Equities

The Bank of England's deputy governor Paul Tucker has asked to be allowed to address the Treasury Select Committee following the revelation he contacted Bob Diamond to discuss Barclays' LIBOR submissions.

DIAMOND

The government has ordered a parliamentary inquiry into professional and cultural standards in British banking less than a week after Barclays was fined for attempting to fix Libor and its European equivalent, Euribor.

Analysts have suggested the fallout from the LIBOR price-fixing scandal may ultimately lead to significant asset disposals or even a break-up of the bank.

MOVERS & SHAKERS

Barclays Bank chairman Marcus Agius has said "the buck stops with me" as he confirmed he will resign following the inter-bank lending rate fixing scandals.

Aviva has fired dozens of senior managers and may look to offload a fifth of its business units after carrying out a review of the company, according to reports.

Barclays' record FSA penalty for LIBOR manipulation will be superseded by other banks' fines as the investigation deepens, according to Schroders' Richard Buxton.

Four banking giants including HSBC and scandal-hit Barclays are to provide redress to business clients mis-sold specialist insurance on loans, the Financial Services Authority (FSA) has said.

The Investment Management Association (IMA) has called on fund groups to enhance transparency on charges across all investor-facing documents, as well as giving a more prominent position to the ‘ongoing charge' and provide details of transaction costs....