The euro bounced back from two-year lows against a slightly weaker dollar on Monday, with Greece's election among risks to a calmer mood.» Read More
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."
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.
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.
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.
CNBC's Brian Shactman and Eamon Javers report the New York Fed is expected to release its report on the LIBOR case tomorrow, and HSBC is preparing to pay big fines for not having necessary controls in place to prevent terror financing.
MIT Professor Simon Johnson points out that it is a mistake to treat the Libor scandal as confined to Barclays.
The softening global economy is leading central banks to cut rates, and that could change your carry trade strategy.
"This is a very big blow for Barclays, it's a blow for banks, it's a blow for London, the question is how much? Because the first big bank to be fined is in London it is certainly having an adverse effect on reputation," Mark Boleat, policy chairman at the City of London Corporation, told CNBC.
The decision by U.S. regulators to overhaul supervision of the country's largest banks following the financial crisis left front-line suprevisors without a deep knowledge of JPMorgan's trading operations during a brief yet critical moment, the New York Times reports.
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.
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.
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.
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.
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.