U.K. Had Responsibility for Libor, Geithner Says

July 25 (Bloomberg) -- U.S. Treasury Secretary Timothy F. Geithner says it was the responsibility of U.K. regulators to address possible manipulation of the London interbank offered rate after he told them of his concerns when he was president of the Federal Reserve Bank of New York in 2008. He testifies about the Financial Stability Oversight Council's annual report before the House Financial Services Committee in Washington. (This is an excerpt from the hearing. Source: Bloomberg)

Apple Only Spends 3.5% of Revenue on R&D
18:16 - Compared with its resources, Apple has remained relatively quiet. It spent just 3.5 percent ($8.1 billion) of its $233 billion in revenue in fiscal 2015 on research and development, a lower percentage than every other large U.S. technology company, data compiled by Bloomberg show. Bloomberg's Mark Milian reports on "Bloomberg Markets." (Source: Bloomberg)
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