Libor http://www.globalpost.com/taxonomy/term/26446/all en Barclays boss tells staff: adopt new values or leave http://www.globalpost.com/dispatch/news/thomson-reuters/130117/barclays-boss-tells-staff-adopt-new-values-or-leave <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Thomson Reuters </div> </div> </div> <!--paging_filter--><p>LONDON, Jan 17 (Reuters) - Barclays' new boss has told staff they should leave if they do not want to sign up to a set of standards aimed at rebuilding the British bank's reputation after a string of scandals.</p> <p>Antony Jenkins, who took over as chief executive at the end of August after the bank was rocked by an interest rate rigging scandal, said bonuses and performance would be assessed against a new "Purpose and Values" blueprint.</p> <p><a href="http://www.globalpost.com/dispatch/news/thomson-reuters/130117/barclays-boss-tells-staff-adopt-new-values-or-leave" target="_blank">read more</a></p> Barclays Libor Thomson Reuters Thu, 17 Jan 2013 10:30:37 +0000 5735503 at http://www.globalpost.com European shares turn negative as banks, techs slip http://www.globalpost.com/dispatch/news/thomson-reuters/130129/european-shares-turn-negative-banks-techs-slip <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Thomson Reuters </div> </div> </div> <!--paging_filter--><p>LONDON, Jan 29 (Reuters) - European equities turned negative on Tuesday, with Royal Bank of Scotland leading European banks lower after a media report that the British bank was close to a settlement over Libor interest-rate rigging allegations.</p> <p>The market also came under pressure from weaker tech stocks , down 0.5 percent, with Germany's Software AG falling 14.5 percent after saying it expected 2013 earnings per share to be down from the previous year.</p> <p><a href="http://www.globalpost.com/dispatch/news/thomson-reuters/130129/european-shares-turn-negative-banks-techs-slip" target="_blank">read more</a></p> Business Labor Law Libor Technology Thomson Reuters Tue, 29 Jan 2013 11:15:03 +0000 5740945 at http://www.globalpost.com UPDATE 2-Barclays finance director Lucas, top counsel to retire http://www.globalpost.com/dispatch/news/thomson-reuters/130203/update-2-barclays-finance-director-lucas-top-counsel-retire <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Thomson Reuters </div> </div> </div> <!--paging_filter--><p>* Barclays CFO Lucas, General Counsel Harding to retire</p> <p>* Will only leave when replacements found, likely to be some time</p> <p>* Lucas under investigation for 2008 Qatar fundraising</p> <p>* Lucas says appropriate time "to pass the mantle on"</p> <p>By Steve Slater and Paul Sandle</p> <p><a href="http://www.globalpost.com/dispatch/news/thomson-reuters/130203/update-2-barclays-finance-director-lucas-top-counsel-retire" target="_blank">read more</a></p> Banking in the United Kingdom Barclays Business Chris Lucas Labor Law Libor Thomson Reuters Sun, 03 Feb 2013 19:45:15 +0000 5744723 at http://www.globalpost.com (Blank Headline Received) http://www.globalpost.com/dispatch/news/thomson-reuters/130206/blank-headline-received-7 <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Thomson Reuters </div> </div> </div> <!--paging_filter--><p>FSA SAYS RBS LIBOR MISCONDUCT INCLUDED YEN, SWISS FRANC, DOLLAR SUBMISSIONS FROM JAN 2006-NOV 2010</p> Currency Libor Thomson Reuters Wed, 06 Feb 2013 13:30:36 +0000 5747528 at http://www.globalpost.com AFP World Economic News Summary http://www.globalpost.com/dispatch/news/afp/130206/afp-world-economic-news-summary <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Agence France-Presse </div> </div> </div> <!--paging_filter--><p>The top world economic stories on Wednesday:</p> <p>Britain-banking-scandal-RBS-Libor-fine</p> <p>LONDON: Royal Bank of Scotland said it had agreed to pay penalties totalling $612 million (453 million euros) to US and British regulators to settle allegations of trying to rig the setting of the key Libor interst rate.