Several of the MPs who questioned Bob Diamond last week are now considering calling him back for a second session of questioning because they are dissatisfied with his answers. Andrea Leadsom, who was part of the inquiry team in Bob Diamond’s questioning, admitted that the Select Committee was nowhere close to the truth behind the Barclays banking scandal. Leadsom complained that she found parts of Diamond’s evidence “simply unbelievable”, while…

A House of Commons vote on Thursday night ruled out Labour’s demand for a judge-led public probe into Barclays rate-rigging scandal, leaving Ed Balls no choice but to agree to cooperate with a parliamentary investigation into the matter. The Shadow Chancellor, however, maintained there was a strong case for an independent judicial inquiry into the banking fiasco which has led to a series of resignations at Barclays and has also…

Bob Diamond, the CEO of Barclays, resorted to blaming other banks for misleading markets about their ability to borrow and regulators for taking no notice of the happenings. “This isn’t just Barclays. Throughout 2007 and 2008, no institution of the 16 banks reporting three-month dollar Libor was at the higher end more consistently than Barclays. Barclays was getting questions about why it was always high and we were saying, ‘We…

It would be unfair to hold the deputy governor of the Bank of England responsible for the rate-rigging scandal, believes George Osborne, who suggested Labour ex-ministers and aides could have played a part in the row. Referring to the memo that BoI released on Tuesday, Osborne said the Bank has made it clear that they did not ask Barclays to “cut its Libor rate”. The Chancellor’s statement comes after Bob…

David Cameron and Labour leader Ed Miliband clashed in the Commons over the terms of an inquiry into the interest rate-rigging scandal surrounding Barclays. The Prime Minister said a single parliamentary inquiry into the “appalling” events would be the most “swift and decisive” course of action. But Labour’s leader said this was “too narrow” and a much wider judicial probe into the culture of banking was needed. At Prime Minister’s…

David Cameron has launched a speedy inquiry into Barclay’s rate-rigging scandal to deal with the widespread criticism of British banking. Cameron said the Serious Fraud Office were looking at whether any criminal prosecutions could be brought. “I want us to establish a full parliamentary committee of inquiry involving both Houses chaired by the Chairman of the House of Commons Treasury Select Committee”, he said. “This inquiry will take evidence under…

The course of the ongoing investigations into phone-hacking scandal and BSkyB bid is likely to take a decisive turn as Prime Minister David Cameron, who is set to give evidence to Lord Justice Leveson today, will defend freedom of press. At the Leveson Inquiry, David Cameron will make his stance very clear that the government will not make any moves that may throttle freedom of press, Downing Street sources divulge,…

Former News International editor Rebekah Brooks, who has been accused of conspiracy to derail the course of law in connection with the phone-hacking scandal, gets bail till June 22. 44-year-old Brooks, who appeared at Westminster Magistrates Court with her husband Charlie Brooks and four former staff at News International, faces charges of concealing documents important to the ongoing investigation into the phone hacking scandal which first hit the headlines last…

Former News of the World editor and PM’s former communications chief, Andy Coulson, has been detained by Strathclyde Police on suspicion of committing perjury at the trial of former MSP Tommy Sheridan in 2010. The 44-year-old was arrested by seven officers from Strathclyde Police at his home in the Dulwich area of London at 6.30 am and is being taken to Glasgow for questioning. “Officers from Strathclyde Police’s Operation Rubicon team detained a 44-year-old man…

  Prime Minister David Cameron assures that he will “co-operate fully” with the Leveson inquiry panel and is prepared to provide complete evidence, including the text messages he and former News International CEO Rebekah Brooks shared between each other, if he is asked to do so. However, Brooks told the jury today that she does not retain possession of the emails because her work email account was blocked following her…