Categories:Investments,US

Morning in brief: Brent crude falls below $122 a barrel, Romney wins Ohio, Stanford guilty

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Several of Europe’s largest banks accept the terms of Greece’s debt swap, while Romney edges forward in the GOP race and six Olympus executives are charged over the accounting scandal.

International

An increasing number of banks are signalling their consent to participate in Greece’s debt swap, ahead of the Thursday deadline. Societe Generale, Assicurazioni Generali and UniCredit have all agreed and Greece’s six largest banks also plan to accept the offer, reports Bloomberg.

Mitt Romney has taken a step closer to securing the Republican presidential nomination but his victory in Ohio yesterday was by too small a margin to declare a decisive end to the contest. Romney came out ahead in Massachusetts, Idaho, Virginia, Vermont and Alaska, while Newt Gingrich took Georgia and Rick Santorum won Tennessee, Oklahoma and North Dakota, says the Wall Street Journal.

Texan financier Allen Stanford has been found guilty of running a ponzi scheme which took an estimated $7 billion (£4.4 billion) from investors. Stanford was at one time among Forbes’ list of wealthiest Americans and now faces a potential sentence of more than 200 years, writes Reuters.

 

Markets

Brent crude has slipped below $122 a barrel for the first time in a week after the US, Russia, China, the UK, France and Germany all agreed to reopen talks with Iran over its nuclear programme, according to the FT.

Companies

Japanese camera company Olympus and six executives have been charged with falsifying securities reports in order to cover up a £1 billion discrepancy, reports the BBC. Tsuyoshi Kikukawa, the firm’s ex-chairman, Hisashi Mori, executive vice-president, and Hideo Yamada, former auditor, are among those charged.

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