Bank of England retains low interest rate
LONDON — Britain’s central bank decided on Thursday to keep its benchmark interest rate unchanged at a record low in the face of more evidence that the country’s economic recovery was gaining speed.
Regulators fine British firm ICAP $87 mil in Libor scandal
LONDON — U.S. and British authorities moved a step further Wednesday in their investigation into the manipulation of the benchmark interest rate known as Libor, fining the British financial firm ICAP a combined $87 million for its role.
HSBC net profit fell due to record fine for settling laundering charges
LONDON — HSBC, Britain’s biggest bank, said Monday that its net profit fell 17 percent last year because of a record fine to settle money laundering charges and changes related to the value of its debt.
European central bankers criticize role of rating agencies
LONDON — Two European central bank chiefs are urging investors to pay less attention to credit rating agencies and to consider other factors in assessing what the region’s debt is worth.
British regulator takes partial blame for RBS failure
LONDON — Britain’s financial regulator said Monday that it was partly to blame for the failure of Royal Bank of Scotland, and it proposed new preventive measures, including holding bank executives more accountable for bad decisions.
Stimulus Also Requires Stability, Bernanke Says
The chairman of the Federal Reserve, Ben S. Bernanke, warned Tuesday that the highly unpopular job of using taxpayer money to bail out financial institutions in the United States and other countries was far from over.
Three European Central Banks Cut Interest Rates Sharply
The top three European central banks cut interest rates on Thursday in the face of increasingly dire evidence that much of Europe was moving into a serious recession.
London Police Faulted in 2005 Killing Of Brazilian Citizen on Subway Train
London’s police force on Thursday was found guilty of putting the public at risk during a flawed counterterrorism operation in 2005 that led to the killing of an innocent Brazilian electrician on a subway train.