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Barclays picks new chairman to steer bank amid Libor crisis
Aug 9th, 2012
Barclays on Thursday said industry veteran David Walker would become its new chairman from November, succeeding Marcus Agius who resigned over the Libor rate-rigging scandal that has rocked the British bank. (Source: AFP) -
(Reuters) - Citigroup Inc has sued Barclays Plc to recover more than $141 million for providing foreign exchange services to a unit of Lehman Brothers Holdings Inc soon after Lehman's bankruptcy. The complaint filed late Monday in the U.S. District Court in Manhattan related to Citigroup's role in the Continuous Linked Settlement system, ... [Full Article]
By Clara Ferreira-Marques and Emma Farge LONDON/ZUG, Switzerland (Reuters) - Glencore Xstrata Chairman John Bond surprised investors on Thursday by announcing he had been voted out of the top job at the miner and trader at the group's first annual shareholders' meeting. Bond gave no explanation, but as the meeting began in Zug, Switzerlan... [Full Article]
LONDON (Reuters) - Chancellor George Osborne published a formal remit for the Bank of England's Financial Policy Committee on Tuesday, emphasising the need to focus on short-term growth. The government set up the Financial Policy Committee in the wake of the 2008 financial crisis with a mandate to look out for the stability of the financial sy... [Full Article]
By John O'Donnell BRUSSELS (Reuters) - The European Central Bank could use its new supervisory role from next year to single out weak banks and make it harder for them to get its financial support, people familiar with the matter say. Such a hardening of approach would keep ECB funding flowing to Europe's most important lenders but compel... [Full Article]
By Herbert Lash NEW YORK (Reuters) - The dollar soared on Friday against a basket of currencies, reaching a nearly three-year peak, and global equity indexes gained as speculation mounted over whether the Federal Reserve would soon begin to rein in its asset-buying program. Wall Street advanced, with the benchmark S&P 500 rebounding from its wo... [Full Article]
BERLIN (Reuters) - Germans lamented their unexpectedly poor showing at the Eurovision Song Contest, blaming Chancellor Angela Merkel's tough stance in the euro zone crisis for their failure to win any points from 34 of the 39 countries voting. Denmark's Emmelie de Forest won the event, watched by around 125 million people across Europe, w... [Full Article]
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