British lawmakers criticize ex-Barclays CEOLONDON — Former Barclays CEO Bob Diamond offered a “highly selective” account to a Parliamentary hearing on the banking rate-fixing scandal, British lawmakers said Saturday in a highly critical report.
Banks get Libor summonsJPMorgan Chase and Barclays are among seven banks subpoenaed in New York and Connecticut’s investigation into alleged manipulation of Libor, according to a person familiar with the matter and company filings.
US firms paid more to CEOs than taxesTwenty-six big US companies paid their CEOs more last year than they paid the federal government in tax, according to a study released on Thursday by a liberal-leaning think tank.
Qtel to acquire remaining Wataniya stake for $2.2bQatar Telecom (Qtel) is offering $2.2 billion to buy the remaining 47.5 per cent stake it does not already own in Kuwaiti telecom company Wataniya.
Arab Bank chairman quits over CEO disputeAMMAN - The chairman of Jordan-based Arab Bank, Abdel Hamid Shoman, resigned on Thursday after a dispute with key shareholders and the bank’s chief executive, he said in an internal memo seen by Reuters.
Qatar on investment spreeDOHA - With a plan to deposit $2 billion in Egypt’s central bank, Qatar is becoming one of the top financial backers of the struggling country as it signals an intention to play a big role in rebuilding North African economies after last year’s uprisings.
Egypt raises request for IMF aidEgypt will ask the International Monetary Fund for 50 per cent more than it initially requested as it will probably miss its budget deficit target this year, Finance Minister Momtaz El Saieed said.
Gold climbs, erases weekly lossLONDON - Gold prices firmed on Friday, tracking a rise in both the euro and European stocks after comments from German Chancellor Angela Merkel late on Thursday fuelled expectations for moves to resolve Europe’s lingering debt crisis.
Copper gains on soft dollar, Merkel commentsLONDON - Copper rose on Friday on a softer dollar and after German Chancellor Angela Merkel backed European Central Bank efforts to fight the euro zone crisis, emboldening investors to put their money into riskier assets.
World stocks up on US data, MerkelAMSTERDAM — Mildly positive news about the US economy and reassuring words from German Chancellor Angela Merkel about the euro were enough to push global financial markets higher by midday trading in Europe Friday.