Deals
StanChart Plunges as Troubled Outlook Overshadows Revenue Gain
- Dividend remains suspended as bank blames regulatory limbo
- Stock falls 6% as analysts say revenue momentum is weak
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Bill Winters’ overhaul of Standard Chartered Plc has stalled.
The emerging-market-focused lender fell the most in almost nine months after the chief executive officer sounded caution about growth prospects and blamed “extraordinary uncertainty” around regulations for a decision not to reinstate the dividend. The comments overshadowed a second quarter of revenue gains and pretax profit that doubled.