Ex-Tullett broker released on bail in Libor case


A former employee of the British brokerage firm Tullett Prebon Group made his first appearance in a London court on Tuesday in a criminal inquiry into the manipulation of a global benchmark interest rate, and he was released on bail.

Terry Smith could soon leave Tullett Prebon

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Terry Smith, the chief executive of Tullett Prebon and a prominent figure in London's financial circles, could leave the interdealer broker as early as the end of June, a source familiar with situation told Reuters on Tuesday.

Tullett Prebon to trim headcount

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British interdealer broker Tullett Prebon said on Friday it would cut costs and trim headcount as challenging market conditions continued to weigh on its business, sending revenue 12% lower in the first four months of the year.