</p> <p>Stocks-Japan</p> <p>TOKYO: Tokyo's benchmark Nikkei 225 index soared to the highest close since September 2008, when the global financial crisis was rippling across global equity markets.</p> <p>Finance-public-debt-EU-forex-politics</p> <p><a href="http://www.globalpost.com/dispatch/news/afp/130206/afp-world-economic-news-summary" target="_blank">read more</a></p> ArcelorMittal CAC 40 Human Interest Libor AFP Wed, 06 Feb 2013 14:30:57 +0000 5747595 at http://www.globalpost.com Royal Bank of Scotland posts 2012 net loss of £5.971 billion http://www.globalpost.com/dispatch/news/afp/130228/royal-bank-scotland-posts-2012-net-loss-5971-billion <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Agence France-Presse </div> </div> </div> <!--paging_filter--><p>State-rescued Royal Bank of Scotland said Thursday that net losses almost tripled to £5.97 billion in 2012, when it was hit by compensation payouts, Libor rate-rigging fines and a vast accounting charge.</p> <p>The enormous loss after taxation, equivalent to $9.05 billion or 6.89 billion euros, compared with a shortfall of £1.997 billion in 2011, the lender announced in a results statement. It marked the bank's fifth successive annual net loss.</p> <p><a href="http://www.globalpost.com/dispatch/news/afp/130228/royal-bank-scotland-posts-2012-net-loss-5971-billion" target="_blank">read more</a></p> Banking Finance Libor Royal Bank of Scotland AFP Thu, 28 Feb 2013 08:15:46 +0000 5769400 at http://www.globalpost.com Bankers get one last bonus season before EU cap on payouts http://www.globalpost.com/dispatch/news/thomson-reuters/130320/bankers-get-one-last-bonus-season-eu-cap-payouts <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Thomson Reuters </div> </div> </div> <!--paging_filter--><p>By John O'Donnell</p> <p>BRUSSELS (Reuters) - Bankers in Europe will have one final bonus season before they are barred from awarding themselves payouts worth more than their salary, EU lawmakers agreed on Wednesday, paving the way for the first cap of its kind globally.</p> <p>The cap is designed to address public anger at a bonus-driven culture many European politicians believe encouraged the risk-taking that led to the near-collapse of some of the region's biggest banks.</p> <p><a href="http://www.globalpost.com/dispatch/news/thomson-reuters/130320/bankers-get-one-last-bonus-season-eu-cap-payouts" target="_blank">read more</a></p> Bank Banking Barclays Business Finance Financial services Libor Politics Thomson Reuters Wed, 20 Mar 2013 23:30:04 +0000 5789314 at http://www.globalpost.com Europe sets out plans to stop benchmark rigging http://www.globalpost.com/dispatch/news/thomson-reuters/130918/eu-softens-new-rules-tackle-benchmark-rigging <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Thomson Reuters </div> </div> </div> <!--paging_filter--><p>By John O'Donnell and Barbara Lewis</p> <p>BRUSSELS (Reuters) - European Union regulators proposed new rules on setting commodity and interest-rate benchmarks on Wednesday that backed away from their earlier plans for sweeping EU oversight of the multi-trillion-euro markets.</p> <div class="field field-type-text field-field-wire-copyright"> <div class="field-items"> <div class="field-item odd"> <p><a href="http://thomsonreuters.com" class="button wire reuters"></a></p> <p><span>Copyright Thomson Reuters, 2013.</span></p> </div> </div> </div> <p><a href="http://www.globalpost.com/dispatch/news/thomson-reuters/130918/eu-softens-new-rules-tackle-benchmark-rigging" target="_blank">read more</a></p> European Union Federalism Libor Politics Thomson Reuters Wed, 18 Sep 2013 11:46:25 +0000 5937415 at http://www.globalpost.com RBS handed FX trader messages to UK regulator: source http://www.globalpost.com/dispatch/news/thomson-reuters/131009/rbs-handed-fx-trader-messages-uk-regulator-source <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Thomson Reuters </div> </div> </div> <!