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Barclays PLC

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  • Libor Scandal Shows Many Flaws in Rate-Setting Friday, 20 Jul 2012 | 10:35 AM ET
    A woman leaves a branch of Barclays Bank in central London, Monday, April 23, 2007. ABN Amro NV and Barclays PLC announced Monday they have agreed to merge, in the largest cross-border combination in European banking history. (AP Photo/Sang Tan)

    The flaws in the rate-setting process have been exposed by the latest banking scandal. Regulators around the world are investigating whether big banks gamed the rates for their own benefit before and after the financial crisis, the New York Times reports.

  • Sheila Bair

    "Looking at those emails, it looks like they had pretty explicit notification of some very bad behavior, and I don't understand why they didn't investigate," Bair told CNBC.

  • Rate Probe Turns to Big Bank Quartet Thursday, 19 Jul 2012 | 4:53 AM ET

    Regulators are focusing on at least four of Europe’s biggest banks as they investigate the attempted manipulation of the region’s benchmark interest rate, The Financial Times reports.

  • How Could Libor Regain Credibility? Thursday, 19 Jul 2012 | 1:50 AM ET
    Credit Crisis

    The very existence of the London Interbank Offered Rate (Libor) has been threatened by the escalating scandal involving banks allegedly manipulating the rate during the credit crisis.

  • How to Fix Libor  Thursday, 19 Jul 2012 | 12:50 AM ET

    What exactly can be done to fix the Libor system or is it worth fixing at all? Catherine Boyle has more.

  • The thousands of community banks have often said their much larger counterparts have trampled on them. Now some hope the latest Wall Street scandal could give them ammunition to strike back.

  • Libor 'Structurally Flawed,' Says Fed Wednesday, 18 Jul 2012 | 2:14 AM ET
    Federal Reserve Board Chairman Ben Bernanke prepares to testify before the Senate Banking, Housing and Urban Affairs Committee on Capitol Hill.

    Libor is “structurally flawed” and an international effort would be needed to restore the rate’s credibility as the leading benchmark for mortgages, derivatives and corporate lending around the world, Ben Bernanke, US Federal Reserve chairman, told Congress on Tuesday, the Financial Times reports.

  • Geithner: US Acted 'Early' & 'Forcefully' on Libor  Wednesday, 18 Jul 2012 | 12:00 AM ET

    In this excerpt from a live interview at the "Delivering Alpha" conference presented by CNBC and Institutional Investor, Treasury Secretary Timothy Geithner defends his actions in 2008 after the New York Federal Reserve learned that Barclays and other banks were not reporting accurate data on a key London-based interest rate. He also promises more enforcement is coming.

  • Is the British Banking Industry a 'Lawless Cesspit?'  Tuesday, 17 Jul 2012 | 4:10 AM ET

    "There is a real confluence of events here, the British banks are getting repeatedly nailed by the US authorities this month, there is a risk here that the US authorities, whether it is lawmakers or regulators start to perceive the British banking industry as a lawless cesspit," David Enrich, European banking editor at the Wall Street Journal, told CNBC.

  • All the Banks Were Fixing Libor: Expert  Tuesday, 17 Jul 2012 | 1:30 AM ET

    "The Bank of England at that time were desperate to try and get interest rates down because they were so worried about the state of the economy and the state of the financial system and every bank has an incentive to show that it has a low cost of funds to show that it is financially stable," Jan Toporowski, professor of Economics, SOAS, told CNBC.

  • Bank of England to Face Libor Scrutiny?  Tuesday, 17 Jul 2012 | 12:30 AM ET

    Bank of England governor Mervyn King and his deputy Paul Tucker are going to be in front of the Treasury Select Committee the Libor scandal isn't officially on the agenda but clearly that is going to come up and may have implications for central bank succession planning. Catherine Boyle has more.

  • Wheat field

    A drought-fueled rally in soybeans, corn and wheat is raising fears of another round of food price inflation, posing an unwelcome complication for policymakers, particularly in emerging Asia, where higher consumer prices may hinder their ability to ease monetary policy.

  • Risky Trades Getting Even Riskier: Strategist Monday, 16 Jul 2012 | 4:13 PM ET
    Bull or Bear Market

    Trying to ride a risk rally in currencies? Better hold on tight.

  • Stephanie Link Eyeing This Pullback Monday, 16 Jul 2012 | 1:45 PM ET

    Trader Stephanie Link is keeping a close eye on a sell-off. "If it gets down to the low $80's I'd pull the trigger," she says.

  • Carly Fiorina: It’s Time to Look at the Board Monday, 16 Jul 2012 | 9:23 AM ET

    In light of the recent scandals at Barclays, JPMorgan Chase, and others, the obvious question that must be asked is: Where was the board?

  • US Is Building Criminal Cases in Rate Fixing Monday, 16 Jul 2012 | 6:04 AM ET
    Gavel

    As regulators ramp up their global investigation into the manipulation of interest rates, the Justice Department has identified potential criminal wrongdoing by big banks and individuals at the center of the scandal. The New York Times reports.

  • Mary Jo Jacobi, fmr assistant US Secretary of Commerce, told CNBC, "I don't see how we can avoid the Libor scandal blowing up, it is a big scandal you have disclosures from the New York Fed going back to 2008, you have Deutsche Bank turning states evidence in a plea for leniency, who knows where else it is going to go."

  • Ex Barclays COO to Testify Before UK Lawmakers  Monday, 16 Jul 2012 | 3:30 AM ET

    Tim Bush, head of governance and Financial Analysis at PIRC (Pensions Investment Research Consultants Limited) and Simon Nixon, European editor at the WSJ, joined CNBC to discuss whether the the Libor scandal will shift focus from Barclays.

  • How Will the Libor Scandal Affect London? Friday, 13 Jul 2012 | 4:25 AM ET

    The Libor rate-rigging scandal has had an adverse effect on London’s reputation as a leading financial center, Mark Boleat, policy chairman at the City of London Corporation, told CNBC.

  • Angry Birds iPhone app

    Italy gets a downgrade; videogame sales continue to plummet; Ackmans sets sights on P&G; Lexmark revises outlook and Google’s Larry Page is back in the office.