Renewed sales of the Australian dollar were the main move on major currency markets on Tuesday.» Read More
Cormac Leech, bank equity researcher at Liberum Capital and Vasu Menon, vice president wealth at OCBC Bank, joined CNBC to discuss the implications of Bob Diamond's resignation as CEO of Barclays.
Robert E. Diamond Jr., the chief executive of Barclays, told employees on Monday that he was “disappointed and angry” about the bank’s past attempts to manipulate key interest rates to bolster its bottom line.
"I am a little surprised at the timing of this as we got through the weekend and the pretty awful publicity and the attacks on Bob Diamond but I think there has been a discussion on the board that this has started to have a major impact on confidence in Barclays and they want to restore the reputation," Chris Wheeler, bank analyst at Mediobanca, told CNBC.
Bob Diamond, chief executive of Barclays, has pulled out of hosting a London fundraiser for Mitt Romney, the Republican presidential nominee, as the bank faces growing pressure over its role in the price-fixing of lending rates, the Financial Times reports.
Bob Diamond is threatening to reveal potentially embarrassing details about Barclays’ dealings with regulators if he comes under fire at a parliamentary hearing on Wednesday over the Libor rate-setting scandal, according to people close to the bank’s chief executive. The FT reports.
Stocks trimmed most of their losses to close narrowly mixed Monday as hopes for stimulus from the Federal Reserve helped limit losses following a disappointing manufacturing report.
British bank Barclays was attempting to manipulate the Libor interest rate and falsely reporting it, CFTC Chairman Gary Gensler told CNBC’s “Squawk Box.”
U.S. stock index futures were narrowly mixed Monday following a sharp rally in the previous session as investors looked for direction in response to new initiatives agreed in Europe, while worries over weakness in China limited gains.
Take a look at some of Monday’s morning movers:
Discussing the resignation of Marcus Agius, Barclays' CEO, less than a week after the British bank agreed to pay $450 million in fines for its role in fixing interest rate prices, with Gary Gensler, Commodity Futures Trading Commission chairman.
Stocks finished the final trading day of the weak second quarter with a huge bang as Wall Street cheered a surprise agreement by EU leaders to help the region's struggling banks.
An international response is needed to the issue of the manipulation of the Libor to ensure that cartel behavior is not possible, Sharon Bowles, Liberal Democrat MEP for South East England and chair of the European Parliament's Economic and Monetary Affairs Committee, told CNBC on Friday.
U.S. stock index futures jumped Friday after European leaders unexpectedly agreed to take action to bring down Italy and Spain’s borrowing costs and create a single banking supervisory body.
Take a look at some of Friday’s morning movers:
Take a look at some of Thursday's midday movers:
U.S. stock index futures held their losses Thursday, following the jobless claims and GDP data and amid skepticism that European leaders would overcome their differences to form a solution to tackle the ongoing debt crisis.
A multiyear, global investigation into the setting of interest rates has focused on often complextrades in the financial centers of New York, London and Tokyo. But the accusations in the case have real-life consequences for consumers and businesses in the United States, the New York Times reports.
CNBC's Eamon Javers reports on the CFTC's $200 million fine for Barclays, for alleged manipulation attempts of Libor.
Take a look at some of Wednesday's midday movers:
CNBC's Eamon Javers reports the big bank will pay a total of $454 million to settle allegations that it tried to manipulate Libor rates.