Standard Chartered shares tumble on Iranian dealings
Standard Chartered's shares slump after New York's top bank regulator threatens to remove its state banking licence, saying the British lender hid $250 billion in transactions tied to Iran. Full Article
Syrian prime minister defects, fighting goes on
AMMAN - Syrian forces pressed on with their offensive against rebels in the largest city Aleppo after the prime minister fled the country, denouncing the "terrorist regime" of Bashar al-Assad. | Video
Defection of stalwart PM deals blow to Assad
AMMAN - As a pillar of Syria's repressive system, Prime Minister Riyad Hijab was well placed to understand that the ruling elite he represented for the last quarter of a century may not survive the popular uprising against the Assad family rule. Full Article
Signs mount of North Sea oil supply drop
Output from the North Sea's second-largest crude oil stream is set to fall sharply in September, adding to signs of reduced supply from the home of the Brent benchmark used to price sround two-thirds of the world's oil. Full Article
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Nissan joins London's black cab race
Japanese carmaker Nissan has launched a new taxi that promises to be competitive in price and more environmentally friendly than other cabs in London. Video | Full Article
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Spain has time to wait on EU aid
Spain's Economy minister Luis de Guindos says Madrid has time to wait for claritication on what a full bailout would require. Laurence Mutkin of Morgan Stanley joins Reuters to discuss the latest on the debt crisis. Video | Related article
India's displaced face disease and death
GUWAHATI, India - Hundreds of thousands of people sheltering in squalid, overcrowded camps in India's northeast desperately need food, water and medicines after fleeing some of the worst communal violence in a decade. Full Article
Tesco launches virtual store at Gatwick Airport
Supermarket group Tesco is launching an interactive virtual grocery store at London's Gatwick Airport to help holidaymakers shop for their return using their smartphones. Full Article
Reuters Today: StanChart rebuts "rogue institution" tag
Aug. 7 - Standard Chartered faces a battle to save its New York banking license after U.S. regulators branded it a "rogue institution" for allegedly hiding transactions with Iran.
Latest Headlines
Bolt returns, Pearson eyes hurdles gold
Jamaica's Usain Bolt begins a highly anticipated 200m title defence, while women's 100m hurdles champion Sally Pearson is favourite to go one better than her silver in Beijing.
How to clean the banking cesspit
Faced with a stream of financial scandals, the public is growing impatient with the slow pace of change. Some pundits want to clear out the entire old guard and break up the banks. While something must be done, these knee-jerk approaches are not the best way forward. Commentary
How about quantitative easing for the people?
Giving away free money may sound too good to be true or wildly irresponsible, but it is exactly what the Fed and Bank of England have been doing for bond traders and bankers since 2009. Directing QE to the general public would not only be much fairer but also more effective. Commentary
Olympics a bad metaphor for economic rivalry
China breaks the rules, the U.S. loses its edge, Britain barely registers at all. It’s easy to see the Games as a mirror for reality. But economics is different. Co-operation is rewarded, the prizes keep growing, and there are many ways to win, provided the competitors play fair. Full Article
An African kleptocracy's U.S. helpers
As bizarre events go, pride of place must go to an African summit scheduled for later this month in Equatorial Guinea. The meeting’s agenda includes human rights and good governance and it will be hosted by a government with a reputation for corruption and repression. Commentary
Changing the Moscow rules
Putin's former spin doctor says the Russian president is altering his narrative, now opting for the harshest choices in dealing with dissent. If that's so, Putin could lose the grip he still has on the country. Commentary
StanChart joins banking march into mire
New York regulators accuse the UK-based lender of covering up $250 billion of sanctions-busting transactions with Iran. It’s a big setback for one of the last global banks to have dodged financial and legal woes. Even just a fine for StanChart will leave the industry lacking halos. Commentary
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Capitalism without fixes is just a garden full of weeds
Capitalism is great, but without some adjustments it’ll resemble a garden no one tends, which benefits only the weeds, says Nick Hanauer, partner at Second Avenue Partners. Video
Brazil backslides on protecting the Amazon rainforest
ITAITUBA, Brazil - Brazil’s government has led an all-out retreat from two decades of progressive environmental policy, turning the world’s largest rainforest into a free-for-all frontier of lax law enforcement and violent competition for land and resources. Full Article
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