U.S., UK to fine ICAP, charge staff over Libor scam
Enlarge Melissa Reid (C), a British woman arrested on August 6, 2013 at Lima’s airport carrying cocaine in her luggage is escorted out of the Callao prosecutors building on August 20, 2013, to be taken to the district court with her companion Michaella McCollum, 20, (background).. (CRIS BOURONCLE/AFP/Getty Images) UK nationals Melissa Reid and Michaella McCollum have given up their six-week attempt to prove their innocence, after they were accused of attempting to smuggle 24 pounds of cocaine out of Peru . The two women, who had been working on the Spanish island of Ibiza, were attempting to board a flight from Lima to Spain when they were caught with the drugs on their person on Aug. 6. They both fervently proclaimed their innocence. Now, Scottish-born Reid and Northern Irish McCollum both 20 years old have changed course, admitting their guilt in a private hearing at a Lima men’s jail, apparently after receiving advice fromtheir lawyer, according to The Irish Independent. “I understand that the (judicial) process will be simpler if we both plead guilty,” said McCollum to the Independent on Tuesday. “We are hoping that we will not have to wait too long before we are sentenced and pleading guilty will speed things up,” she added. It’s likely they will both be sentenced to a minimum of six years and eight months in jail at a new hearing, scheduled for Oct. 1, according to the Associated Press , and there is no chance they will be permitted to serve out their sentence in their home countries. The women had initially claimed they were threatened into carrying the drugs, although investigation hasn’t found truth to these claims, said the BBC. More than 140 drug “mules” have been arrested at the Lima airport so far this year. Art Basel gathers works from around the world for its annual shows. Photo Jaume Plensa’s “Tel Aviv Man” at Art Basel, the worlds premier trade fair for leading galleries and collectors focused on modern and contemporary art. – [/] Photo The front of the Art Basel building. This years show attracted 303 of the worlds top galleries from 36 countries, showing the works of more than 2,500 artists.
According to the book retailer, you can only snag the device at that price point until current stocks last, so the promo can expire anytime. If you’re not particularly fond of e-readers, though, feel free to cast your eyes upon the discounted Nook HD and HD+ tablets instead. You can also nab one of those right now, or, you know, throw hints at your personal Santa that you want one for Christmas. Show full PR text Top-Rated NOOK Simple Touch(R) GlowLight(R) Now an Amazing Value at 49 First Under-50 eReader with GlowLight Technology Makes the Perfect Present LONDON, Sep 24, 2013 (BUSINESS WIRE) — NOOK Media LLC, a subsidiary of Barnes & Noble, Inc. BKS +1.59% , the world’s largest bookseller and leading retailer of content, digital media and educational products, is making the critically acclaimed NOOK Simple Touch GlowLight available for just 49, while stocks last, making it the only eReader with integrated lighting in the UK under 50. It will be available at this amazing new price starting today at leading retailers across the UK, ready for Christmas. “No other eReader in the UK anywhere near this price has an integrated light, sits comfortably and lightly in the hand and has a battery that will last up to two months,” said Jim Hilt, Managing Director, Barnes & Noble S.a.r.l. “It’s an unbeatable value for one of our best-loved and most highly acclaimed products, making now the perfect time to choose an eReader for yourself or for your favourite reader as an early Christmas present.” NOOK Simple Touch GlowLight is the ideal reading companion for beach or late-night reading. Barnes & Noble’s innovative lighting technology shines uniformly across the display and adjusts with just a touch, so customers can control the amount of light, whether in a dimly lit or pitch dark room. NOOK Simple Touch GlowLight, as well as the critically acclaimed NOOK(R) HD and NOOK(R) HD+ tablets, are available at major UK retailers including Argos, ASDA, Blackwell’s, Foyles, Currys and PC World, John Lewis, Sainsbury’s and Very, both in stores and online. NOOK now has the most affordable line of eReaders and tablets in the UK. Customers can purchase the 7-inch NOOK HD for just 79 (8GB) and 99 (16GB), while the 9-inch NOOK HD+ tablet is available for just 129 (16GB) and 149 (32GB).
The phone that once so dominated the UK youth market that its messaging service BBM was even blamed for helping to connect young rioters who fought police and wrecked shops in London and other cities in 2011, has now lost its cool. BlackBerry has been usurped by Apple and Android-run phones, and BBM has been eclipsed by the emergence of free messaging apps that work across a range of devices. “I use WhatsApp and Kik with all my friends and family. You can use these on any device even if you can’t afford an iPhone,” said 14-year-old Euan McPhillips, a schoolboy from Gerrards Cross, just north of London. US-based WhatsApp and Canada’s Kik Interactive are two of five major “cross-platform” messaging services that have built up big followings and which are also being tipped as the next big takeover targets for the likes of Facebook and Yahoo. The three others are WeChat in China, developed by internet company Tencent Holdings Ltd and promoted by Argentine footballer Lionel Messi; South Korea’s KakaoTalk, run by privately-held Kakao Corp; and Japan-based Line, a unit of Naver Corp of South Korea. The grandfather of the group, WhatsApp, created by two ex-Yahoo engineers in 2009, has more than 300 million users and processes 31 billion messages a day, a spokeswoman told Reuters, making it bigger than Twitter in terms of active users. That compares with BBM’s 10 billion messages a day. BlackBerry’s image has taken a big hit as a result, underscoring the challenge facing the consortium led by its top shareholder Fairfax, which agreed to take the company private on Monday in a $4.7 billion deal. An annual CoolBrands list, compiled by 3,000 consumers and 38 experts and released this week, showed BlackBerry had plummeted to No. 180 in the list of Britain’s coolest brands from No. 4 three years ago. Apple was top for the second year.
UK teens losing interest in BlackBerry
The U.S. Department of Justice (DoJ) is expected to announce criminal charges against individuals later on Wednesday, alongside a civil ICAP settlement of around $100 million unveiled by the U.S. Commodity Futures Trading Commission (CFTC) and UK Financial Conduct Authority (FCA), according to sources close to the investigations. ICAP, run by London businessman Michael Spencer, will be the first interdealer broker to be sanctioned for allegedly manipulating interest rates such as Libor, the London interbank lending rate, a benchmark that is used to price trillions of dollars worth of products such as derivatives and mortgages worldwide. Brokers such as ICAP, which match buyers and sellers of bonds, currencies and swaps, have faced allegations that their employees actively colluded with traders seeking to fix rates for personal gain – and were handsomely rewarded. Banks and brokers have fired, suspended or placed a number of employees on administrative leave in an effort to prove their houses are now clean – though Deutsche Bank has been forced to reinstate four traders after they won a wrongful dismissal case in Germany two weeks ago. It remains unclear which ICAP-related staff will be charged. The company confirmed only that it had suspended one employee and placed three others on administrative leave months ago. But, almost five years since the world’s financial system buckled and taxpayers footed the bill for big bank bailouts, few banks or bankers have faced sanctions. Three banks – Britain’s Barclays and RBS and Switzerland’s UBS – have paid around $2.6 billion to date to secure civil settlements for rate rigging with UK and U.S. regulators. Britain’s Serious Fraud Office (SFO) has leveled criminal charges at three relatively low-level individuals and U.S.