Business

Aust lawyers look at Libor suit

LAWYERS are examining what losses have been suffered in Australia as a result of the Libor-fixing scandal rocking financial markets.

Regulators fined the British bank Barclays around $450 million for manipulating the Libor, a key international benchmark interest rate.

Slater & Gordon has told PM it is putting together a class action on behalf of businesses and investors who have used financial products that reference the Libor.

A practice group leader with the law firm, Van Moulis, says the losses in Australia are likely to be substantial.

"It would be very likely in the billions of dollars, the publicity coming out of the inquiry in England has estimated trillions of dollars worth of losses on a global basis," he said.

Read more at ABC news online.

Topics:  cash rate




Home invasion teen attacks man in front of toddler

Brandon Clay Hill was jailed for eight months for a brazen home invasion.

Judge blasts young dad for violent attack on home occupants

Rooster sees a future for Warwick in pedal power

RIDE ON: Rooster Lucas sees a future for Warwick as a cycling hub.

Rooster Lucas is a lifelong lover of anything with two wheels

Latest deals and offers

Blac Chyna sued after car injured 2 women

Blac Chyna is being sued after her friend crashed into another car

Bachelor Richie gives bacon-loving Noni the boot

Noni Janur features on this season of The Bachelor.

TOOWOOMBA swimwear designer still single but focusing on her career.

Chris Hemsworth surprises kids at hospital as Thor

Chris Hemsworth and Tom Hiddleston surprised children at hospital

MOVIE REVIEW: War Dogs tells a fascinating true story

Miles Teller and Jonah Hill in a scene from the movie War Dogs.

DARKLY funny film examines the business side of the war on terror.

Marvel-ous: Thor actors visit sick kids at Lady Cilento

Stars of Thor: Ragnarok dropped in on patients at the hospital

Folk singer looking forward to her Gympie Muster debut

Alternative country folk singer Fanny Lumsden will perform at the Gympie Muster.

FANNY Lumsden to serenade new fans with her country hall-style show.

ISLAND FOR SALE: Cheap Fraser Coast island drops price again

Suna Island in the Great Sandy Strait will be auctioned by Ray White Hervey Bay on Saturday morning.

This is the cheapest island you will find for sale in Australia

How a family home can fit on a 250sq m block

This is what you can build on 250m2.

Here's the floor plan of a home built on 250sq m

$100m plan for Curtis Island 'world class' luxury resort

$100 million resort: Top views at Turtle Street at Curtis Island.

"At the moment we think it meets all the town planning approvals.”

Coast building approvals at seven-year high: report

The the 2015/16 Development Indicators Annual Highlights Report documents local development activity that took place during the last financial year.

New report shows increasing development on the Sunshine Coast

Top honours for Mackay and Whitsunday builders

The Kerrisdale Gardens property from Paynter Dixon Queensland which won them Project of the Year.

Mackay and Whitsunday builders awarded top honours last night.

Investors eye Gladstone's $4m island with resort approval

UP FOR SALE: Turtle Island is on the market.

CHINESE and Sydney investors flag interest in Gladstone island.