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Barclays boss: I will not resign
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Bob Diamond
UK bank Barclays CEO, Bob Diamond, insists he will not resign after his staff rigged the key lending rates between banks.
In a letter to MPs, Diamond condemns the inappropriate behaviour of his employees.
Meanwhile, MPs – including Tories Steve Baker and Nick De Bois – have suggested Diamond should resign, reports BBC.
Similarly, also former Liberal Democrat leader Paddy Ashdown says Diamond’s position is now “untenable”.
“The whole management team [at Barclays] have got some serious questions to answer,” says Prime Minister David Cameron.
As reported, Barclays has been fined £290 million for manipulating key bank interest rates - London Interbank Offered Rate (Libor) and the Euro Interbank Offered Rate (Euribor).
These are two of the key interest rates in the global financial market, as they have direct influence on the value of trillions of dollars of financial deals between banks and other institutions.
The Financial Services Authority is also looking into other banks.
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Saeima expresses concerns over the fate of children adopted by foreigners
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G8 leaders agree to tackle tax evasion
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G8 leaders agree to stop paying terrorists ransom money for hostages
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Industry player: revoking Balva's licenses will increase competition
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Latvian Finance Minister appoints new representative to the Board of Riga Free port
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Household income grows the slowest in Vidzeme and Latgale
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CPCB to initiate criminal proceedings against Road administration's officials
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Russia and U.S. fail to agree over Syria
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OlainFarm's product sales achieve 7% growth
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One of the first Art Nouveau buildings in Riga is falling apart
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EU-U.S. historic trade talks begin
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Scandinavians decide to sell agricultural land in Latvia
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Bomb explodes in Kabul hours before Afghanistan security hand-over
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Two potential investors appear to have an interest for airBaltic
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One year passes since Ecuador embassy offered Julian Assange asylum
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Latvian parliament's budget for 2014 is estimated around LVL 15 million
During the June 17 meeting of the Saeima Praesidium, the parliament's budget for 2014-2016 was confirmed. The parliament does not plan to increase expenses for current activities, rather divide the funding for two main budget goals – LVL 255 thousand for Latvia's presidency over the Council of the European Union and LVL 2.76 million for the reconstruction of the main building on Jekaba Street 6/8.
FCMC revokes all licenses held by Balva
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Riga Free port official submits resignation because of a pleasure trip
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Swedbank: low mortgage loan interest rates will not last
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Latvian companies to partake in the Paris Air Show for the first time
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Liepājas metalurgs attracts the interest of at least three potential investors
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U.S. secret service listens to phone calls and might read e-mails
The U.S. National Security Agency has unveiled in a classified briefing that its analysts can listen to domestic phone calls without court authorisation.
Czech Prime Minister steps down
Because of the recent corruption scandal in the Czech government, the country's Prime Minister Petr Nečas announced his resignation on June 16.
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Ilmars @ 2013-06-16 14:07:28
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