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Chase Bank Limits Cash Withdrawals, Bans International... Before you read this report, remember to sign up to for 100% free stock alerts Chase Bank has moved to limit cash withdrawals while banning business customers from sending...

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Richemont chairman Johann Rupert to take 'grey gap... Billionaire 62-year-old to take 12 months off from Cartier and Montblanc luxury goods groupRichemont's chairman and founder Johann Rupert is to take a year off from September, leaving management of the...

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Cambodia: aftermath of fatal shoe factory collapse... Workers clear rubble following the collapse of a shoe factory in Kampong Speu, Cambodia, on Thursday

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Spate of recent shock departures by 50-something CEOs While the rising financial rewards of running a modern multinational have been well publicised, executive recruiters say the pressures of the job have also been ratcheted upOn approaching his 60th birthday...

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UK Uncut loses legal challenge over Goldman Sachs tax... While judge agreed the deal was 'not a glorious episode in the history of the Revenue', he ruled it was not unlawfulCampaign group UK Uncut Legal Action has lost its high court challenge over the legality...

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Standard Chartered faces downgrading of credit rating

Category : Business

Claims that Standard Chartered broke US sanctions against Iran could lead to credit rating being downgrading, the agency Fitch warned

Claims that Standard Chartered broke US sanctions against Iran could result in its credit rating being downgraded, the agency Fitch warned on Thursday. The agency said it was still “too early” to judge the outcome and that there needed to be “more clarity”. The bank is due to appear before the New York state department of finance services next week and it has been suggested that George Osborne has asked his US counterpart Tim Geithner to ensure it is treated fairly. The chancellor is said to have been reassured that there would be a coordinated approach between all the regulators involved – something which Sir Mervyn King of the Bank of England has also called for.

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