By Washington correspondent Kim Landers and wires British bank Standard Chartered has been ordered to pay the United States almost $US330 million to settle charges it violated US sanctions against Iran, Burma, Libya and Sudan. Standard Chartered has been fined $US100 million by the US federal reserve and the department of justice has seized assets worth more than $US220 million. US authorities say the bank stripped messages on financial transfers that would have shown the beneficiaries were Read more [...]

London - (AP) British bank Standard Chartered said on Thursday it expects to pay around $330 million to settle with US authorities "very shortly" over allegations it violated sanctions on Iran. The sum comes on top of a $340 million fine it paid in August to settle a case in New York state, where regulators had accused it of hiding some $250 billion in transactions with Iranian banks, charges denied by the lender. "The group remains in active and constructive discussions with the other US Read more [...]

LONDON - Market Watch The chief financial officer of the Anglo-Swiss miner Xstrata PLC Trevor Reid said Tuesday he won't be taking up his position as CFO of the combined Glencore-Xstrata PLC commodities group once the multi-billion dollar merger has been completed. Mr. Reid, who has served as CFO of Xstrata since late 2001, didn't provide a reason for his decision to step down but Xstrata said he will stay on board as a consultant to the combined company for up to six months in order to ensure Read more [...]