Lloyds Banking Group (LBG) is nearing a settlement with US and UK regulators for its alleged role in the manipulation of Libor rates – the major interest rate benchmark that determines the cost of up to $350 trillion worth of global financial products.
The European Commission added new names and companies to its blacklist on Thursday over the Ukrainian crisis, according to diplomats. However, 'stage three' economic sanctions against Russia have again fallen flat.
A modest increase in interest rates could render almost 25 percent of UK households in severe financial stress, according to a report published on Thursday. The Bank of England (BOE) has confirmed that such rate hikes are imminent.
Facebook showed a 138 percent increase in Q2 profit compared to 2013 sending shares to a record high of $75.13 in after-hours trading on Wednesday. The results refute the boss of the Fed Janet Yellen’s concerns about overvaluation of social media stocks.
Bitcoin’s latest expansion is into commercial airspace after Latvian airline airBaltic announced customers can start using bitcoins to pay for tickets. AirBaltic is the first airline to offer a bitcoin payment option.
Britain’s Serious Fraud Office (SFO) is investigating the alleged use of chatrooms by forex traders in a conspiracy to rig exchange rates. An estimated $5.3 trillion in currencies changes hands daily.
Barclays, RBS, HSBC and Lloyds may be forced to break up following a finance watchdog’s inquiry. The watchdog claims Britain's banking sector is characterized by anti-competitiveness and a failure to meet ordinary citizens and small business' needs.
Russian firms and banks that fell under new US sanctions have enough funds to ride out the restrictions, Aleksandr Prosviryakov, a partner at Lakeshore International, an asset management firm, told RT in Moscow.