Standard Chartered fined $300m for poor money laundering controls August 19, 2014 US authorities fined British bank Standard Chartered another $300m (£180.5m) last night, for failing properly to check transactions for evidence of money laundering. The charge, from the New York Department of Financial Services (DFS), comes two years after the same regulators fined the bank $340m for breaking sanctions with Iran. The DFS put monitors into the bank, [...]
This is how Apple kept the name of Apple Watch a secret September 15, 2014 How sure were we that the Apple Watch was going to be called the iWatch? Everyone was fairly confident Apple would go by previous form with its “i” nomenclature. Everyone was wrong. So just how did Apple keep the real name of its first smartwatch quiet for so long? The iWatch name first made an [...]
World Cup in brief June 15, 2014 Ronaldo fit to play Germany ■ PORTUGAL captain Cristiano Ronaldo has declared himself fit to take on Germany today following a recent knee injury. Ronaldo limped out of training on Friday with an ice pack on his left knee, but said last night: “I’m ready, I’m feeling well, I don’t have anything to prove.” Sanctions [...]
France reassures Israel on Iran November 18, 2013 President Francois Hollande told Israel yesterday that France would continue to oppose an easing of economic sanctions against Iran until it was convinced Tehran had given up any pursuit of nuclear weapons. “France will not give way on nuclear proliferation,” Hollande said at a welcoming ceremony at Tel Aviv airport. “So long as we are [...]
As the conflict in Gaza continues, are we seeing a realignment of the Middle East? July 31, 2014 Carly Beckerman-Boys, visiting fellow at the LSE’s Middle East Centre, says Yes. The Gaza conflict has shone a light onto heightened tensions and muscle flexing between regional Arab leaders. Their jockeying over whether to force or entice Hamas into a ceasefire has made old and new regional dividing lines far more visible. Egypt, Jordan and [...]
World Cup: Messi stars as planets align to aid Nigeria June 25, 2014 NIGERIA 2 ARGENTINA 3 BOSNIA 3 IRAN 1 NIGERIA coach Stephen Keshi hailed Lionel Messi as being “from Jupiter” after the world’s most gifted player scored two goals in a victory that confirmed Argentina as Group F winners last night. Messi lashed a fourth-minute opener and curled in a delicate free-kick just before half-time, though [...]
The drunken gambler syndrome: Why the West never learns from its failures December 7, 2014 Let's call it the drunken gambler’s theorem. It’s the reason casinos in Las Vegas stay in business, no matter what the economy does. “Just one more bet: this time will be the one to do it.” Gamblers delude themselves that, rather than throwing money away, they are making investments, and they’re certain to win because [...]
Oil prices slide to four-year low as Opec digs in October 14, 2014 Brent crude slid below $85 yesterday, marking a four-year low for the commodity, after the International Energy Agency (IEA) predicted that oil demand would expand slower this year than it had since 2009. In its oil market report for October, the stated that the Organisation of the Petroleum Exporting Countries’ (Opec) crude oil output [...]
Has the geopolitical crisis in Ukraine made Russia a no go zone for Western investors? September 7, 2014 Timothy Ash is head of emerging market research (excluding Africa) at Standard Bank, says Yes. As the West continues to shy away from Iran-style sanctions, which would ban secondary trading in debt and equity and thereby lock investors in positions, Russia is still technically investible. But it is a binary call on the country now [...]
The winners and losers from Iran nuclear deal November 25, 2013 While oil prices may decline and safe havens could lose favour, not everything hinges on diplomacy The Iranian nuclear agreement, struck in the early hours of Sunday morning, has been hailed as historic – laying the foundations for a more comprehensive deal in the next year. And markets have bought in to this optimism. Brent [...]