Europe
Standard Chartered shares crash after allegations of laundering with Iran
Shares in Standard Chartered have fallen 15% in early London trade this morning despite the bank’s denial that it illegally “schemed” with Iran to launder money. The allegations were made by the New York State Department of Financial Services, which said the UK-based bank laundered as much as $250bn (£161bn) over nearly a decade, hiding transactions for “Iranian financial institutions” that should have been subject to US economic sanctions. Standard Bank said it “strongly rejects the position or portrayal of facts as set out in the order” issued by the regulator.
North America
Alzheimer’s drug shelved after failed trials
Two American drug firms are to stop development of an Alzheimer’s drug because it failed two late-stage clinical trials. Bapineuzumab, made by Pfizer and Johnson & Johnson, was designed to stop plaque build-up in the brain. However it failed to improve cognitive or functional performance compared with a placebo in certain patients.
Latin America
UAV to map Peruvian ruins
Archaeologists in Peru are preparing an unmanned aerial vehicle (UAV) that could greatly speed up the process of data gathering at historical sites. “Mapping” usually takes several years to complete, but by including cameras, Geographic Information System (GIS) technologies and programming specific flight algorithms into the UAV, Professors Julie Adams and Steve Wernke hope to produce a 3D map of the Mawchu Llacta site in Peru in mere minutes, once the system is perfected. The UAV is built be Aurora Flight Sciences, while the technology was developed by a team at Vanderbilt University in Nashville, Tennessee.
Middle East and Africa
Syrian regime defiant after Prime Minister defects
Syria’s new cabinet has set to work following the defection yesterday of Prime Minister Riad Hijab, the most significant yet from the regime he denounced as “terrorist”. Caretaker Prime Minister Omar Ghalawanji chaired an emergency cabinet meeting today, stressing that all ministers were present. Information Minister Omran al-Zoubi rejected reports of other ministerial defections, and Iran’s security chief made an unexpected visit to Damascus as part of an apparent change in diplomatic approach – Tehran says it is planning a conference aimed at solving the crisis.
Ivory Coast: seven dead in attack on Abidjan military base
At least six soldiers have been killed in Sunday’s attack on a military base in Ivory Coast’s main city, Abidjan, with one of the attackers also confirmed dead in a firefight that lasted several hours. Corp Ousmane Kone, who took part in the fighting, told Reuters news agency that the attackers had stolen weapons from the base, including AK-47s, machine guns and rocket-propelled grenades. It is still unclear who was behind the attack.
Asia and Russia
Eight dead as floods cripple Manila
At least eight people are reported dead as torrential rain pummelled the Philippine capital, Manila, causing floods that have paralysed the city. The deaths came as landslides hit Quezon City, a shanty town. Tens of thousands of people have been forced to abandon their homes, closing schools, offices and the stock exchange. The flooding is neck-deep in some areas, with roads turned to rivers, and comes just over a week after more than 50 people when Typhoon Saola struck the city.
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