Latest Financial crisis News

Ex-Fed chair Ben Bernanke finds 'significant shortcomings' in Bank of England's economic forecasting

Apr. 12, 2024 08:38 AM EDT

LONDON (AP) — A review of the Bank of England's economic forecasting that was published Friday and undertaken by Ben Bernanke, the former chair of the U.S. Federal Reserve, has found “significant shortcomings” that should be addressed to better inform future interest rate decisions. ...

A UK financial trader dubbed the ringleader of an interest rate manipulation scandal loses an appeal

Mar. 27, 2024 12:54 PM EDT

LONDON (AP) — A British financial trader, who has been described as the ringleader in the manipulation of a key interest rate before and after the global financial crisis, lost his appeal Wednesday to have his conviction quashed. Tom Hayes, 44, who was a former trader at U.S. bank...