News Archive - 1 July 2014

France’s largest bank BNP Paribas will pay a record $8.97 billion in penalties to settle the charges that it “knowingly and wilfully” processed transactions worth billions of dollars on behalf of Cuban, Sudanese and Iranian entities that had been blacklisted.

>* Almost 3 million bpd off the market due to outages* Most spare oil capacity in Saudi ArabiaBy Alex LawlerLONDON, July 1 (Reuters) - The world's unused spare oil production capacity would struggle to cover for another big outage, industry officials and analysts say, increasing the chance governments may tap...

>Berne-based regulator FINMA said the French lender used its Geneva arm to hide the fact it was transferring U.S. dollars and providing exchange transactions and letters of credit on behalf of clients in countries embargoed by the United States.FINMA said BNP's Geneva arm "seriously violated its duty to...

>* Parts of bank banned from dollar clearing in 2015* BNP says will keep 2014 dividend unchanged from last year* Shares up 3.8 pct (Adds analyst comments on mitigating effects of punishment, updates share price)By Joseph Ax, Aruna Viswanatha and Maya NikolaevaNEW YORK/WASHINGTON/PARIS, July 1 (Reuters) - French bank...

HONOLULU (AP) - A key role of the American troops in Iraq is assessing whether the country's security forces can hold together and whether its leaders are confident they can do their jobs, a top U.S. military official said Tuesday.

Taiwan's Ministry of Foreign Affairs (Mofa) yesterday expressed regret over a foreign media report that said Taiwan had been put on the "unwelcome" list or the list of countries not invited to Canada Day events organised by the Canadian government because the North American country does not recognise the Republic...

The American goalkeeper saved a record 16 shots in yesterday's 2-1 World Cup soccer defeat to Belgium, keeping the European team off the scoreboard until the 93rd minute. Belgium peppered his goal with 38 shots, some blocked by defenders. Of the rest, all but two were gathered by the 35-year-old...

To the sadly misinformed Bob Newlin of Tybee Island ("Veterans should stop whining over free care," Letters to the Editor, July 1) concerning veterans paying for health care costs associated with serving our country, maybe I can be of some help.

HONOLULU, Hawaii - A key role of the American troops in Iraq is assessing whether the country's security forces can hold together and whether its leaders are confident they can do their jobs, a top U.S. military official said Tuesday.

BEIJING (AP) — Asian stocks were mostly higher Wednesday on improved U.S. and Chinese economic activity.

Argentina's theme at this World Cup seems to be scrappy wins with Lionel Messi pulling through at the last minute to save the day. This time he didn't score on his own, but set the stage for Angel Di Maria to score an extra-time winner against Switzerland.

HONOLULU (AP) — A key role of the American troops in Iraq is assessing whether the country's security forces can hold together and whether its leaders are confident they can do their jobs, a top U.S. military official said Tuesday.

Washington, July 2 (IANS) The US and China should find common ground and develop cooperation even as the two countries disagree on certain issues, an aide to US President Barack Obama said Tuesday. The two countries can have differences and articulate them publicly, but still find areas to cooperate, Ben...

>INTERNATIONAL/REGIONAL* GLOBAL MARKETS-Asia shares score 3-year high as data cheers* Oil dips on easing supply concerns; China data supports* MIDEAST STOCKS-UAE, Qatar rebound as valuations become more attractive* Gold near 3-month high on fund flows; platinum holds gain* U.S. imposes record fine on BNP in sanctions warning to banks*...

Goldman Sachs Group Inc. (GS) was accused of widespread gender discrimination and a "boy's club" atmosphere that included bouts of binge drinking and trips to strip clubs, as two former female employees seek to expand their lawsuit against the firm with new evidence. The women asked a federal judge in...

Iraq's future is crucial to Iran: it is a natural Shia ally, a neighbour, and the site of many Shia landmarks.

BNP Paribas (BNP) SA has applied for a regulatory exemption it needs to be able to keep managing U.S. pension-plan assets following its guilty plea for violating U.S. sanctions.

Hong Kong's de facto central bank stepped in for the first time since December 2012 to prevent the city's currency from rising against the U.S. dollar, as demand rose on commercial activities. The Hong Kong Monetary Authority said it bought $2.099 billion within the past 24 hours at...

ALBANY – The State of New York in the next 30 days will be getting an unexpected $2.2 billion payment – at least – thanks to a penalty that a French bank has agreed to pay to resolve criminal investigations into currency deals it sought to hide in Sudan,...

World Cup top scorers after Tuesday's Round of 16 matches.

Argentina's theme at this World Cup seems to be scrappy wins with Lionel Messi pulling through at the last minute to save the day. This time he didn't score on his own, but set the stage for Angel Di Maria to score an extra-time winner against Switzerland. ''It doesn't matter...

Angel di Maria made up for a poor display by firing Argentina into the FIFA World Cup last eight with a 1-0 extra-time win over Switzerland.

US Secretary of State John Kerry on Tuesday pushed Russia to stop backing pro-Moscow insurgents in Ukraine, as the West mulled further sanctions against the government of Vladimir Putin. In a call to Russian Foreign Minister Sergei Lavrov, Kerry "expressed strong concern about the refusal of Russian-supported separatists to take...

