Not a good week for Standard Chartered. As if a profit warning that coincided with the resignation of financial markets chief Lenny Feder wasn't bad enough, the bank, which is the shirt sponsor of Liverpool FC, was dragged into the debate about Luis Suarez, the Merseyside club's Uruguayan striker who has been banned for biting Italy's Giorgio Chiellini during the World Cup. Football would have been the furthest thing from the mind of StanChart's chief executive Peter Sands as he sought to convince investors about the bank's strategy, and he was understandably keen to palm the question away, saying: "It's a matter for FIFA to investigate. We are happy about our partnership with Liverpool."
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