--paging_filter--><p>LONDON (Reuters) - Royal Bank of Scotland (RBS) &lt;RBS.L&gt; has handed instant messages sent by a former currency trader to counterparts at other banks to Britain's financial regulator as part of its probe into the foreign exchange market, a source familiar with the matter said.</p> <p>Investigations into the $5 trillion-a-day market have broadened with authorities in Switzerland and Britain looking into whether traders at banks sought to manipulate benchmark foreign currency rates.</p> <div class="field field-type-text field-field-wire-copyright"> <div class="field-items"> <div class="field-item odd"> <p><a href="http://thomsonreuters.com" class="button wire reuters"></a></p> <p><span>Copyright Thomson Reuters, 2013.</span></p> </div> </div> </div> <p><a href="http://www.globalpost.com/dispatch/news/thomson-reuters/131009/rbs-handed-fx-trader-messages-uk-regulator-source" target="_blank">read more</a></p> Banking Finance Libor Thomson Reuters Wed, 09 Oct 2013 14:31:59 +0000 5956138 at http://www.globalpost.com UK regulator probes private accounts of forex traders: FT http://www.globalpost.com/dispatch/news/thomson-reuters/131118/uk-regulator-probes-private-accounts-forex-traders-ft <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Thomson Reuters </div> </div> </div> <!--paging_filter--><p>(Reuters) - The UK's Financial Conduct Authority (FCA) is probing the use of personal accounts by foreign exchange traders amid allegations that traders used these accounts to trade their own money ahead of clients' orders, the Financial Times reported on Monday, citing two sources close to the investigation.</p> <p>The FT said the FCA had asked several banks to investigate whether traders used undeclared personal accounts. (<a href="http://r.reuters.com/kep74v" title="http://r.reuters.com/kep74v">http://r.reuters.com/kep74v</a>)</p> <p>A spokesman for the FCA declined to comment.</p> <div class="field field-type-text field-field-wire-copyright"> <div class="field-items"> <div class="field-item odd"> <p><a href="http://thomsonreuters.com" class="button wire reuters"></a></p> <p><span>Copyright Thomson Reuters, 2013.</span></p> </div> </div> </div> <p><a href="http://www.globalpost.com/dispatch/news/thomson-reuters/131118/uk-regulator-probes-private-accounts-forex-traders-ft" target="_blank">read more</a></p> Banking Finance Libor Thomson Reuters Mon, 18 Nov 2013 21:18:30 +0000 5992812 at http://www.globalpost.com Forex rigging 'as serious as' Libor scandal http://www.globalpost.com/dispatch/news/afp/140311/forex-rigging-serious-libor-scandal <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Agence France-Presse </div> </div> </div> <!--paging_filter--><p>An ongoing probe into alleged manipulation of foreign exchange market suggests that the case is "as serious as" the Libor rate rigging scandal that rocked the financial sector, Bank of England governor Mark Carney said Tuesday. </p> <p>"This is extremely serious... this is as serious as Libor, if not more so," Carney told a panel of British MPs amid the worldwide forex investigation.</p> <p>bcp/hmn</p> <div class="field field-type-text field-field-wire-copyright"> <div class="field-items"> <div class="field-item odd"> <p><a href="http://www.afp.com/" class="button wire afp"></a></p> <p><a href="http://www.globalpost.com/terms-use#afp"><span>Copyright AFP, 2014.</span></a></p> </div> </div> </div> Libor AFP Tue, 11 Mar 2014 15:04:09 +0000 6092655 at http://www.globalpost.com Forex rigging 'as serious as' Libor scandal http://www.globalpost.com/dispatch/news/afp/140311/forex-rigging-serious-libor-scandal-0 <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Agence France-Presse </div> </div> </div> <!--paging_filter--><p>An ongoing probe into alleged manipulation of foreign exchange market suggests that the case is "as serious as" the Libor rate rigging scandal that rocked the financial sector, Bank of England governor Mark Carney said Tuesday. </p> <p>"This is extremely serious... this is as serious as Libor, if not more so," Carney told a panel of British MPs amid the worldwide forex investigation.