StanChart eyes joint deal after backing down in U. S.
LONDON/NEW YORK (Reuters) – Standard Chartered is pursuing a collective settlement with other U. S. authorities after agreeing to pay $340 million to New York’s financial regulator under mounting pressure from shareholders. The bank said it made a "pragmatic decision" to settle after having seen its share price slump by more than 30 percent at one stage last week, following accusations that it concealed Iran-linked transactions worth a total of $250 billion. The transactions were at the centre of a fresh legal challenge on Wednesday when the estates of victims of the 1983 bombing of U. S. . . .
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