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 [...]
EU bans Iran oil imports as nuclear row escalates January 23, 2012 EUROPEAN Union governments yesterday agreed to an immediate ban on all new contracts to import, buy or transport Iranian crude oil, a move to put pressure on Tehran’s disputed nuclear programme by shutting off its main source of foreign income. But the governments agreed to phase in the embargo, giving countries with existing contracts with [...]
GEITHNER WANTS CHINA’S HELP ON IRAN January 10, 2012 US Treasury secretary Tim Geithner was in China yesterday to meet Vice-Premier Wang Qishan and senior party members Xi Jinping and Li Keqiang. Geithner is there to push China to join the international sanctions imposed on Iran, in an effort to make the theocratic state drop its nuclear plans, and to discuss the strength of [...]
Is the Office of Fair Trading’s investigation into fuel prices a positive move for drivers? September 6, 2012 YES David Bizley Anything that brings transparency to fuel pricing is very welcome. Most motorists are very aware that fuel prices go up far faster than they ever come down, so it is a very positive move that the Office for Fair Trading (OFT) is seeking to clarify the situation once and for all. Fuel [...]
Iran close to enriching uranium, says official January 8, 2012 IRAN will in the “near future” start enriching uranium deep inside a mountain, a senior official said, a move likely to further antagonise Western powers which suspect Tehran is seeking nuclear weapons capability. A decision by the Islamic Republic to conduct sensitive atomic activities at an underground site – offering better protection against any enemy [...]
EU set to phase ban on Iran’s oil January 12, 2012 COMMODITIES fell broadly yesterday, with oil tumbling in a late sell-off on the news that Europe would phase a ban on imports of Iranian oil, part of the latest Western efforts to increase pressure on Tehran over its nuclear programme. EU diplomats had said a consensus was emerging to grant a grace period before banning [...]
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 [...]
EU sanctions on Iran prompt oil price spike January 4, 2012 EUROPEAN diplomats unveiled an agreement to block imports of Iranian crude yesterday, sending oil prices soaring to a seven week high. Brent crude futures touched $113.97 per barrel, up 2.4 per cent on the day, before settling at around $113. Benchmark US crude edged over $103 after climbing more than $4 in the previous session. [...]
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 [...]
Middle Eastern embassy attacks threaten Obama’s foreign policy credibility September 13, 2012 HAVING supported the overthrow of totalitarian regimes in the Middle East, Barack Obama is now experiencing the backdraft. November’s presidential election was meant to be a predictable duel on domestic issues. But, with the ransacking of the US embassy in Cairo and the murder of the American ambassador and three others in Benghazi, it has [...]