A trader who worked for UBS and Citigroup has been jailed for 14 years by a London court after becoming the first person to be found guilty by a jury of rigging the benchmark Libor inter-bank lending rate.
The full extent of the damage caused by the Greek crisis was laid bare when the first day of stock market trading after five weeks of economic paralysis saw shares lose a sixth of their value.
SAO PAULO Banco Bradesco SA agreed to buy HSBC Holdings Plc's Brazilian unit for a surprisingly high 17.6 billion reais ($5.2 billion), narrowing the gap with larger rivals while boosting its base of affluent customers in Latin America's largest economy.
Greek markets suffered a bloodbath on Monday, falling by a record 23pc within minutes of the opening bell as investors rushed to sell off stocks during the first full day of trading in more than a month.
Brent crude crashed briefly through the $50 per barrel barrier, marking a new six-month low for the benchmark amid continuing worries that the world is producing too much oil.