The Presidential Daily Brief


  1. French Seek European Support for BNP

    France is turning to Germany and the UK for help as it seeks leniency from the U.S. for BNP Paribas, a Paris-based financial giant accused of breaking American sanctions against countries like Iran and Sudan. The French fear a tough hit against BNP, which netted $6.5 billion in profits last year and is expected to pay some $9 billion in U.S. penalties, could harm the industry. If diplomacy fails to lessen BNP’s punishment, the French may take the matter up with international financial authorities.

    BloombergFT (sub)

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