Tom Hayes recruited accomplices to manipulate Libor, court told May 27, 2015 Former UBS and Citi trader Tom Hayes spent years recruiting other bankers and brokers to help him manipulate Libor submissions, prosecutors claimed yesterday. Hayes, the first trader to face accusations in front of a jury, denies eight charges of conspiracy to defraud. Southwark Crown Court yesterday heard that he tried to recruit his step-brother, who works at [...]
Cameron has won over Britain’s entrepreneurs – now he must deliver May 27, 2015 THE Conservative Party’s victory at the General Election was good for entrepreneurs. Prior to it, 71 per cent of entrepreneurs in our Leap 100 poll, made up of the leaders of some of Britain’s most promising companies, were backing the Tories, versus just 6.6 per cent who wanted an Ed Miliband-led Labour Party. Elsewhere in [...]
Queen’s Speech 2015: Here’s everything that was said about the EU referendum, employment, tax, the Human Rights Act and Scottish devolution May 27, 2015 The EU referendum is on; taxes will be locked in at current levels and strike laws are being reformed. The Queen's Speech has come to an end, and we have been presented with the legislation the government intends to pursue over the coming parliamentary session. While global cooperation, reducing the deficit and sticking to the [...]
Libor case: Senior Bank of England official “The Hammer” received emails from Tom Hayes’ brokers May 27, 2015 A senior Bank of England official nicknamed “the Hammer” was sent emails that were part of an alleged campaign to rig the benchmark interest rates, a London court heard today. Martin Mallett, who at the time was chief currencies dealear at the BoE, was among dozens of people who received an email in 2007 [...]
Prudential Ride London Freecycle returns with a new route, more entertainment and a record 70,000 cyclists taking part May 27, 2015 London will play host to a record number of cyclists in August as the Prudential Ride London Freecycle event expands to 70,000 participants. The race, which will take place on August 1 as part of the London mayor's annual festival of cycling, will take a different route running along the Strand and Lincoln's Inn [...]
Queen’s Speech 2015: Business community and others react to announcements on immigration, housing, employment, tax, Scotland and English devolution May 27, 2015 The Queen's Speech – the first full-Tory state opening of Parliament since 1996 – has come and gone. But what is the business community making of it all? Here are the best reactions so far. On the tax lock: Chas Roy-Chowdhury, head of tax at the Association of Chartered Certified Accountants says: “This is a [...]
Elon Musk’s SpaceX can now launch military and spy satellites for the US May 27, 2015 Private company SpaceX has received certified approval from the US to send military and spy satellites into space. The decision comes after two years of reviews by the US Air Force, and founder Elon Musk described it as an “important step” in bringing competition to National Security Space launch. “We thank the Air Force [...]
Trader Tom Hayes accused of greed and dishonesty in Libor-rigging scandal May 26, 2015 The first trial of a trader accused of fraudulently attempting to manipulate key interest rate benchmark Libor began in Southwark yesterday. Prosecutors said Tom Hayes, a 35-year-old former UBS and Citigroup trader, was “greedy” and used his position over several years to engage in the “dishonest rigging of Libor”. Hayes, who pleaded not [...]
Madame Tussauds makeover for David Cameron as high office takes its toll on PM May 26, 2015 Prime Minister David Cameron has had work done. Five years in Coalition has taken its toll on the youthful fresh-face of the 48-year-old jogger. The prospect of a tussle over the EU, NHS worries and more belt-tightening, do nothing for frown lines, or hair colour. So to keep reflections accurate, Madame Tussauds has added [...]
Libor-rigging scandal: Tom Hayes lost his Citi job over his methods, prosecutors tell court May 26, 2015 Former trader Tom Hayes was fired in 2010, four years after he started attempting to manipulate Libor, according to the prosecution’s case in court yesterday. Lawyers presenting the Serious Fraud Office’s (SFO) case in Southwark Crown Court said the former UBS and Citi banker received complaints just months after he started to work at [...]