China’s state-owned airlines have had a turbulent year and are warning of first-half earnings to match when they report later this month.» Read More
HSBC is to apologize to US lawmakers for failing to have appropriate controls in place to ensure it did not facilitate the financing of terrorism and other criminal activities, transgressions that analysts estimate may cost it up to $1 billion in fines.The FT reports.
Cities, states, and municipal agencies nationwide are looking at whether they suffered damages from the Libor scandal, and weighing legal action. Brian Gardner, Keefe, Bruyette & Woods, and Mark Calabria, Cato Institute, weigh in. "It's important to separate out two issues--one, you had the Libor manipulations before the crisis that were directly aimed at benefiting Barclays, and the other part was during the crisis," says Calabria.
One of the oddest things about the Barclays Libor manipulation scandal is that no one has actually demonstrated that the British bank ever successfully manipulated Libor.
Cities and states are now filing lawsuits against more than a dozen banks, claiming the alleged rate-rigging scandal is partly to blame for their financial distress. Zachary Karabell, River Twice Research, and attorney Andrew Stoltmann, share their opinions over just how big this could get.
Former chair of the FDIC, Sheila Bair, discusses the looming fiscal fiasco in Europe; JPMorgan's trading losses; and weighs in on Barclays rate fixing scandal.
As unemployment climbed and tax revenue fell, the city of Baltimore laid off employees and cut services in the midst of the financial crisis. Its leaders now say the city’s troubles were aggravated by bankers’ manipulation of a key interest rate linked to hundreds of millions of dollars the city had borrowed.
CNBC's Jackie DeAngelis and Eamon Javers report on the growing Libor scandal, and discuss Texas' win of the "Top State for Business" title in CNBC's annual study.
We know for a certainty that derivatives traders at Barclays were influencing the people charged with submitting the bank's Libor figures to fudge the numbers. What remains a mystery, however, is what these guys thought they were doing.
The next chapter in the Barclays-Bank of England interest rate fixing saga is unfolding right now, reports CNBC's Kelly Evans.
Former Barclays CEO Martin Taylor says he had asked Bob Diamond to stay on as head of Barclays Capital back in 1998 after the latter offered to resign following losses of hundreds of millions of pounds from Russia's debt default.
The impact of Europe's debt crisis on US companies is about to come out in the wash as second-quarter earnings season kicks off with Alcoa on Monday. Plus, China economic data.
Now that Barclays has admitted that for years it rigged its submissions for the London Interbank Offered Rate, or Libor, it’s probably worth taking a closer look at how this key interest rate benchmark is calculated.
Ready for some good economic news? Don't ask the currency strategists at Barclays Capital.
Stocks eased off their worst levels in the final hour of trading, but still finished firmly in the red Friday on the heels of a disappointing June government jobs report.
Mark Newton, Greywolf Execution Partners, and Peter Boockvar, Miller Tabak, discuss whether it's time to buy Barclays amid allegations that the bank manipulated the Libor rate.
Barclays may have lost its chairman, chief executive and chief operating officer but the bank remains as defiant as ever about the Libor scandal.
Famed market timer Doug Kass believes the market is at a critical juncture. And he doesn’t think it takes much more for it to tip over, entirely.
Warren Buffett likes bank stocks, just not investment banks. And for good reason.
Philip Parker, Founder, Managing Director and CIO at Parker Asset Management and Justin O'Brien, Director, Centre of Law, Markets and Regulation at The University of New South Wales debate on the impact of the Libor scandal on the banking industry and whether there will be another form of rate that will be used instead.
Stocks closed lower in thin trading Thursday after a round of interest rate cuts by major central banks and as investors remained cautious ahead of Friday’s key government jobs report.