Iran protests sanctions by halting oil sales to Britain February 20, 2012 IRAN yesterday ordered a halt to its oil sales to Britain and France in what appeared to be a tit for tat move against tightening EU sanctions. The trade block was announced as a team of UN inspectors flew to Tehran to press the Islamic Republic over its disputed nuclear programme. The European Union enraged [...]
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 [...]
Iran halts oil exports to six European states February 15, 2012 Iran has stopped oil exports to six European states in retaliation for European Union sanctions imposed on the Islamic state’s key export, its English-language Press TV has reported “Iran cuts its oil exports to six European countries,” Press TV reported. Brent crude oil prices were up $1 a barrel to $118.35 shortly after the announcement. [...]
Iran halts oil exports to six European states February 15, 2012 Iran has stopped oil exports to six European states in retaliation for European Union sanctions imposed on the Islamic state’s key export, its English-language Press TV has reported “Iran cuts its oil exports to six European countries,” Press TV reported. Brent crude oil prices were up $1 a barrel to $118.35 shortly after the announcement. [...]
UK bankers could face US prison for sanctions busting August 7, 2012 IT IS American regulators that British multinationals must really fear. By alleging that Standard Chartered Bank is a “rogue institution”, the New York State Department of Financial Services has dunked the bank’s share price and caused it untold reputational damage. The investigation into breaches of the Iranian sanctions regime may be almost complete. But Standard [...]
Oil surges on Iranian worries August 13, 2012 The price of oil hit a three-month high yesterday on supply worries in the Middle East. Brent crude jumped $2 to settle at $114 a barrel, on support from tightening North Sea supplies and Middle East tensions, including an intensifying debate in Israel on whether to strike the disputed nuclear programme in Iran, led by [...]
Iran in threat over oil supply January 29, 2012 IRAN vowed to stop oil exports to EU countries yesterday, stepping up its row with the west over its nuclear energy policies. However, it called off a parliamentary debate on oil sales to the EU, which Brussels is already in the process of banning itself. Lawmaker Mohammed Karim Abedi said a bill to cut supplies [...]
Oil hits three-month high above $114 August 13, 2012 Oil rose above $114 (£73) per barrel today to the highest in more than three months as concern about supplies and hopes that governments will roll out more stimulus measures trumped signs of weakening fuel demand. Supply of the North Sea crudes underpinning the Brent crude contract is set to hit a record low. Iranian [...]
StanChart has a silver lining says Investec September 10, 2012 MARKETS have yet to recover from Standard Chartered’s Iranian sanction-breaking scandal, and so are failing to recognise the bank’s underlying strengths, analysts from Investec said yesterday. Although the bank’s share price has recovered roughly 30 per cent in the last month, it is still feeling the effects of US regulatory action – even though the [...]
Another banking scandal was the last thing the City needed August 6, 2012 JUST when it felt as if it couldn’t get any worse for the City, it is now Standard Chartered’s turn to be engulfed in a major scandal. The bank – which didn’t need a bailout and is hugely successful thanks to its emerging market focus – stands accused by US regulators of having deliberately ignored [...]