FTSE maintains its four-month high despite hit from ex-dividend stocks August 8, 2012 BRITAIN’S blue chip share index rose by just a few points yesterday, consolidating around a four-month peak as a slide in a batch of stocks trading without their dividend entitlements offset gains in banking and mining stocks. Fifteen blue chip stocks traded ex-dividend yesterday including heavyweights Royal Dutch Shell, BP, AstraZeneca, GlaxoSmithKline, and Barclays knocking [...]
RAPID RESPONSES August 8, 2012 Anti-British bias [Re: Standard Chartered is the victim of US warfare against British banking, yesterday] John Mann is correct. US regulatory pressure is unfair, excessive, and unbalanced, and solely seeks to protect US self-interests. The UK government should protect British interests unequivocably. We shouldn’t fear the loss of the strategic partnership, especially if it is [...]
INVESTORS DESERT STAN CHART STOCK August 7, 2012 ALMOST a quarter was wiped from Standard Chartered’s market value yesterday as the global banking giant hit back at US allegations it had schemed with Iran to hide $250bn (£160bn) worth of transactions. Shares in London dived 16.7 per cent after closing down almost 15 per cent in Hong Kong, as investors reacted to claims [...]
Deloitte’s US arm dragged into scandal August 7, 2012 THE US arm of Deloitte yesterday denied any wrongdoing in its dealings with Standard Chartered, after the advisory firm was accused of colluding with its client to conceal billions of dollars in transactions through Iran. “Deloitte Financial Advisory Services performed its role as independent consultant properly and had no knowledge of any alleged misconduct by [...]
Most countries are responsible for the crisis – not just the UK August 7, 2012 REMEMBER sub-prime lending? Fannie Mae and Freddie Mac’s absurd backing of mortgages for those who couldn’t afford to pay the money back? The US government’s decision to promote sub-prime lending? The Federal Reserve’s crazy decision to inflate endless bubbles via excessively loose monetary policy during the good times, and its destructive commitment to step in [...]
City fears over US pressure on British banks August 7, 2012 PROMINENT City figures raised concerns yesterday that US authorities are increasingly targeting the British banking sector following damning allegations that Standard Chartered laundered billions of dollars. The UK-listed firm is the second bank in two months to face US criticism for lax money laundering controls, after HSBC was accused of failing to scrutinise money being [...]
PROFILE: THE MAN THEY’RE CALLING THE NEW ELIOT SPITZER August 7, 2012 BENJAMIN Lawsky is no stranger to politics, serving as chief of staff to New York’s governor Andrew Cuomo before taking the top job at the state’s newly formed Department of Financial Services last October. His activity since has led to whispers that he may have an eye on higher office. The 42-year-old took has gone [...]
ANALYST VIEWS | WHAT WAS YOUR REACTION TO THE ALLEGATIONS? August 7, 2012 GARETH GREENWOOD SHORE CAPITAL The revelation…comes as something of a shock to us, not least because at the company’s results presentation last week, management stood up and proudly highlighted how the group had avoided such scandals. Surely this investigation… ought to have been considered when making these comments? RICHARD HUNTER HARGREAVES LANSDOWN There is some [...]
FTSE shrugs off Standard Chartered slump to reach a four-month high August 7, 2012 BRITAIN’S FTSE 100 climbed to its highest close in four months yesterday, with heavyweight miners and energy stocks rallying on expectations of global economic stimulus and outweighing a steep sell off in Standard Chartered. The bank’s shares plunged 16.4 per cent in their biggest one-day sell off in four years after New York’s top bank [...]
Standard Chartered is the victim of US warfare against British banking August 7, 2012 STANDARD Chartered, one of the few British banks hitherto left untainted by allegations of misconduct, saw its share price nosedive yesterday, after accusations by a New York regulator that it had violated sanctions against Iran. I’m now left more convinced than ever that US politicians and regulators have a hidden objective in exposing the wrong-doings [...]