Sunday, November 23, 2014   

3 banks accused of market fixing
(05-20 18:18)

The European Commission's top competition regulator has accused JPMorgan, HSBC and Credit Agricole of colluding to manipulate the price of financial products -- "derivatives'' -- linked to interest rates.
Commissioner Joaquin Almunia said Tuesday the banks will now have a chance to respond to his preliminary findings. If the Commission ultimately concludes they have broken the law, it can impose a maximum fine of up to 10 percent of their annual turnover.
In December 2013, the Commission levied fines totaling 1.04 billion euros on Barclays, Deutsche Bank, RBS and Societe Generale as part of the same case, which covers 2005-2008. They were granted a reduction in their fine for cooperating in a settlement. --AP
   
Other Business breaking news:
PBOC to inject liquidity if necessary (11-21 19:03)
China cuts interest rates (11-21 18:41)
Indexes track Connect (11-21 17:35)
ECB chief says will ramp up asset purchases 'without delay' (11-21 17:09)
European stocks rise at open (11-21 16:23)
Hang Seng ends higher (11-21 16:22)
Nikkei closes higher (11-21 15:03)
Nikkei down by break (11-21 11:03)
Taiwan export orders hit record high on iPhone 6 demand (11-20 19:08)
Japan exports up 9.6 percent in October (11-20 18:41)

More breaking news >>

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