Department's asset forfeiture and money...

  • 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.

  • Can Asia’s pricey consumer plays keep rising? Thursday, 13 Nov 2014 | 5:39 PM ET

    Asia consumer stocks appear expensive, but some analysts think they can rise further, getting a boost from falling commodity prices.

  • 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 retreats from 4 1/2-year high Friday, 7 Nov 2014 | 2:53 PM ET

    The dollar slipped on Friday after a solid but below-expectation October U.S. jobs report.