Standard Chartered shares rally on US settlement

Standard Chartered shares have rallied after it agreed to pay $340m (£217m) to New York regulators to settle claims that it hid transactions with Iran.

The bank, accused of laundering as much as $250bn, had been threatened that its US banking licence may be revoked.

Mark Gregory reports from New York.

Report includes interviews with Neil Barofsky, Former US Financial Regulator and Neil Weinberg, Editor, American Banker