UK Arrests 3 in Libor Scandal
Britain has made the first three arrests in the Libor rate-fixing scandal , the New York Times reports. All are British nationals, aged 33, 41, and 47, adds the Wall Street Journal . The men are being...
View ArticleLibor Scandal to Cost UBS $1.6B: Report
UBS will pay $1.6 billion to settle with US and European officials in the Libor rate-fixing scandal, an insider tells Bloomberg —a penalty more than three times the size of what Barclays ponied up ....
View ArticleUBS Will Pay $1.5B in Libor Scandal
Swiss banking giant UBS will indeed pay a hefty $1.5 billion in fines in the wake of the Libor rate-rigging scandal —a much larger fine than Barclays had to dole out for its role, and the second...
View ArticleRBS to Pay $612M in Latest Libor Fines
Royal Bank of Scotland is the latest bank to owe big following the Libor rate-fixing scandal . The British institution has been fined a total of $612 million to US and British regulators: some $325...
View ArticleBarclays Slashing 3.7K Jobs
Barclays is set to cut some 3,700 jobs amid an operations overhaul, it announced today. Coming out of a strategic review, the company is looking to cut costs by some $2.7 billion, the BBC reports....
View ArticleBanks' Bad Behavior Costing Them Big: $100B
Big banks are paying dearly for their recent bad behavior: to the tune of $100 billion and counting, reports the Wall Street Journal . The top four US banks alone have paid $61.3 billion in financial...
View ArticleNYSE to Buy Scandal-Plagued Libor
Hey buddy, wanna buy a disgraced financial metric? Because the New York Stock Exchange does. It's struck a deal to buy Libor, the benchmark for global short-term interest rates that became synonymous...
View Article'Banks Around the World' Probed in Currency Scheme
Is this the next Libor? Switzerland's top market regulator has announced a sweeping investigation into an alleged conspiracy to rig benchmark currency exchange rates, the Wall Street Journal reports....
View ArticleBanks Rein in Rogue Traders —By Banning Chat Rooms
A host of big banks are considering restricting their traders' use of chat rooms, or in some cases blocking them outright, as regulators zero in on them as potential hotbeds of collusion and insider...
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