Friday, March 6, 2015   

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:
Nikkei finishes higher (24 mins ago)
European stocks mixed at open (24 mins ago)
Hang Seng dips at close (34 mins ago)
Fosun secures 5pc stake in Thomas Cook (03-06 14:02)
Amazon opens for business on Tmall (03-06 13:30)
Hang Seng flat at break (03-06 12:54)
China rail merger approved (03-06 12:40)
US banks improve overall, but Goldman, JPMorgan, and Morgan Stanley among worst in stress tests (03-06 12:00)
Asian equities advance on ECB bond buying plan (03-06 11:25)
Hang Seng positive, Shanghai flat (03-06 10:25)

More breaking news >>

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