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3 men arrested for involvement in Libor probe

BBC-Three men have been arrested in connection with continuing investigations into the manipulation of the Libor inter-bank lending rate. The three men – aged 33, 41 and 47 – have been taken to a London police station for interview. The

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UK Regulator Outlines LIBOR Overhaul

Britain’s financial regulator has laid out a 10-point plan to overhaul the handling of a key global interest rate, following a review into the Libor rate – rigging scandal involving major banks across several countries. FSA managing director, Martin Wheatley

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Barclays New Boss Pledges to Rebuild Bank’s Reputation

Antony Jenkins, the new boss of Barclays, pledges quick and bold reforms to rebuild the reputation of the bank. Barclays’ reputation was hurt after a series of scandals, including Libor interest rate-fixing. He said the bank will move to put

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Barclays faces yet another investigation

Adding to the stormy times of Barclays, UK’s Serious Fraud Office has started an investigation into their deal with the Qatar Holding LLC, part of sovereign wealth fund Qatar Investment Authority. Barclays has not revealed which payments between it and

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Barclays appoints new CEO

Barclays has appointed Antony Jenkins to be its new chief executive, following the resignation of Bob Diamond in the wake of the Libor interest rate-fixing scandal. Mr Jenkins is currently in charge of Barclays Retail and Business Banking and has

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Libor Scandal: Seven banks summoned for questioning

Seven banks, including HSBC and Citigroup, have been summoned to be questioned in the US for the alleged manipulation of the Libor inter-bank lending rate. The other banks summoned by the New York attorney general are Barclays, UBS, JP Morgan,

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Libor System to be overhauled

A review, headed by the managing director of the Financial Services Authority (FSA) Martin Wheatley, said that the Libor rate-setting system is not a feasible option. The Libor rate is a fundamental market rate set by the leading banks in

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David Walker as Barclays new Chairman

Barclays has appointed David Walker as the new Chairman who is a senior advisor to the American bank Morgan Stanley, having previously been chairman of Morgan Stanley International. Sir David was also an executive director of the Bank of England

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“Libor system structurally flawed”—Ben Bernanke

Ben Bernanke, Chairman of the US central bank, said he did not have full confidence in the Libor system, as it is “structurally flawed”. The US was informed of some wrongdoings happening in the bank in 2008 and recommendations were

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MPs not convinced by Bob Diamond’s explanations

Some MPs were surprised at the explanation provided by Barclays former CEO Bob Diamond regarding the Libor-rigging scandal. Mr. Diamond said he had only learnt the true extent of the scandal this month, and he called the employees’ behavior “reprehensible”.

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Barclays former CEO Bob Diamond to be grilled by MPs’ Questioning

Bob Diamond has to face the MPs and answer their questions regarding the Libor-rigging scandal. The ex-boss of Barclays stepped down from his position on Tuesday. He is giving evidence to the Treasury Committee and is likely to be quizzed

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Barclays Chief Executive Bob Diamond Resigns

Amid Libor scandal, Barclays boss Bob Diamond has stepped down, saying he was leaving because the external pressure on the bank risked “damaging the franchise.” Diamond’s decision was welcomed by Chancellor George Osborne. “This is the first step towards a

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Barclays boss not resigning

The boss of Barclays, Bob Diamond, announced that he will not resign after Barclays is found guilty of manipulating interest rates. Mr. Diamond condemned the bank’s employees for rigging the key lending rate to make profits for their own benefit.

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Barclays’ Deception- a ‘Systematic Dishonesty’

Barclays manipulation of interest rates looks like a deliberate strategy, which the former chief executive of Barclays Martin Taylor called it ‘systematic dishonesty’. Barclays was fined USD 450m for trying to manipulate interest rates. However, there are indications that other

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15 major banks downgraded by Moody’s

Credit ratings agency Moody’s has downgraded 15 global banks and financial institutions. Moody’s based their decision on the bank’s exposure to volatility in the world’s financial markets and risk of outsized losses. According to John Raymond the senior banking analyst

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