UBS Said to Face $1.6B Libor Penalty

UBS AG is set to pay as much as $1.6 billion to settle claims of Libor manipulation by the U.S. Justice Department, the Commodity Futures Trading Commission, the U.K. Financial Services Authority and the Swiss Financial Market Supervisory Authority, said a person familiar with the probes.

Have Central Banks Lost Credibility?
42:12 - John Woods, chief investment officer for Asia-Pacific at Credit Suisse Private Banking, discusses Janet Yellen's comments, the pace of the Fed's rate hikes and the disconnect between what the markets are pricing in and what the fundamentals are suggesting. He speaks to Bloomberg's Angie Lau on "Asia Edge." (Source: Bloomberg)
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