Most Active Stories
- Montgomery may ban smoking, Sirius-XM settlement
- Governor Bentley Challenges Legislators to Lead on Budget Crisis
- Alabama GOP Chief: "No Third term," Airbus is hiring
- High School Graduation rate improves, Montgomery "no smoking" ban
- Tough State Budget Choices, and an Eating detector for the holidays?
Wed December 19, 2012
Originally published on Thu December 20, 2012 4:44 am
STEVE INSKEEP, HOST:
NPR's business news begins with a global bank settlement.
It's the big Swiss bank, UBS. It announced this morning that it will pay a total of $1.5 billion in fines for its role in rigging the interbank lending rate known as LIBOR. The settlement will be paid to Swiss, British and American regulators.
Now, a branch of UBS in Japan is also pleading guilty to a charge of wire fraud as part of this investigation. It's the first time a big name bank has agreed to criminal charges in years. Transcript provided by NPR, Copyright National Public Radio.