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World - Lloyds not off hook yet after $370 million Libor fines


By Matt Scuffham and Huw Jones LONDON (Reuters) - Lloyds Banking Group could face further punishment after agreeing to pay fines totaling $370 million for its part in a global interest rate rigging scandal and for attempting to manipulate fees for a government lending scheme to help banks. This special liquidity scheme (SLS), launched in 2008, was an attempt to free up banks` balance sheets and boost confidence in the financial system. Bank of England Governor Mark Carney said in a July 15 letter to Lloyds` chairman Norman Blackwell the attempted manipulation could lead to criminal action against those involved. He said Britain`s financial regulator would consider whether further action should be taken against Lloyds or the individuals involved.


Monday, July 28, 2014  17:53

Yahoo

World - U.N. warns of sanctions for oil trading with Syria, Iraq militants


By Michelle Nichols UNITED NATIONS (Reuters) - The U.N. Security Council expressed grave concern on Monday over reports that radical militants have seized oilfields and pipelines in Syria and Iraq and warned that anyone caught trading in oil from the `terrorist groups` could face sanctions. The 15-member council said in a statement that any trade in oil with Islamic State - previously known as the Islamic State in Iraq and the Levant - or al Qaeda`s Nusra Front, would violate United Nations sanctions as both groups have been blacklisted.


Monday, July 28, 2014  17:40

Yahoo

World - UN takes aim at Islamist oil grab in Syria, Iraq


The UN Security Council on Monday backed a Russian initiative to bar trade in oil with Islamists in Iraq and Syria. The 15-nation Council warned in a joint statement that buying oil from groups such as the Islamic State and Jabhat Al-Nusra fighting in Iraq and Syria could lead to sanctions. Islamic groups such as ISIL, which rebranded itself as the Islamic State and Al-Nusra have seized oilfields and pipelines to bankroll their offensives.


Monday, July 28, 2014  17:00

Yahoo

Business - U.S. services sector activity accelerates in July: Markit


Financial data firm Markit said its preliminary services Purchasing Managers Index was 61.0 in July, unchanged from June and above expectations for a reading of 59.8. A reading above 50 signals expansion in economic activity, and June`s reading was the highest final reading since the survey began in October 2009. The services sector continued to add employees, though at a slower pace. `Nonetheless, service sector companies continue to perform strongly against post-recession trends, and overall the latest manufacturing and services PMI surveys suggest that the US economy has enjoyed a strong start to the second half of 2014.` Markit`s final composite PMI, a weighted average of its manufacturing and services indexes, dipped to 60.9 from June`s reading of 61, a level that also represented a record high for a final reading.


Monday, July 28, 2014  15:13

Yahoo

World - Lloyds bank fined £218mn over Libor rigging


Britain`s Lloyds Banking Group is to pay £218 million ($370 million, 276 million euros) in fines to British and US regulators for attempting to rig inter-bank lending rates, the bank said Monday. `LBG announces that it has reached settlements totalling £218 million to resolve with UK and US federal authorities legacy issues regarding the manipulation several years ago of group companies` submissions to the British Bankers` Association (BBA) London Interbank Offered Rate (LIBOR) and Sterling Repo Rate,` it said in a brief statement. The Libor scandal erupted two years ago when British bank Barclays was fined £290 million by British and US regulators for attempted manipulation of Libor and Euribor interbank rates between 2005 and 2009.


Monday, July 28, 2014  15:12

BBC

Africa - VIDEO: Libyan fuel tank fire - in 15 secs


A second fuel tank in the Libyan capital Tripoli has caught fire. Here`s the story in 15 seconds.


Monday, July 28, 2014  18:47

Yahoo

Business - Lloyds Bank fined $370 million for rigging Libor interest rates


By Matt Scuffham and Huw Jones LONDON/WASHINGTON (Reuters) - Britain`s Lloyds Banking Group has agreed to pay fines totaling $370 million to U.S. and British authorities investigating its part in a global interest rate rigging scandal and manipulating fees for a UK government lending scheme. The penalties for Lloyds comprise a 105 million pound ($178 million) fine by Britain`s Financial Conduct Authority (FCA), $105 million by the U.S. Commodity Futures Trading Commission and a $86 million fine by the U.S. Department of Justice. The FCA said there had been routine manipulation of sterling Libor submissions to benefit money market trading positions between September 2006 and June 2009. To avoid negative media comment and market perceptions of its financial strength, Bank of Scotland, which Lloyds later acquired, manipulated Libor submissions as a result of at least two management directives in September and October 2008, the FCA said.


Monday, July 28, 2014  15:26

Yahoo

World - Death toll from Boko Haram Cameroon raids rises to 15


Yaoundé (AFP) - At least 15 people were killed in two attacks blamed on Boko Haram in northern Cameroon, with the wife of the country`s deputy prime minister among a dozen people reportedly kidnapped, a security source said Monday. The death toll from the two reportedly simultaneous raids on Sunday by Nigerian Islamic extremists on the palace of the Sultan Kolofata, and the nearby home of one of the country`s most senior politicians, deputy premier Amadou Ali, rose on Monday from six to at least 15. The sultan, Seiny Boukar Lamine, his wife and their five children are among the hostages, a government spokesman confirmed. Two gendarmes and a member of the Cameroonian army`s elite Rapid Intervention Battalion (BIR) were among the dead, a gendarme involved in the follow-up operation against the terrorists told AFP.


Monday, July 28, 2014  12:21

Yahoo

Sports - Golf-PGA Tour FedExCup points table


July 28 (Reuters) - PGA Tour 2014 FedExCup points table onMonday (U.S. unless stated): 1. Jimmy Walker 2,364 points 2. Bubba Watson 2,135 3. Matt Kuchar 1,855 4. Dustin Johnson 1,769 5. Jim Furyk 1,680 6. Jordan Spieth 1,670 7. Chris Kirk 1,542 8. Brendon Todd 1,516 9. Martin Kaymer (Germany) 1,510 10. Zach Johnson 1,504 11. Patrick Reed 1,498 12. Rory McIlroy (N. Ireland) 1,432 13. Harris English 1,432 14. Webb Simpson 1,398 15. Kevin Na 1,366 16. Sergio Garcia (Spain) 1,351 17. Adam Scott (Australia) 1,345 18. Ryan Moore 1,320 19. Brian Harman 1,314 20. ...


Monday, July 28, 2014  13:53

BBC

Middle East - Israel rejects Gaza UN shelter blame


The Israeli army insists that a mortar round it fired into a UN shelter in Gaza was not responsible for the deaths of at least 15 people.


Sunday, July 27, 2014  23:17

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