Business

Aust lawyers look at Libor suit

LAWYERS are examining what losses have been suffered in Australia as a result of the Libor-fixing scandal rocking financial markets.

Regulators fined the British bank Barclays around $450 million for manipulating the Libor, a key international benchmark interest rate.

Slater & Gordon has told PM it is putting together a class action on behalf of businesses and investors who have used financial products that reference the Libor.

A practice group leader with the law firm, Van Moulis, says the losses in Australia are likely to be substantial.

"It would be very likely in the billions of dollars, the publicity coming out of the inquiry in England has estimated trillions of dollars worth of losses on a global basis," he said.

Read more at ABC news online.

Topics:  cash rate



NSW seniors set to save on groceries

New South Wales seniors can apply for a new discount on groceries.

Seniors can save on groceries with new discounts

New film off to a good start

Vision Pictures Australia recently launched its pitch trailer for new film, Dunamis.

Tweed-based company unveils the first taste of its upcoming film

Gig guide: Disco delights and blues/rock rippers

Disco greats Boney M perform at The Star, Gold Coast on Friday night.

Tweed and surrounds gig guide for October 18-23

Local Partners