There may be loads of worthy developments contained in the second-quarter results statements of BP and Shell this week, but there's a chance nobody will be listening.
LIBOR, the London Interbank Offered Rate, is the average interest rate estimated by leading banks in London that they would be charged if borrowing from other banks.
Bailed-out Lloyds Banking Group appears poised to become the latest financial firm to be penalised for rigging Libor and is said to be facing a fine of between £200m and £300m.
Six bankers accusing of manipulating the Libor interest rate may have be forced to wait another two years to discover their fate.
Royal Bank of Scotland Chief Executive Officer Ross McEwan said the foreign-exchange market scandal could be more expensive to the banking industry than Libor or improperly sold loan insurance.
A former JPMorgan trader has filed an appeal with a London tribunal court to challenge civil findings made by Britain's financial watchdog against the bank over the 'London Whale' debacle of 2012, the Financial Times reported on Sunday, citing tribunal records.
You couldn't make it up!
ICAP cut CEO Michael Spencer’s bonus 75% after profit missed targets and the interdealer broker paid a fine to settle a probe by British and U.S. regulators into Libor-rigging.
ICAP, the world’s largest broker of transactions between banks, has been accused by the European Union’s antitrust arm of colluding to help rig interbank lending rates.
The chancellor, George Osborne, is expected to announce measures to increase oversight of the £3tn-a-day foreign exchange market as investigations continue into the latest allegations of benchmark-fixing in the City.
Jezri Mohideen, a former Royal Bank of Scotland manager who was fired during its investigation into Libor-rigging, sued the lender for racial discrimination and unfair dismissal.
The number of suspicious trades reported to the City regulator has rocketed in the last year, according to official figures.
Mizuho Financial Group and JPMorgan are among about 20 banks and their affiliates that must face an investor lawsuit accusing them of manipulating benchmark interest rates.
Lloyds Banking Group has suspended seven employees after it was hit with a £226m bill from regulators on both sides of the Atlantic for rigging crucial interest rates.
Germany’s financial regulator, BaFin, is extending investigations into alleged interest-rate manipulation at Deutsche Bank, German magazine Der Spiegel reported.
Adam Smith would be the perfect expert witness in the case being brought by Guardian Care Homes (nothing to do with this newspaper) against Barclays Bank, which has its first hearing in the high court on Monday.
You couldn't make it up!
ICAP has reached settlement agreements with the Financial Conduct Authority (FCA) and the U.S. Commodity Futures Trading Commission (CFTC) relating to the involvement of certain brokers in the attempted manipulation of YEN Libor by bank traders between October 2006 and January 2011
Brussels has unveiled plans to police financial market benchmarks in an attempt to prevent a repeat of the Libor and Euribor rigging scandals that erupted across the City and other financial centres last year.
"Banks don't have to beat the market to make money. They just have to beat their customers."
RBS reached a settlement with the European Commission, in relation to competition law breaches concerning certain interest rate derivatives referenced to the London Interbank Offered Rate based on Japanese Yen (Yen LIBOR) and the Euro Interbank Offered Rate ('EURIBOR').