International

FT: Barclays Top Execs Face Fresh LIBOR Heat

The Financial Times reported that email evidence presented in a London court suggests that top executives at Barclays knew the bank was “lowballing” its submissions to the rate setting process almost a year earlier than previously disclosed. read more

World Bank: Global Economy Remains Fragile

In a newly released report, the World Bank said four years after the onset of the global financial crisis, the world economy remains fragile and growth in high-income countries is weak. read more

CFO: Relaxed Basel Rules Don’t Increase Bank Risk

CFO reported that finance organizations are responding positively to the news that the Basel III liquidity rules will not be as strict as bankers had feared and that there will be more time to comply. read more

Leasing 'Power 50' Includes Leasing Foundation Members

Three of the directors of the Leasing Foundation, along with Foundation patron Chris Sullivan and 11 governors, were named in Leasing Life's Power 50, a list of the most influential people in the European industry. read more

Leasing Foundation Names First International Intern

Joining the Leasing Foundation for 2013 as the first of its international interns is Gila Birk, who will work with the foundation on a number of projects including the Annual Conference and Women in Leasing. read more

Basel Deal: Banks Win Watered Down Liquidity Rule

Bloomberg reported that global central bank chiefs agreed to water down and delay a planned bank liquidity rule to counter warnings that the proposal would strangle lending and stifle the economic recovery. read more

Mitsubishi Establishes Leasing Company in China

Mitsubishi announced the establishment and commencement of a leasing company, Hongling Financial Leasing, in Shanghai, China. Hongling will be leasing construction machinery manufactured by Hitachi Construction. read more

UBS Announces Record $1.5B LIBOR Settlement

UBS announced a record settlement with global authorities agreeing to $1.5 billion in fines for its role in a multiyear scheme to manipulate interest rates. read more

Bloomberg: EU Car Sales Reach 19-Year Low

Bloomberg reported that European Union car sales fell to a 19-year low, as a recession in countries using the euro hurt demand. A trade association predicted this year’s European car sales will be the fewest since 1995. read more

Societe Generale EF Named 'European Lessor of the Year'

Societe Generale Equipment Finance said it received the "European Lessor of the Year" and "SME Champion of the Year" awards at the Leasing Life Awards ceremony. read more

Bloomberg: UBS Close to $465MM LIBOR Settlement

Bloomberg is reporting that UBS is close to making agreements with regulators to pay $465 million to settle allegations traders tried to rig global interest rates. read more

U.S. Said to Weigh Tightening Rules for Foreign Lenders

Bloomberg reported that as part of new standards for the nation’s largest banks being drafted by the Fed, U.S. units of foreign lenders may be required to comply with tougher capital rules that some banks sought to skirt. read more

Bloomberg: Goldman Turns Down Banks as Crisis Lingers

Bloomberg reported that Goldman Sachs turned down roles in offerings by banks in Spain and Italy this year, the only top U.S. securities firm not to take part in the fundraisings by southern European lenders. read more

Cat Financial, Standard Bank Co-Brand Financing in Africa

Cat Financial and Standard Bank said they have entered into an agreement through which the bank will provide a range of financial services to Caterpillar’s customers in six African countries. read more

WSJ: China's Construction Equipment Industry Struggles

The Wall Street Journal reported that despite signs of improvement from this year’s industry-wide sales slump, Chinese construction equipment makers have seen Q3 net profit declines. read more

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