Probe of Libor Scandal Set by British Parliament
An investigation into the rigging of Libor has been set by the British Parliament as the City of London worries that its reputation as the world’s top financial center has been damaged beyond repair.
Bank of England Implicated by Barclays in Libor Fixing
Documents released by the bank indicate that he may have been given tacit approval by Paul Tucker, deputy BoE governor, to adjust Libor rates to be more in line with other banks after Whitehall expressed concern lest Barclays appear to be in trouble.
British Budget Cuts Top Tax Rate, Deductions for Pensioners
Chancellor of the Exchequer George Osborne on Thursday prompted a chorus of jeers over the budget he unveiled, which cut the top tax rate on Britain’s wealthiest even as it eliminated tax deductions for pensioners.