Thursday, June 28, 2012

Barclays boss under pressure to quit after interest rate cheating...

The chief executive of Barclays, Bob Diamond, is under pressure to resign after the bank was fined £290m ($450m) for trying to manipulate interest rates at which banks lend to each other.

The Liberal Democrat peer, Lord Oakeshott, said that if Mr Diamond had any shame, he would resign.

Former City minister Lord Myners told the BBC that the people at the top should take responsibility.

Barclays has said its actions "fell well short of standards".

In response, chief executive Bob Diamond and three other top executives at the bank are to give up their bonuses this year. Full story...

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