Swiss banking giant UBS AG has agreed to pay $1.5 billion in fines to regulators in the U.S., Britain and Switzerland for its part in a scheme to manipulate the London interbank offered rate (LIBOR), which is used to set rates on contracts around the world.
Originally published on Wed December 19, 2012 5:59 pm
An independent panel has sharply criticized the State Department for inadequate security at the U.S. Consulate in Benghazi, Libya, on the day of an attack that killed the U.S. ambassador and three other Americans.
Originally published on Wed December 19, 2012 10:39 am
My family's holiday traditions are simple but consistent: Wake up Christmas morning, drink lots of coffee, eat a good breakfast, and wish each other happy happy. If the weather is nice, we postpone the present opening and pile into the car to head directly to the beach for a walk — a sunny December day along the Northern California coast is something to celebrate. Later, we cook a delicious dinner and sit around the table with a fire glowing in the fireplace nearby.
NPR's business news begins with a global bank settlement.
It's the big Swiss bank, UBS. It announced this morning that it will pay a total of $1.5 billion in fines for its role in rigging the interbank lending rate known as LIBOR. The settlement will be paid to Swiss, British and American regulators.
Greece got a rare bit of good news late yesterday. Standard and Poor's upgraded the country's credit rating six notches to a B minus. I mean, not the worst grade on your report card, but in the financial world this is junk bond status.
Still, Joanna Kakissis reports from Athens that there is a more stable outlook.