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British Parliament investigating London's financial center

Jul 6, 2012
The British Parliament has started investigating the ethics of London's financial center. This follows that big scandal involving the British bank Barclays, which was fined a half billion dollars for rigging a key interest rate called LIBOR.
Posted In: banking, London, Barclays

Former Barclays CEO answers questions on LIBOR rate fixing

Jul 4, 2012
Yesterday Bob Diamond resigned as CEO of Barclays Bank, and this hour he's sitting before a Parliamentary committee in London. Parliament is investigating the possible manipulation of interest rates by Barclays and other banks.
Posted In: banking, Barclays, Bob Diamond, Parliament

Newly resigned CEO of Barclays questioned by Parliament

Jul 4, 2012
Today the freshly resigned CEO of Barclays Bank goes before a parliamentary committee in London. Parliament is investigating the possible manipulation of interest rates by Barclays and other banks.
Posted In: Barclays, banking, Bob Diamond, anti-trust

Barclays CEO Bob Diamond steps down

Jul 3, 2012
The CEO of Barclays bank is out. Bob Diamond is leaving amid a scandal over banks colluding to fix the price of one of the most important interest rates in the world.
Posted In: Barclays, banking, resign, London

Barclays CEO, COO step down over LIBOR rate manipulation

Jul 3, 2012
The CEO of Barclays Bank in London's is resigning -- and, just this hour it looks like we can add the COO -- the chief operating officer -- as well. Last week the bank settled with U.S. and European regulators over allegations it manipulated the "Libor" interest rates to its own advantage.
Posted In: banking, Barclays

Heads of Barclays resign after interest rate scandal

Jul 3, 2012
First, it was the chairman of the board said he was leaving his post; now it's the big man, Barclays CEO Bob Diamond who's stepping down effective immediately. The London-based financial services giant is accused of rigging the level of a key interest rate along with nearly two dozen other banks.
Posted In: Barclays, banking, resign, Bob Diamond

Barclays agrees to $450 million settlement over rate manipulation

Jun 27, 2012
Barclays Bank, based in London, is paying $450 million to settle securities investigations in the U.S. and the U.K. Regulators accused the bank of manipulating a critical interest rate -- the so-called "Libor" rate -- to its own advantage.
Posted In: Barclays, banking, securities

Moody's cuts ratings of major international banks

Jun 22, 2012
Moody's has downgraded the credit ratings of 15 banks in Europe and North America -- that continues to rattle markets in Asia and Europe today so far.
Posted In: Moody's, downgrade, banking

Moody's downgrades: European or global problem?

Jun 22, 2012
Global markets are down about a percent this morning after the rating agency Moody's downgraded the credit ratings of 15 of the largest banks in the world. Among them, European institutions -- but also big American banks like JP Morgan Chase and Bank of America.
Posted In: JP Morgan, banking, Moody's, downgrades

After Moody's downgrade, will banks need bailouts?

Jun 22, 2012
After U.S. markets closed yesterday, the rating agency Moody's delivered more bad news -- this time to 15 of the world's largest banks, including the biggest American banks. The fine print of the downgrade hints at more bank bailouts down the road.
Posted In: Moody's, banking, bailout

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