To date, U.S. and British authorities have charged seven men and fined four financial firms about $2.7 billion in the investigation into the manipulation of the London interbank offered rate (Libor), used as a benchmark for more than $300 trillion of products from derivatives to home loans. David Green, who has led the SFO since April 2012, said the inquiry into Libor, a central cog in the global financial system, remains the largest and most complex case on his books – and he expected to be judged by its results. “I anticipate there will be further (Libor) charges this autumn,” he told Reuters in an interview on Thursday. “Thereafter, there will be further significant developments … We’re not finished by a long chalk.” Green said relations with the U.S. Department of Justice (DoJ), which has had a near three-year headstart in the Libor investigation, were “genuinely helpful and constructive”. Although the DoJ has been first to charge some British suspects in the scandal, Green said everyone understood that British suspects should be tried in Britain rather than extradited to the United States. “So far as I’m concerned, alleged crimes committed by British suspects or banks should be tried here and that is the goal to which we would work,” he said. Green declined to divulge whether further Libor charges were likely to be announced before a London court hearing scheduled for the week of October 21, at which a list of alleged co-conspirators of former UBS (UBSN.VX) and Citigroup (C.N) trader Tom Hayes and two former brokers will be read out in court. Hayes, who has also been charged by the DoJ, and former RP Martin brokers Terry Farr and James Gilmour are the first individuals to be brought to court over a scandal that has become a symbol for the financial industry’s self-serving excesses. U.S.
UK retailers remove ‘staggeringly offensive’ mental health costumes from sale
Braintree’s global payment platform processes more than $12 billion annually (with $4 billion on mobile) for thousands of online and mobile commerce innovators including Airbnb, Fab, LivingSocial, OpenTable, TaskRabbit and Uber. Merchants in more than 40 countries across North America, Europe and Australia can accept payments in more than 130 currencies using Braintree. Today, Braintree powers single-click purchasing for more than 40 million consumers and its top-rated mobile app, Venmo , gives people an easy way to pay using their mobile devices. To learn more, visit Braintree at www.braintreepayments.com and on Twitter @braintree. @yahoofinance on Twitter, become a fan on Facebook Related Content Chart Your most recently viewed tickers will automatically show up here if you type a ticker in the “Enter symbol/company” at the bottom of this module. You need to enable your browser cookies to view your most recent quotes. Search for share prices Terms Quotes are real-time for NASDAQ, NYSE, and NYSEAmex when available. See also delay times for other exchanges . Quotes and other information supplied by independent providers identified on the Yahoo! Finance partner page . Quotes are updated automatically, but will be turned off after 25 minutes of inactivity. Quotes are delayed at least 15 minutes. All information provided “as is” for informational purposes only, not intended for trading purposes or advice. Neither Yahoo! nor any of independent providers is liable for any informational errors, incompleteness, or delays, or for any actions taken in reliance on information contained herein.
UK carbon budget should not change, Ed Davey told
Walmart subsidiary Asda showed a man in a blood-stained white coat brandishing a meat cleaver to advertise its “Mental Patient Fancy Dress Costume.” Tesco’s advertisement for its “Psycho Ward Costume” showed a man in an orange boiler suit branded “PSYCHO WARD” brandishing a hypodermic needle and wearing a mask similar to that of Hannibal Lecter in the film, “The Silence of the Lambs.” An Asda spokeswoman offered the company’s “sincere apologies for the offense” the costumes had caused. “This was an unacceptable error and the product was withdrawn immediately,” she said in a statement. “We take our responsibilities very seriously which is why we will make a sizable donation to Mind.” Tesco also issued an apology, saying in a statement: “We’re really sorry for any offense this has caused and we are removing this product from sale.” Mental health charity Mind welcomed the withdrawal of the costumes, saying the retailers had shown themselves to be “extremely misguided” by offering them for sale. Slept in. Have @asda withdrawn their ‘mental patient fancy dress’ costume or are we going to organise a protest at HQ? #timetochange Alastair Campbell (@campbellclaret) September 26, 2013 Alastair Campbell “It is staggeringly offensive to the one in four of us affected by mental health problems and our families and friends, and troubling that some businesses are still so out of touch with the public mood,” spokeswoman Sue Baker said in a statement . However, Baker said the outcry the costumes provoked on the social media site Twitter was encouraging. “We hope this will urge Asda, Tesco and other retailers and manufacturers to review their processes and consider taste and decency on mental health grounds, to avoid fueling stigma and discrimination that are so damaging for large numbers of the population,” she said. Mind and the group Rethink Mental Illness run the Time to Change campaign to challenge mental health stigma and discrimination. One of the campaign’s supporters is Alastair Campbell, who was former UK Prime Minister Tony Blair’s media chief and who has publicly spoken of his battle with depression . Campbell was among those who tweeted his displeasure at the “brutally stigmatizing outfits.” “@asda and @tesco should sign up for one of the @mindcharity @Rethink_ @TimetoChange mental health training courses,” he tweeted . Campbell alleged that Amazon still carried mental health patient costumes and called for people to tweet the company, asking it to withdraw them. But in response to an inquiry from CNN, an Amazon spokesperson said: “The item you refer to is not available on Amazon.co.uk.” Soccer player and broadcaster Stan Collymore who has also spoken out on depression, also took to Twitter to criticize the stereotype he said Asda and Tesco’s costumes had promoted.
Braintree Takes Venmo Touch International with UK Launch
The consensus that prevailed among the three main parties on climate change before the last election has been repeatedly broken down by the right wing of the Conservatives , who see taking a sceptical stand on green issues as a key of appealing to the party’s core voters. Osborne has made no secret of his wish to loosen the UK’s carbon budget. After David Cameron in 2011 personally approved a tough fourth carbon budget lasting to 2027, the chancellor secured a review of the target that will be carried out next year. But the preliminary conclusions of the committee, published on Thursday, only take account of the UK’s carbon budget with respect to the government’s ambitions for Europe -wide emissions targets, and the current circumstances with regard to greenhouse gas output across the EU. Ministers will have to wait until December for the committee’s full report, which will examine in detail the full domestic and international context for emissions reduction, and make a recommendation on whether the budget targets should stay at current levels. “Changing the [carbon] budget would undermine already fragile [energy] investor confidence,” David Kennedy, chief executive of the committee, told the Guardian. Ministers could choose to ignore the advice of the committee, set up under the Climate Change Act, but to do so would provoke a major political row. Many Tories would prefer to abolish the committee and repeal the act, but that would require a major revolt. Kennedy was in line to be appointed chief civil servant in charge of Decc, but this was vetoed personally by Cameron , for fear of howls of outrage from his backbenchers. Kennedy wrote to the Lib Dem energy secretary, Ed Davey , on Thursday to relay the committee’s latest findings. He wrote: “The assumptions regarding EU circumstances upon which the fourth carbon budget decision was made have not changed, and therefore there is no legal or economic justification to change the budget in this respect at this time.