Fortum Corporation (OTC:FOJCF) Q2 2014 Earnings Conference Call July 18, 2014 10:00 AM ET Executives Tapio Kuula – President and CEO Timo Karttinen – CFO Analysts Zoltan Fekete – Credit Suisse Benjamin Leyre – Exane BNP Paribas AnneShow More Summary
CNN approached us about writing an op-ed on the $8.9 billion BNP Paribas settlement and you can see the article here. This is the first time we've written for them and they seemed happy with the outcome. I've been remiss in not making an observation about the settlement.
Last week U.S. regulators imposed a large fine on BNP Paribas, France’s largest bank. The nearly $9 billion settlement, in which the bank admitted its guilt, was not the largest in U.S. regulatory history; that title still goes to JPMorgan Chase.
Bloomberg News BNP Paribas SA pleaded guilty to a criminal charge over its dealings with sanctioned countries in federal court on Wednesday, putting the finishing touches on the French bank's record $8.97 billion settlement reached last week with U.S. authorities.
In stark contrast to France’s overprotective how-dare-you-accuse-my-child-of-that attitude towards BNP Paribas, Belgium at least entertains the notion that it might have done something wrong and plans to subject their shared progeny to a stern talking-to. Show More Summary
Is it true that no one actually 'pays' for contraceptive services when they buy insurance -- because the insurers would be glad to provide it for free?
German Banks Are Next. After BNP Paribas, federal authorities are now targeting Commerzbank for violating U.S. sanctions, the New York Times reports. " The bank, which is suspected of transferring money through its American operations...Show More Summary
This post first appeared on Opera Mundi The United States has imposed a record fine on the largest French bank because of its trade relations with Cuba and other countries under U.S. embargo. This is a flagrant violation of international...Show More Summary
Wolf Richter www.wolfstreet.com www.amazon.com/author/wolfrichter French President François Hollande should have been ecstatic when US Federal and New York State authorities slammed French megabank BNP Paribas with a slew of charges related to the bank’s dealings with Iran in violation of US sanctions. Show More Summary
France appears to have taken its public relations strategy for dealing with $8.9 billion fine against BNP Paribas from an old saying among lawyers: "If you have the facts on your side, pound the facts. If you have the law on your side, pound the law. Show More Summary
This Real News Network interview with Bill Black provides a good high-level overview of what is right and (mainly) wrong with the $8.9 billion settlement with BNP Paribas over money-laundering charges. Black stresses that financial crime remains a very attractive activity for both the enterprise and its employees. Show More Summary
THE French bank BNP Paribas was smacked with a record fine of almost $9 billion for violating American sanctions this week, for processing transactions with clients in Cuba, Iran and Sudan. The amount is almost $2 billion more than its...Show More Summary
BNP Paribas said its $8.97 billion (R95.5bn) fine for violations of US sanctions would not disrupt its dividend or growth plans, but some investors are not so sure. ||| Fabio Benedetti-Valentini and Elisa Martinuzzi Paris and Milan BNP...Show More Summary
Was BNP Paribas's $8.9 billion settlement with the Justice Department caused by a long-running criminal conspiracy or was it just a boo-boo? The Wall Street Journal implies it was the latter in a confusing page-one story headlined "Big Bank's $9 Billion Blunder." From 2002 to 2012, the French banking giant laundered hundreds of billions of dollars for Iran, Sudan, and...
The French government may have been onto something when whining that the U.S. was being très unfair to BNP Paribas. New research suggests that overseas firms like BNP Paribas do in fact pay bigger fines and plead guilty more often than United States companies. Show More Summary
BNP Paribas Pays $9 Billion, But Isn't That $6 Billion after Taxes?
Holding firm against intense pressure by the French government, the U.S. and New York exacted a record $8.9 billion from banking giant BNP Paribas for incorrigibly helping the outlaw regimes of Iran and Sudan evade economic sanction...
The guilty plea by BNP Paribas for violating US sanctions is part of a larger Justice Department shift in strategy that is expected to snare more major banks. ||| The guilty plea by BNP Paribas for violating US sanctions is part of a larger Justice Department shift in strategy that is expected to snare more major banks. Show More Summary
Shares in BNP Paribas posted the biggest advance in a year in Paris yesterday after the French bank said a record $8.97 billion (R95bn) fine for breaking US sanctions would not force it to reduce its dividend or derail growth plans.Show More Summary
Following a record $9 Billion Fine yesterday (See French Bank BNP Paribas Pleads Guilty Criminal Conspiracy Charges; Anyone Headed to Prison?), BNP came out swinging today saying no problem.Dividends, No ProblemDealBook reports "BNPShow More Summary