China’s Qingdao Port is counting industrial metals held in some of its bonded warehouses to determine if they match the amount in documents pledged to banks as collateral for loans, said three people with direct knowledge of the probe.
Standard Bank Group Ltd. and MTN Group Ltd. are scheduled to go to South Africa’s second-highest court on Aug. 1 to defend themselves in a technology supplier’s lawsuit over a credit-card security feature.
Standard Bank Group Ltd., Africa’s largest bank, is falling behind the smallest of South Africa’s so-called big four, Nedbank Group Ltd., after its failed attempt to expand in emerging markets eroded profit margins.
Standard Bank Group Ltd. is negotiating with the Zimbabwean government to bring in a black partner for its unit in the country, Erik Larsen, the lender’s spokesman, said by phone from Johannesburg today.
Royal Bank of Scotland Group Plc, Commerzbank AG and Standard Bank Group Ltd may be betting Dubai will improve terms on a $10 billion debt restructuring to protect its reputation after a near default in 2009.