Tag Archives: BBC News

Libor Scandal : Seven Banks Summoned In US Probe – 16 August 2012

Barclays was fined for trying to manipulate the Libor rates

Seven banks, including HSBC and Royal Bank of Scotland, are to be questioned in the US for alleged manipulation of the Libor inter-bank lending rate.

The other banks receiving subpoenas by the New York attorney general are Barclays, Citigroup, Deutsche Bank, JPMorgan and UBS. Continue reading

BBC News – Sean FitzPatrick Is Third Ex-Anglo Irish Bank Executive To Be Arrested In 24 Hours – 24 July 2012

Former Anglo Irish Bank chairman Sean FitzPatrick has been arrested at Dublin airport

The former head of Anglo Irish Bank, Sean FitzPatrick, has been arrested by Irish police in connection with alleged financial irregularities at the bank.

Mr FitzPatrick has been appearing in court in Dublin.

He is the third former senior executive from Anglo Irish Bank to appear in court within the past 24 hours.

All three men face 16 charges in relation to an alleged failed attempt to prop up Anglo’s share price after a stock market collapse.

http://www.bbc.co.uk/news link to original article

BBC News – Rupert Murdoch Resigns As News International Director – 22 July 2012

Rupert Murdoch has resigned from a string of directorships controlling his News Corporation’s UK newspapers.

Mr Murdoch, 81, quit directorships at NI Group Ltd, NewsCorp Investments and Times Newspaper Holdings on Friday.

News Corp plans to split into two firms, separating its newspaper and book publishing interests from its now dominant TV and film enterprises.

Read the whole story at http://www.bbc.co.uk/news link to original article

BBC News – China Pledges $20 Billion In Credit For Africa At Summit – 19 July 2012

Mr Hu called for better co-operation with African countries

China has pledged $20bn (£12.8bn) in credit for Africa over the next three years, in a push for closer ties and increased trade.

President Hu Jintao made the announcement at a summit in Beijing with leaders from 50 African nations. Continue reading

BBC News – Military Sued Over Al-Awlaki Yemen Drone Death – 19 July 2012

( Lucas: This is a lawsuit about the constitutionality  and legality of deploying these US drones therefore an  interesting case.)

Relatives of three Americans killed in drone strikes in Yemen are suing top Pentagon and CIA officials, saying the killings were unconstitutional.

Cleric Anwar al-Awlaki and Samir Khan died in September. Awlaki’s son Abdulrahman, 16, died in October.

Relatives accuse Defence Secretary Leon Panetta, CIA Director David Petraeus and two military commanders of approving and directing the strikes.

The legality of US use of drones has been in the spotlight in recent weeks.

Read more at : http://www.bbc.co.uk/news link to original article

BBC News – North Korea Military Head Ri Yong-Ho Relieved Of Post – 16 July 2012

 North Korean leader Kim Jong-Un (R) with army chief Ri Yong-ho during a military parade, 16 February 2012 The departure of Ri Yong-ho (L) is being scrutinised for clues about Kim Jong-un’s leadership style

North Korean military chief Ri Yong-ho has been removed from all official posts, according to state media.

As well as being head of the army, he was vice-chairman of the powerful Central Military Commission and held top posts in the ruling Workers’ Party.

In a short statement, the party said Mr Ri had been removed from his posts “because of illness”.

The BBC’s Seoul correspondent Lucy Williamson says there is widespread scepticism about that explanation.  Continue reading the main story http://www.bbc.co.uk/news

BBC News – Barclays Bank Chairman Marcus Agius To Resign – 1 July 2012

Marcus Agius is to resign as the chairman of Barclays in the wake of the Libor lending rate scandal.

There will be an announcement on Monday morning, BBC business editor Robert Peston says.

Read the whole story at :  http://m.bbc.co.uk/news/uk-18665719

BBC News – Eurozone Agrees On Bank Recapitalisation – 29 June 2012

EU leaders have agreed to use the eurozone’s bailout fund to support struggling banks directly, without adding to government debt.

Speaking after 13 hours of talks in Brussels’, EU chief Herman van Rompuy also said a eurozone-wide supervisory body for banks would be created.

Officials said the plans could be finalised during July.

Read more at : http://www.bbc.co.uk/news link to original article

BBC News – More Banks Face Interest Rate Rigging Investigation – 28 June 2012

A number of banks are being investigated and could face sanctions after Barclays was fined £290m ($450m) for trying to manipulate interest rates at which banks lend to each other.

Regulators in Europe, the US and Asia have said that investigations into other banks are “ongoing”.

The UK’s Financial Services Authority said the early signs were that Barclays had not been the only firm involved.

Barclays has said its actions “fell well short of standards”.

Read the whole story at : http://www.bbc.co.uk /news  link to original article

BBC News – Congress Contempt Charge For US Attorney General Holder – 21 June 2012

BBC News US & Canada : A US House of Representatives committee has voted along party lines to hold Attorney General Eric Holder in contempt of Congress.

Mr Holder refused to hand over papers relating to a botched sting operation.

The move comes after President Barack Obama used his executive privilege to withhold documents sought by the House Oversight Committee.

But Mr Holder said claims that he did not co-operate over Operation Fast and Furious were “untrue”.

Read the whole story at : http://www.bbc.co.uk/news link to original article