Osborne: New Ties For Uk-china

In previous legal rulings judges have stopped short of saying Libor is relevant to all claims against banks but said it could be used in cases where contracts have been linked specifically to the benchmark. Barclays is being sued for up to 70 million pounds ($112 million) by Guardian Care Homes, a UK residential care home operator, which alleges the bank mis-sold it interest rate hedging products that were based upon Libor. The case has been delayed until April 2014 so the appeal decision can be heard. It started out as a complaint about the alleged mis-selling of interest rate swaps but a judge ruled last October that it could be amended to include claims of fraudulent misrepresentation connected to Libor manipulation. Barclays said the case has no merit because Guardian Care Homes had sufficient understanding of the products to make its own judgment over whether to enter into the agreements. “The addition of a claim based on what happened with Libor does not change the bank’s view. This business had a suite of advisors and a lot of financial experience and skill in-house,” it said on Friday. Barclays last year paid a $450 million to settle allegations it manipulated Libor, and UBS and Royal Bank of Scotland have been fined for manipulating Libor. Deutsche is among several other banks under investigation. Deutsche Bank last year sued Indian property firm Unitech for the repayment of a $150 million loan made in 2007 by a consortium of lenders and for the repayment of $11 million owed for a related interest-rate swap. But Unitech counter-sued, saying the loan and swap deal were linked to Libor interest rates, which at the time were being manipulated by some banks. A UK court last month said Unitech must repay the loan, but said the dispute over the related swap should go to trial. The judge said just because there was evidence the Libor rate had been manipulated did not make a loan void. But he said the terms of the swap agreement and its specific link to a Libor contract were more contentious. “The defendant’s attempts to introduce broad and unsupported allegations about Libor, which have already been rejected once by the High Court, are a bid to delay payment and divert attention from its unpaid debts,” Deutsche Bank said on Friday.

UK unveils plans for major expansion project of Gatton College of Business by spring 2016

The new entrance will be from the campus rather than Limestone as it is currently. (Photo from UK)

Credit: Stefan Rousseau/PA Wire Chancellor George Osborne said he and Boris were “yin and yang”. Credit: Stefan Rousseau/PA Wire Students at Peking University pose with Boris. Credit: Stefan Rousseau/PA Wire about 15 hours ago Brits need to change Chinese industry ‘sweatshop’ view Chancellor George Osborne wants Britons to stop viewing Chinese industry as a “sweatshop” and accept it is a world leader in high-tech industries. Amid concerns about human rights and corruption, Mr Osborne said China was “tackling its own problems” in the “way it thinks is appropriate”. Britain and China are two very old civilisations and China represents a fifth of the world’s population. Of course we can bring up issues that we have concerns about but we do also have to respect the fact it is a deep and ancient civilisation that is tackling its own problems and going about it in the way it thinks is appropriate. We can point out where we would do things differently, but I do think we need to show some respect for that. I think there is a bit of a British attitude which treats China as a sweatshop on the Pearl River. One of the things I’m trying to do this week in China is to change British attitudes to China… this is a country that is right at the forefront of medicine and high-tech and computing and high-tech engineering and all of that. Chancellor George Osborne speaking to BBC Radio 4 Today programme about 17 hours ago Boris Johnson and George Osborne are ‘yin and yang’ Chancellor George Osborne joked that he and Boris Johnson are like “the yin and the yang” as they both continued their visit to China. George Osborne said he and Boris Johnson are like “yin and the yang”. Credit: Matt Dunham/PA Archive Read: Chancellor’s mission to make up lost ground and build bridges with China Asked about the timing of their trips which saw the Chancellor and London Mayor in China at the same time, Mr Johnson joked with Beijing students that they were like a “pair of harmonious doves”. The London Mayor was asked who was in charge and he replied: “We are representing our country.

The logo of Barclays bank is seen at its office in the Canary Wharf business district of London April 1, 2013. REUTERS/Chris Helgren

Expansion and renovation of the Gatton College is part of UKs overall capital improvement plan (House Bill 7) approved earlier this year by the Kentucky General Assembly and signed into law by Gov. Steve Beshear. No state tax dollars will be used in any of the UK construction projects, which include the Gatton project, a new science building on campus, and improvements to Commonwealth Stadium and UKs football facilities. At a groundbreaking Friday, Oct. 11, UK Pres. Eli Capilouto expressed his gratitude to the colleges benefactors who collectively have made more than $45 million in pledges and contributions toward the ambitious undertaking. He also praised the work of Gatton College Dean David W. Blackwell since the dean arrived on campus in March 2012. The new entrance will be from the campus rather than Limestone as it is currently. (Photo from UK) Dean Blackwell hit the ground running and has not stopped, said Capilouto. He and his team have done a tremendous job in raising additional support for this project while coming up with a design which will add to the beauty of our campus while providing truly state-of-the-art facilities in which our students will learn in an optimal, collaborative environment. The expansion and renovation plans call for a dramatic increase in space for educational offerings, as well as high-tech enhancements to classrooms and laboratories for students on both the undergraduate and graduate levels. The Gatton College is expected to grow substantially in the number of students entering its programs in future years, as well as in the quality of the academic profile of those students. Among the highlights of the new facility are: The footprint of the college will expand by 40 percent to 210,000 square feet.

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