Topic: The Royal Bank of Scotland Group plc

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  • Five ways big banks' Libor scandal affects you

    London, this year's host of the Olympics, is also home to a bank scandal that threatens to rock the financial world as much as the Games influence the world of sports. Here's why: Libor (London Interbank Offered Rate) is a global benchmark for interest rates that reaches deep into the international financial system. Allegations that banks rigged those rates means that everyone from mortgage-holders and indebted students to cities and mutual funds may have had their interest rates unnaturally altered. Already tainted by other scandals, banks are under investigation because of charges that they profited illegally from their rate-rigging scheme. The mess further taints big banks and puts more strain on the credibility of the global financial system. Here are five ways the Libor scandal could affect you:

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  • Stocks sink on Federal Reserve minutes

    Stocks closed down Wednesday after indications that the Federal Reserve would end its massive bond-buying program. That program has buoyed stocks recently, and signs that it may end pushed the market down Wednesday.

  • Spending cuts: As Washington frets, Wall Street shrugs (so far)

    Spending cuts set to pummel most government programs starting today so far haven't had much effect on investors. The $85 billion in across-the-board 'sequestration' cuts were expected to cause airport delays, disrupt public services and result in lower pay or layoffs for millions of government workers.

  • Jack Lew expected to lead Treasury (+video)

    Jack Lew, President Obama's likely pick for Treasury secretary, will face tricky economic topics in his new role. If confirmed, Lew will be an important player in the president's plans for deficit reduction. 

  • Five ways big banks' Libor scandal affects you

    London, this year's host of the Olympics, is also home to a bank scandal that threatens to rock the financial world as much as the Games influence the world of sports. Here's why: Libor (London Interbank Offered Rate) is a global benchmark for interest rates that reaches deep into the international financial system. Allegations that banks rigged those rates means that everyone from mortgage-holders and indebted students to cities and mutual funds may have had their interest rates unnaturally altered. Already tainted by other scandals, banks are under investigation because of charges that they profited illegally from their rate-rigging scheme. The mess further taints big banks and puts more strain on the credibility of the global financial system. Here are five ways the Libor scandal could affect you:

  • Stocks nudge upward after tepid jobs report

    Stocks barely moved Friday following yesterday's surge in the stock market. The Dow rose 14 points and the S&P 500 was up 5.

  • Home sales rise as housing market rebounds. Slowly.

    Home sales rose in July, continuing a slow rebound for the housing market. Home sales have been a rare bright spot in the economy this year.

  • The Reformed Broker Down the rabbit hole: The Barclays scandal grows

    The scandal at Barclays continues to grow as emails dating back to 2005 attest to a pattern of greed and corrupt business practices. What is not well known is what the final cost could be to the world's financial institutions, and these costs could be enormous.

  • Barclays scandal prompts furious public backlash in Britain

    Barclays CEO Robert Diamond resigned today. As investigations of lending rate manipulation continue a government official says a 'culture that had flourished in the age of irresponsibility' must end.

  • As fears about Europe's future worsen, the Dow closes down

    Fearing a financial rupture in Europe, investors around the world fled from risk Wednesday. They punished stocks and the euro, and the yield on a benchmark US bond hit its lowest point since World War II. The Dow closed down 161 points to land at 12419.

  • The New Economy Is US a model for austerity-wary Europe?

    Despite its sluggishness, the US economy is growing while Europe's is contracting. A rising number of policymakers blame Europe's austerity moves.