</p> <p>bcp/hmn</p> <div class="field field-type-text field-field-wire-copyright"> <div class="field-items"> <div class="field-item odd"> <p><a href="http://www.afp.com/" class="button wire afp"></a></p> <p><a href="http://www.globalpost.com/terms-use#afp"><span>Copyright AFP, 2014.</span></a></p> </div> </div> </div> Libor AFP Tue, 11 Mar 2014 15:04:09 +0000 6092656 at http://www.globalpost.com Barclays settles second Libor-linked UK court case http://www.globalpost.com/dispatch/news/thomson-reuters/140411/barclays-settles-second-libor-linked-uk-court-case <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Thomson Reuters </div> </div> </div> <!--paging_filter--><p>LONDON (Reuters) - Barclays &lt;BARC.L&gt; has settled its second lawsuit in a week that alleged the British bank had mis-sold products that were tied to Libor benchmark interest rates.</p> <p>Barclays said on Friday it had reached a compromise in its proceedings with Portuguese construction and property firm Domingos Da Silva Teixeira in London's Commercial Court.</p> <p>"Following discussions between the parties, a commercial resolution has been reached as to the Commercial Court proceedings," Barclays said in a statement.</p> <div class="field field-type-text field-field-wire-copyright"> <div class="field-items"> <div class="field-item odd"> <p><a href="http://thomsonreuters.com" class="button wire reuters"></a></p> <p><span>Copyright Thomson Reuters, 2014.</span></p> </div> </div> </div> <p><a href="http://www.globalpost.com/dispatch/news/thomson-reuters/140411/barclays-settles-second-libor-linked-uk-court-case" target="_blank">read more</a></p> Barclays Economics Libor Thomson Reuters Fri, 11 Apr 2014 14:12:47 +0000 6119122 at http://www.globalpost.com Three former ICAP brokers in UK court on Libor fixing charges http://www.globalpost.com/dispatch/news/thomson-reuters/140415/three-former-icap-brokers-uk-court-libor-fixing-charges <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Thomson Reuters </div> </div> </div> <!--paging_filter--><p>By Clare Hutchison</p> <p>LONDON (Reuters) - Three former brokers at ICAP &lt;IAP.L&gt;, the world's largest interdealer broker, appeared in a London court on Tuesday charged with running a four-year scheme to manipulate Libor benchmark interest rates.</p> <div class="field field-type-text field-field-wire-copyright"> <div class="field-items"> <div class="field-item odd"> <p><a href="http://thomsonreuters.com" class="button wire reuters"></a></p> <p><span>Copyright Thomson Reuters, 2014.</span></p> </div> </div> </div> <p><a href="http://www.globalpost.com/dispatch/news/thomson-reuters/140415/three-former-icap-brokers-uk-court-libor-fixing-charges" target="_blank">read more</a></p> Banking Finance Libor Thomson Reuters Tue, 15 Apr 2014 18:39:21 +0000 6122363 at http://www.globalpost.com Barclays must face U.S. lawsuit over Libor, court rules http://www.globalpost.com/dispatch/news/thomson-reuters/140425/barclays-must-face-us-lawsuit-over-libor-court-rules <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Thomson Reuters </div> </div> </div> <!--paging_filter--><p>By Jonathan Stempel</p> <p>NEW YORK (Reuters) - A federal appeals court, reversing a lower court decision, said Barclays Plc &lt;BARC.L&gt; shareholders may pursue a lawsuit accusing the British bank of causing them to lose money because it manipulated the interest rate known as Libor.</p> <div class="field field-type-text field-field-wire-copyright"> <div class="field-items"> <div class="field-item odd"> <p><a href="http://thomsonreuters.com" class="button wire reuters"></a></p> <p><span>Copyright Thomson Reuters, 2014.</span></p> </div> </div> </div> <p><a href="http://www.globalpost.com/dispatch/news/thomson-reuters/140425/barclays-must-face-us-lawsuit-over-libor-court-rules" target="_blank">read more</a></p> Barclays Barclays Plc Business Economics Libor Thomson Reuters Fri, 25 Apr 2014 18:04:51 +0000 6130901 at http://www.globalpost.com