- Tools for Investors
- Stock News
- Investing Ideas
- Econ & Policy
- Personal Finance
Standard Charterd.5 (SCBFF.PK), which is the United Kingdom’s number-two bank by market value, anticipates paying around $330 million to resolve regulators’ claims that transactions with Iranian clients violated United States sanctions. Finance Director Richard Meddings told journalists on Thursday that discussion with American authorities could be finished by the end of December, although the company is still negotiating with the Treasury Department, the Justice Department, the Federal Reserve and the Manhattan District Attorney’s office.
Are these stocks a buy or sell? Let us help you decide. Check out our Wall St. Cheat Sheet Stock Picker Newsletter now >>
Europe’s largest bank, HSBC Holdings (NYSE:HBC), could be liable for a fine of $1.8 billion as part of its resolution with United States law-enforcement agencies in regards to money-laundering matters, say knowledgeable sources, which added that settlement will probably entail the firm entering into a deferred prosecution arrangement with federal prosecutors. The case is becoming a bellwether for just how far prosecutors want to go to attempt a curb on illicit flows of money moving through U.S. banks.
Toronto-Dominion Bank (NYSE:TD) is acquiring Epoch Holding Corporation (NASDAQ:EPHC) and its subsidiary Epoch Investment Partners for around $668 million in an all-cash purchase. Epoch Holding Corporation shareholders will receive $28 in cash per share, marking a bonus of about 28 per cent to Epoch’s close on December 5th. Mike Pedersen, Group Head of Wealth Management, Insurance and Corporate Shared Services for the buyer, said that, “We’ve been looking for an opportunity to acquire a U.S. asset manager to build our North American Wealth business, which is a key growth area for TD. It will broaden our offer for institutional and retail clients in Canada and will immediately and significantly strengthen our U.S. Wealth business.”
Don’t Miss: Why Is HSBC In Trouble Again?
Don't miss one of the biggest bull markets in history! Covers Gold, Silver, Gold & Silver stocks, and miners.
There's always a bull market in some sector! Find the best opportunities in commodities.