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Gang leaders convicted in massive Italy 'Mafia Capital' trial

20 July 2017

ROME (Reuters) - Massimo Carminati and Salvatore Buzzi, leaders of a Mafia-style mob ring that plundered the city coffers of Rome, were convicted on Thursday at the end of one the biggest organised crime trials in the Italian capital.

US appeals court voids Libor convictions of ex-Rabobank traders

19 July 2017

NEW YORK: A federal appeals court on Wednesday overturned the convictions of two former London traders in what had been the US Department of Justice’s first criminal trial stemming from the worldwide probe into the manipulation of the interest rate benchmark known as Libor.

Oil prices ease on signs of steady output from some producers

18 July 2017

NEW YORK: Oil prices were about 1 percent lower on Monday as investors continued to await strong indications that an OPEC-led effort to drain a glut was proving effective but output increases in some top producers eased, keeping losses in check

Bank of England wants less Libor-centric financial world

17 July 2017

LONDON: Interest rates used to price financial contracts worth trillions of dollars globally should in future be based on actual market transactions and not banks’ judgments, Bank of England (BoE) governor Mark Carney said in minutes of a meeting released on Monday.

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