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Libor riggers were sentenced. Four former Barclays bankers were sentenced to between 33 months and six-and-a-half years in jail by a London judge on Thursday for conspiring to fraudulently rig global benchmark interest rates.
An heiress is in trouble. The daughter of L’Oreal heiress Liliane Bettencourt has been placed under investigation for allegedly giving money to an accountant whose testimony in another case helped her protect her mother’s fortune.
The UK is seeking closer ties with China. Finance minister George Osborne met senior Chinese officials in London on Thursday to discuss trade following Britain’s vote to leave the European Union, agreeing to work to foster stronger ties between the two countries, a source close to Osborne said.
Japan is investing in Bitcoin. Bitcoin exchange Coinbase said on Thursday it has received a $10.5 million investment from Bank of Tokyo Mitsubishi UFJ, the bank’s Mitsubishi UFJ Capital unit and Sozo Ventures.
Microsoft lost its COO. Citadel Securities announced Thursday morning that it has hired Kevin Turner away from Microsoft to be CEO. Turner was COO running Microsoft’s enormous sales operations.
Banks want to keep London a major financial centre. Major investment banks including Goldman Sachs and JPMorgan said they would work to help London remain a top center for international finance, in a joint statement on Thursday with British finance minister George Osborne.
Italy banned short-selling its banks’ shares. Consob, Italy’s Securities and Exchange Commission, has banned the short selling of shares in stricken Italian bank Monte dei Paschi di Siena for at least three months from Thursday morning, in the latest sign that Italy’s banking system is teetering on the brink of a major disaster.
Unemployment is still falling fast in America. US private employers hired 172,000 workers in June, higher than economists’ expectations, a report by a payrolls processor showed on Thursday.
Citigroup is merging its consumer banking arms. The lender is combining its consumer banking unit in Europe, Middle East and Africa with Asia, the largest region for profit for the business outside North America, according to a memo seen by Reuters.
A Swedish fintech company is growing rapidly. Mobile payment solutions business iZettle’s growth strategy is continuing apace, it said on Thursday, citing an 81% leap in revenue last year.
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