Morning Scan: BNP May Fork Over $10B in Settlement; Piketty Defends ...

Receiving Wide Coverage ...

BNP Could Face $10B Fine: U.S. authorities want BNP Paribas to pay more than $10 billion to settle allegations the French lender violated U.S. sanctions against countries including Iran and Sudan, according to the Wall Street Journal. "We are used to seeing penalties wipe out a quarter's profits, but $10 billion will wipe out a full year for BNP so market reaction will probably be somewhat greater," Mizuho credit strategist Roger Francis...