FTSE falls as market shows caution over further economic slowdown August 13, 2012 BRITAIN’S top shares fell in thin volume yesterday while investors were unnerved by signs the global economic slowdown is deepening and Europe’s response to its debt crisis may face political hurdles. Cyclical mining and oil & gas stocks weighed after data showed Japan’s economy expanded at half the pace expected in the second quarter and [...]
THE TIPSTER | Talvivaara wants to finish a bad Run August 13, 2012 SHAREHOLDERS of Finnish miner Talvivaara won’t like looking at a chart for the year – it shows a continuation of 2011’s sharp downtrend. The share price has recently plunged to new depths. Continual forecast downgrades and worries about commodity prices have hurt the stock, and it will take a significant turnaround in outlook for the [...]
Standard Chartered looks to clear up scandal at US hearing August 12, 2012 STANDARD Chartered hopes to move a step closer to resolving its dispute with US authorities at a hearing on Wednesday – where regulators want to hear why the bank should keep its licence to operate in New York state. The UK bank has been accused by the Department of Financial Services in New York of [...]
US regulators should treat British finance as innocent until proven guilty August 12, 2012 ANOTHER week and, seemingly, another scandal. This summer of discontent for the banking sector shows no sign of drawing to a close, as Standard Chartered is just the latest in a line of UK banks facing accusations of wrongdoing. In this case, the allegation is wire-stripping on U-turn transactions with Iranian entities. It is important [...]
China July commodities imports stay high; outlook weakens August 10, 2012 China’s imports of key commodities, such as iron ore and copper, defied expectations for a monthly fall to stay high in July, but weak trade figures and a nine-month low in crude oil imports painted a picture of a slowing economy. China is the world’s second-largest oil consumer and the top buyer of iron ore, [...]
Investors raise questions over Standard Chartered’s defence August 9, 2012 SHARES in Standard Chartered languished 13 per cent below their price on Monday, before the allegations it violated US sanctions against Iran. Despite a thee per cent rise in the share price yesterday, investors question Standard’s defence. The bank, which until recently enjoyed one of the cleanest reputations in British banking, lost more than a [...]
Standard Chartered lifts the FTSE in Olympic-thinned trading session August 9, 2012 Banking stocks lifted the benchmark FTSE- 00 to its best finish since early April yesterday, led by a resurgent Standard Chartered Bank. Investors were impressed with chief executive Peter Sands’ robust defense of allegations of malfeance lodged by US regulators, and pushed the shares 3.6 per cent higher. However RBS bucked the trend, sliding 1.3 per [...]
Regulatory rivalry is driving New York’s Standard Chartered attack August 9, 2012 THE interplay of US federal and state regulators is at the heart of the Standard Chartered scandal. Multinational banks desire a consistent approach from the regulators in the various countries in which they operate, and have come to expect a high degree of cooperation between those agencies. But Standard Chartered has been blindsided by the [...]
Mining gains prop up FTSE August 9, 2012 Gains in heavyweight miners kept Britain’s main share index flat this morning, as solid results from Randgold Resources and expectations of fresh stimulus measures from China propped up the equity markets. The FTSE 100 was down 0.08 per cent, as Randgold rose 3.1 per cent after reporting a 10 per cent rise in second-quarter profit. [...]
American regulator denies claim that it has an anti-British stance August 8, 2012 THE US regulatory body at the centre of allegations against Standard Chartered yesterday came out fighting against criticism that it had acted without consulting its fellow watchdogs, and denied that the case was proof of an anti-UK bias. One of the New York’s state financial services department’s senior officials told City A.M. yesterday that the [...]