UK Libor plan to be world template. The UK’s plan to reform the world’s most important lending rate will guide a global drive towards more transparent and reliable pricing. Mr Wheatley, MD of the FSA and Gary Gensler, a US regulator, have been working together on rate setting guidelines which are to be issued in March. FT, p1; Libor rate riggers should go to jail says City regulator – Wheatley wants FSA to be given criminal powers to deal with rigging of Libor rates and to be responsible for authorizing managers and their subordinates involved in making submissions used to compile them.
Steve Morgan has been granted an extension until next week to make a bid for Redrow. He made an approach to take the company he founded through his other vehicle Bridgemere Securities.
Huge rise in joblessness for women over 50. Labour Party research shows that women over 50 are bearing the brunt of the government’s economic policies while trying to cope with the increasing burden of caring for relatives. Since May 2010, there has been an increase of 31% in unemployment among women aged 50-64.
Winter energy bills to soar. Millions of customers could see their energy bills increase by 50%. Ed Milliband pledged to cut these rates by changing the law.