Hundreds of police are still clearing protesters from Hong Kong's main business district this morning after the biggest march in a decade, held to demand full democracy and oppose Chinese control of elections. Several thousand mainly young people had vowed to remain on Chater Road in Central district -- near...

>July 1 (Reuters) - (The following statement was released by the rating agency)Fitch Ratings says BNP Paribas's settlement with US authorities has no immediate effect on the bank's ratings (A+/Stable/a+). The settlement includes the payment of a USD9bn fine and a guilty plea by the parent bank. Under the terms...

The Kurdish people have a lot to lose from the crisis in the Middle East. The emergence of the Islamic State of Iraq and Syria (Isis) is a direct threat to the Kurds, against which all Kurdish forces have mobilised.

From Sudan to Iran to American courtrooms, a fight over religious liberties continues to play out, Missouri Sen. Roy Blunt believes.

BAGHDAD — The leader of the extremist group that seized much of northern Iraq and Syria called on Muslims worldwide on Tuesday to join the battle and help build an Islamic state in the newly conquered territory. The 19-minute audiotape from Abu Bakr al-Baghdadi came two days after his organization,...

While the world's attention is focussed on the ethno-sectarian divide in Iraq, another ethnic divide is simmering nearer home in Afghanistan, which if not resolved, has the potential to develop into another Iraq like situation.

President Vladimir Putin accused the United States on Tuesday of using fines against French banks to "blackmail" Paris into calling off its sale of Mistral warships to Russia as punishment for Moscow's role in the conflict in Ukraine. U.S. authorities imposed a record fine of almost $9 billion against...

WASHINGTON (AP) — Iraq is increasingly turning to other governments like Iran, Russia and Syria to help beat back a rampant insurgency because it cannot wait for additional American military aid, Baghdad's top envoy to the U.S. said Tuesday.

ROANOKE, Va. (AP) - Exelis plans to cut about 60 salaried jobs at its night vision plant in Roanoke County. Exelis spokesman Tim White tells media outlets that the job cuts will be effective at the end of the month. The cuts will leave the plant with about 425 salaried...

>LONDON (Reuters) - BNP Paribas (BNPP.PA) said a record $9 billion fine slapped on it for avoiding U.S. sanctions would not force it to rush out and raise cash or sell assets, even though it will wipe out the French bank's capital advantage over weaker rivals. The fine...

>BAGHDAD (Reuters) - Sunnis and Kurds walked out of the first session of Iraq's new parliament on Tuesday after Shi'ites failed to name a prime minister to replace Nuri al-Maliki, dimming any prospect of an early national unity government to save Iraq from collapse. The United States, United Nations, Iran...

>* July 20 deadline looming for agreement between Iran and powersBy Jonathan Saul and Alex LawlerLONDON, July 1 (Reuters) - Iran's crude oil exports dropped in June after a spike in May, yet sales were still above the level allowed by an interim deal aimed at curbing Tehran's nuclear programme,...

The last quarter-final spots will be filled on Day 20 of the World Cup in Brazil as Argentina take on Switzerland, and Belgium face the USA in the last 16. Already the first knockout round has provided quality and tension with the hosts Brazil being pushed all the way by...

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Commonwealth Games 2014: Jitu Rai is optimistic of a medal

Lionel Messi insists Argentina don't rely on him to carry them to World Cup glory this year.

Vienna, July 1 (IANS/WAM): The basket of 12 crude oils of the Organisation of Petroleum Exporting Countries (OPEC) stood at $108.59 a barrel Monday, compared to $109.17 last Friday, according to OPEC Secretariat calculations.

Doha is to become Emirates’ best served destination as part of a boost to frequencies throughout the Middle East from 1 December.

TOKYO - European shares rose Wednesday, led by BNP Paribas after the bank said it had enough funds to pay a nearly $9 billion settlement of charges it violated U.S. trade sanctions. Asian stock markets ...

A U.S. crackdown on financial institutions for alleged sanctions-busting threatens to penalize more European banks after France’s BNP Paribas SA (BNP) was fined a record $8.97 billion for dealing with blacklisted countries.

>Global Picture Desk: + 65 6870 3775Global Graphics Desk: + 65 6870 3595(All times GMT / ET)Receive this schedule by email:mediaexpress.reuters.comTOP STORIESFrance's BNP to pay $9 bln in U.S. sanctions caseNEW YORK/WASHINGTON/PARIS - French bank BNP Paribas has pleaded guilty to two criminal charges and agreed to...

>* General Motors on Monday announced the recall of 8.4 million more vehicles worldwide - most of them for an ignition defect similar to the flaw that the company failed to disclose in other models for more than a decade. The announcement came hours after Kenneth Feinberg, a compensation...

>WASHINGTON (Reuters) - BNP Paribas’ guilty plea and agreement to pay nearly $9 billion for violating U.S. sanctions is part of a larger U.S. Justice Department shift in strategy that is expected to snare more major banks and other firms across the financial food chain. Two other major...

>Hossein Amir-Abdollahian, a deputy foreign minister, said during a visit to Moscow that Tehran had no plans to send troops to Iraq to back government forces fighting Sunni Islamists."We have no troops or armed forces on Iraqi soil now," he told a news conference through a translator. "We have...