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.
Uncertainty over the country’s future relationship with the eurozone sent Greek manufacturing into a tailspin in July, but that had little impact on other parts of the currency area’s economy, as Italian factories had their best month in more than four years.
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.