A jury has convicted Tom Hayes, a former trader at UBS and Citigroup, with fraudulently trying to rig the London interbank offered rate, or Libor, the first criminal conviction of an individual for manipulating the widely used benchmark.
The benchmark Athex Composite was down 17% around midday after dropping more than 20% within minutes of opening, indicating investors are still concerned after the recent progress in bailout negotiations.
The commercial promise of drones has been limited by their short battery lives and propensity for flying off. Now some companies believe they have a solution: tie the drones to the ground with tethers hundreds of feet long.
Germany’s biggest auto makers have clinched a deal to buy Nokia’s digital mapping business, beating out rival bidders for some of the vital technology for self-driving cars in a $3.1 billion acquisition.