BUSINESS

Why Exactly Are Heads Rolling At Barclays? Libor Scandal Explained

Following the revelation last week that British banking giant Barclays was engaging in massive fraud meant to distort the Libor, the interest rate underpinning hundreds of trillions of dollars in credit transactions, politicians and regulators the world over are taking a sober look at the system. What they find may prove to be shocking.

Phoenix Is Rising, Again

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Sun-drenched Arizona became a poster child for the overdevelopment excesses of the boom, but it's recently become a leader in the U.S.'s long-awaited housing recovery.
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Barclays CEO Bob Diamond Resigns

Barclays chief executive officer Bob Diamond Tuesday quit his post over the London Inter Bank Offered Rate (LIBOR) fixing scandal, in which the bank was fined £290 million ($450m) by the U.S. and UK regulators last week.
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China's June Official Services PMI Up To 3-Month High

China's services sector expanded at its fastest pace in three months in June, an official survey showed on Tuesday, but left intact market expectations that Beijing will deliver more policy measures to support growth in the near future.
Ed Damiano (right) delivers insulin to his son David, at the family's home in Acton, Mass. Damiano is working on a bionic pancreas that will automatically control blood glucose in people with type 1 diabetes.

Global Pharma Giants Feed On Smaller Biotech Makers

Bristol-Myers Squibbs' takeover of Amylin follows the trend of pharma companies that are acquiring biotech companies to benefit from growing medical needs, offset patent losses and boost their internal pipeline productivity.
Why Facebook Needs A Want Button

Why Facebook Needs A Want Button

Facebook already knows what you Like. Soon, it may ask you what you Want. Web developer Tom Waddington discovered on June 28 that Facebook had included code for a disabled Want button within the Javascript of its list of social plug-ins.
The euro zone has entered a technical recession in the first quarter of 2012, according to Eurocoin

This Time, Spain Won't Be Back In 10 Minutes

Europe's fourth-largest economy is putting millions of people out of work. This time, it won't be back in 10 minutes like the post-it notes of Spanish employees when they leave their desks for a half-hour coffee break every so often.

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