Barclays: ‘Other banks to face Libor revelations’


Senior managers at Barclays have warned staff in an internal memo that the Libor scandal will envelop other banks. The memo circulated on Friday said that revelations about its rivals would "put in perspective" Barclays' culpability. Meanwhile Barclays' former chief operating officer Jerry del Missier will answer MPs' questions on Monday. Mr del Missier stands accused of having mistakenly believed Barclays was told by the Bank of England in 2008 to under-report its borrowing cost. Libor – the London Interbank Offered Rate – is a benchmark interest rate set each day by the British Bankers' Association based on the interest rate that 16 major international banks…

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Euro crisis crimps travel for business – Cherry Hill Courier Post

Euro crisis crimps travel for businessCherry Hill Courier PostAmerican Airlines, part of AMR Corp., saw its Atlantic traffic fall 2.2 percent while Latin America traffic was up 3.1 percent and the Pacific up 14.3 percent. Airlines rely on business travelers who often buy more-expensive, last-minute tickets. They …Small Biz Notes: […]