Jul 3, 2012

Marketplace Morning Report for Tuesday, July 3, 2012

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The London-based financial services giant Barclays is accused of rigging the level of a key interest rate; now both is chairman of the board and CEO Bob Diamond are stepping down. A group of former bank regulators, company CEOs and U.S.…

Segments From this episode

New group aims to break Dodd-Frank logjam

Jul 3, 2012
A bipartisan collection of heavy hitters -- including former FDIC chair Sheila Bair and former Fed chairman Paul Volcker -- are behind a new push to boost financial regulations, but their quest may be quixotic.

Germans consider life without the euro

Jul 3, 2012
As economic instability in the eurozone continues, some Germans are starting to weigh the benefits and burdens of staying with the euro. Would life be dandier with the Deutschmark?

Heat wave takes another victim: July 4th fireworks

Jul 3, 2012
Extreme heat and drought are prompting some communities to ban the use of fireworks -- including their own Fourth of July displays.

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…

GlaxoSmithKline reaches $3 billion settlement for fraud

Jul 3, 2012
GlaxoSmithKline, the huge British drug maker, will pay $3 billion in fines and compensation to the U.S. government and the states. According to the Justice Department, it's the biggest settlement in a health-care fraud case in history.

The economic challenges that Egypt still faces

Jul 3, 2012
Just one week ago Mohamed Morsi moved into the Egyptian presidential palace. Egypt has the region's third-largest economy, but income per-person is near the bottom.

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…

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.

Microsoft takes write-down to make up for Internet losses

Jul 3, 2012
Bing is no boon, so Microsoft books a $6.2 billion charge and wipes out quarterly profit.

A new recession in the third quarter?

Jul 3, 2012
Some sobering news on the latest economic data and what's trading like ahead of the 4th of July holiday?

PODCAST: Barclays CEO resigns, Microsoft gives in to losses

Jul 3, 2012
The London-based financial services giant Barclays is accused of rigging the level of a key interest rate; now both is chairman of the board and CEO Bob Diamond are stepping down. A group of former bank regulators, company CEOs and…
A Barclays employee helping to direct delegates to the Barclays bank AGM shelters under an umbrella outside the Royal Festival Hall on April 27, 2012 in London, England.
Oli Scarff/Getty Images

What's so bad about off-label uses of medication?

Jul 3, 2012
GlaxoSmithKline, the huge British drug-maker, will pay $3 billion in fines and compensation to the U.S. government and the states. They are in trouble for marketing drugs for off-label uses of its drugs.

Chesapeake Energy under investigation for collusion

Jul 3, 2012
The nation's number two natural gas driller is facing a Justice Department investigation for colluding with Encana Corporation, allegedly communicating to fix prices on land in Michigan back in 2010.

The London-based financial services giant Barclays is accused of rigging the level of a key interest rate; now both is chairman of the board and CEO Bob Diamond are stepping down. A group of former bank regulators, company CEOs and U.S. senators is trying to make some waves in Washington this election year. GlaxoSmithKline, the huge British drug-maker, will pay $3 billion in fines and compensation to the U.S. government and the states for pushing doctors to prescribe drugs for uses that weren’t approved by the FDA. And in many towns in America this Fourth of July, fear of forest fires is leading to cancelled fireworks displays.

The team

Stephen Ryan Producer, BBC