COMPANIES

Libor Fixing Scandal: Florida subpoenas six banks

Libor Fixing Scandal: Florida subpoenas six banks
The race for regulators to crack down on banks that are being investigated for the possible manipulation of the London Interbank Offered Rate – or Libor- has intensified, after the Florida State regulator issued subpoenas to six banks.
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BP profits fall sharply after it cuts asset values

BP profits fall sharply after it cuts asset values

Oil giant BP has reported a sharp fall in profits today in the second quarter of the year after it had to cut the value of a number of its key assets. The oil giant posted nearly $5billion in accounting charges.