Six major banks fined for rigging foreign exchange market

Strategists at the British bank reiterated their year-end EPS growth forecast for European companies and kept their 2017 target for the STOXX 600 regional benchmark index at 400 points, a potential upside of around 6 percent

NEW YORK: US and British regulators fined six major global banks nearly US$6bil (RM21mil) Thursday for rigging the foreign exchange market and Libor interest rates.

The far-flung settlement included guilty pleas from Barclays Bank, JPMorgan Chase, Citicorp and the Royal Bank of Scotland for conspiring to manipulate the massive currency market, as well as a guilty plea from Switzerland’s UBS, for violating a prior settlement of Libor charges.