Holiday Homes: Limassol’s Trilogy towers puts its hopes in the power of three to lure international investors September 24, 2018 The hot weather may have prompted us to stay in the UK this summer, but the temptation to flee to warmer climes will return once the dark nights and cooler temperatures close in. The city of Limassol, Cyprus, only a four and a half hour flight away, might be the hottest place to get [...]
Euribor developer says it was ‘natural’ for banks to consider their commercial interests in rate submissions June 4, 2018 A senior executive responsible for developing the Euro Interbank Offered Rate (Euribor), which became the centre of a rigging scandal, has said it was "just natural" for traders to take into account their banks' commercial interests when submitting rates into the market. Helmut Konrad, a former president of the ACI in Germany who helped [...]
Digital football platform Dugout raises £8.3m investment led by Marseille owner Frank McCourt April 27, 2018 Digital football platform Dugout has received a new £8.3m investment led by Marseille’s American owner Frank McCourt and brother David. Over 70 of the world’s biggest football clubs — including Real Madrid, Barcelona, Manchester City, Arsenal and Juventus — partner with Dugout where they have dedicated channels to upload content and interact with fans directly [...]
City of London office take-up rises after landmark Square Mile deals such as Chinese embassy move | City A.M. August 1, 2018 Take-up of offices in the Square Mile jumped 10 per cent over the last year, as demand for City of London commercial space shows no sign of slowing down. In the 12 months to June roughly 3.5m square feet was taken up in London’s financial district, rising 31 per cent higher than the 10-year average [...]
Former Barclays Euribor trader describes losing “a lot of money” in first trade May 29, 2018 A former Barclays trader who stands accused of rigging the European Interbank Offered Rate (Euribor) for commercial gain told a London court she feared losing her job when she lost "a lot of money" on her first trade. Danish national Sisse Bohart, 40, told Southwark crown court that despite being given a target of raising [...]
Former Barclays trader accused of Euribor rigging was ‘lowballing’ whistleblower, court hears June 19, 2018 A former Barclays trader on trial for allegedly rigging the Euro Interbank Offered Rate (Euribor) was a whistleblower for the lowballing scandal that rocked the banking industry, a court has heard. "Lowballing" is a term used to describe the scandal that engulfed European and British banking when some banks during the credit crisis moved [...]
Lawyers slam SFO disclosure failings for ‘miscarriage of justice’ in Tom Hayes Libor conviction April 27, 2018 The legal team for convicted Libor trader Tom Hayes has slammed the Serious Fraud Office (SFO) for a series of disclosure failings they say led to a miscarriage of justice and his wrongful conviction. Hayes’s lawyer Karen Todner has written to parliament’s Justice Committee urging it to probe the SFO as part of an inquiry [...]
Facebook gets hit with maximum fine by UK information watchdog over Cambridge Analytica data scandal July 11, 2018 Social media giant Facebook was dealt a blow this morning when a prominent UK watchdog said it planned to impose a maximum fine on the company for two breaches of the Data Protection Act. The Information Commissioner’s Office (ICO) has been investigating the harvesting of Facebook users’ data by political consultancy Cambridge Analytica. It is [...]
Tom Hayes’ lawyer slams lack of disclosure around $100m Citi settlement over Libor rigging in US June 20, 2018 The lawyer for Tom Hayes, a former Citi banker jailed for rigging the London Interbank Offered Rate (Libor), has slammed the Serious Fraud Office (SFO) for failing to disclose the bank's recent settlement with a group of US states over allegations it manipulated the interest rate benchmark. The banking giant reached a $100m (£76m) settlement [...]
The system was flawed, says lawyer acting for trader accused of Euribor rigging June 14, 2018 The barrister defending a former Barclays trader accused of taking part in a conspiracy to rig the Euro Interbank Offered Rate (Euribor) has said the system was "flawed" and that his client never acted dishonestly. Sean Larkin QC is defending Carlo Palombo against accusations of rigging the interest rate relied on by a number of [...]