Friday, December 19, 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:
German consumer confidence on the rise (27 mins ago)
BYD recovers partially after plunge (55 mins ago)
Hang Seng finishes higher (56 mins ago)
BOC Aviation adds two more Boeing jets to earlier order spree (2 hrs 39 mins ago)
Nikkei finishes higher (12-19 14:24)
Hang Seng jumps at noon (12-19 13:02)
BoJ strikes more upbeat view on economy, holds off fresh measures (12-19 12:16)
China total GDP revised up 3.4% in 2013: govt (12-19 11:26)
Nikkei up by break (12-19 11:17)
UK retail sales surge thanks to 'Black Friday' (12-18 18:31)

More breaking news >>

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