Six financial brokers were "willing and enthusiastic" players in a conspiracy to fix the Libor benchmark interest rate, prosecutors said as their trial opened on Tuesday. The men, known by nicknames including "Lord Libor" and "Big Nose", acted to "corrupt
A former foreign exchange trader fired by Royal Bank of Scotland said he was a scapegoat and that the state-backed bank had "dishonestly contrived" his dismissal to divert attention from its own failings. Ian Drysdale is claiming unfair dismissal in a Lon
Swiss competition authorities said Monday they were investigating UBS, HSBC, Deutsche Bank and four other major banks for suspected price fixing in the trade of precious metals like gold and silver. The Swiss Competition Commission (COMCO) said it was loo
First Gulf Bank (FGB), the third largest lender by assets in the United Arab Emirates, has raised $1 billion in loans in order to boost lending as liquidity in the economy tightens, banking sources said. Banks in the Gulf are turning to the loan market to
European Union antitrust authorities are investigating possible anti-competitive practices in precious metals trading as they joined other regulators in a crackdown on possible rigging of the markets. The European Commission's action follows a record 1.7
