Search Results for: Iran
U.S. Hits German Bank with $1.45 Billion in Penalties
March 13th, 2015
The U.S. Department of Justice on Thursday ordered Germany’s Commerzbank bank and its U.S. affiliates to pay $1.45 billion in penalties for violations of U.S. sanctions law and for a multibillion-dollar securities fraud. A department statement said Commerzbank, Germany’s ...
Commerzbank nears $1.4 billion-plus settlement with U.S. – sources
March 6th, 2015
Commerzbank AG (CBKG.DE) is nearing an agreement to pay U.S. authorities more than $1.4 billion to settle allegations it violated U.S. sanctions and a separate investigation that stemmed from the Olympus Corp (7733.T) accounting scandal, according to two people ...
Companies Dropping the Ball on Risk, Compliance
March 5th, 2015
Companies are woefully unprepared to deal with the increasingly challenging risk and compliance environment, and the blitz of devastating corporate blunders witnessed in 2014 will recur, and then some, this year, says Forrester Research in a scathing new report. ...
Asia stocks slip, euro hits 11-year low before ECB
March 5th, 2015
Asian stocks slipped on Thursday after Wall Street continued to pull back from record highs ahead of Friday’s closely-watched U.S. jobs data, while the nervous euro languished at an 11-year low prior to the European Central Bank‘s policy meeting. ...
Saudis’ Oil Price War Is Paying Off
February 27th, 2015
Three months after Saudi Arabia made clear it was going to let oil prices keep tumbling, the strategy is showing signs of working. U.S. drillers are idling rigs at a record pace, gutting investment plans and laying off thousands ...
Russian Asset Sales Muddy Sanction Compliance
February 13th, 2015
U.S. Companies Already Have to Contend With Complex Rules In recent months, Boris and Arkady Rotenberg—Russian businessmen and friends of Vladimir Putin —have sold off assets to their sons that include holdings in a Gazprom drilling contractor and the sleek Finnish Langvik Congress ...
OPEC Producers Cut Oil Prices to Asia in Battle for Market Share
February 11th, 2015
Iraq and Iran joined Saudi Arabia in cutting their March crude prices for Asia to the lowest level in more than a decade, signaling the battle for a share of OPEC’s largest market is intensifying. Iraq’s Basrah Light crude ...
Oil Companies Draw on Creative Financing to Stay Afloat After Prices Tumble
February 2nd, 2015
North America’s small and mid-sized energy companies are searching for creative ways to stay afloat as investors smell blood in the water from the almost 60 percent fall in the price of oil since June. Oil and natural gas ...
What Would Exclusion From Payment System SWIFT Mean For Russia?
January 29th, 2015
Discussions among European leaders about new sanctions on Moscow have again raised fears that the SWIFT international payments system might be cut off, a move that experts warn would wreak financial havoc on Russia. The Society for Worldwide Interbank ...
Standard Chartered CEO Is Under Pressure From Shareholders, Regulators, Staff
January 29th, 2015
Bank’s Top Shareholders Privately Push for New Leadership Amid Investor, Regulatory Anxiety Hundreds of Standard Chartered PLC’s most senior executives gathered earlier this month on Singapore’s Sentosa island to address the global bank’s dimming fortunes. From a lectern at ...
