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Barclays managers questioned in fresh Libor probe

Barclays-HSBC-Canary-Wharf-London-700.jpgThree Barclays senior managers, including the head of its Japanese unit, are being questioned by the Serious Fraud Office as part of a new criminal investigation into Libor rigging.

According to the FT, Barclays Securities Japan manager Mark Dearlove, former group balance sheet head Miles Storey, who now works for Clydesdale Bank, and former group treasurer Jon Stone are all part of the SFO investigation.

The three men have not been arrested or charged.

The FT says this Libor investigation is looking into whether Barclays lied about its borrowing costs during the Libor calculation process in order to appear in a better position to investors.

Other senior bank employees have reportedly also been questioned as part of the investigation.

Both the SFO and Barclays declined to comment to the FT.



Leeds adds to remortgage range

Leeds Building Society is adding new products to its fixed rate remortgage range on 6 January. The new products include a two-year fixed rate loans at 1.55 per cent up to 65 per cent LTV and at 1.60 per cent to 75 per cent. The range will also include a five-year fixed rate loan at […]


Virgin Money launches ‘Red Hot’ fixed rate range

Virgin Money has today launched new residential and buy-to-let fixed rate loans, branded as ‘Red Hot’ mortgages. The range includes a two-year residential fixed rate up to 90 per cent LTV at 2.84 per cent for first time buyers. The loan has no product fee and £1,000 cashback. Virgin has also introduced a five-year residential […]


Govt opens £7bn affordable housing programme

Communities Secretary Sajid Javid has today opened the £7 billion expanded affordable housing programme previously announced by the Chancellor in November’s Autumn Statement. Housing providers can now apply for a share of the fund, which was allocated an additional £1.4 billion at the Autumn Statement to deliver 40,000 new affordable housing starts across the country. […]

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Considerations for overseas workers in Germany

With Germany’s strong economic growth leading the eurozone’s recovery, many UK businesses are keen to be part of the success story: recent data shows that there are currently more than 280,000* employees working for a UK-controlled company in the country.


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