BNP Paribas announcement expected today

The long awaited announcement on penalties for BNP Paribas is expected later today. The fine is almost certainly to be around $9 billion and the Bank is also expected to be banned from clearing dollar trades for as long as a year, a damaging blow to its operations. Read the full story.

More market talk:

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• Don’t ignore the ‘worrying’ signs says BIS
• Better news for Eurozone inflation