The Wall Street Journal reported that sharp increases in long-term interest rates, triggered by Fed statements last week, threaten sales of homes, cars and other big-ticket items that have helped drive the recovery.
The Wall Street Journal reported that UK prosecutors are likely to file LIBOR manipulation charges against former UBS and Citigroup trader Tom Hayes for allegedly trying to manipulate benchmark interest rates.
The WSJ reported that the leadership of MF Global Holdings, former executive Jon S. Corzine and two of his top lieutenants, is to blame for the brokerage firm’s demise.
The Wall Street Journal reported Standard & Poor’s wants to pull 17 lawsuits against the ratings service by state attorneys general into a single lawsuit in federal court.
The Wall Street Journal reported that Citigroup agreed to pay $730 million to settle claims that it misled investors in bond and preferred-stock offerings.
The Wall Street Journal reported that the UK Financial Services Authority published a critique of its own handling of the LIBOR scandal, saying it failed to act on a series of warnings that banks were trying to manipulate rates.