There's another dimension to that unfolding LIBOR scandal which cost Barclays, the British bank, its CEO and $450 million in fines after it was revealed that the bank had been manipulating international lending rates. Attention has shifted to why U.S. financial regulators, who knew about the rate rigging, didn't move to stop it more swiftly.
We're going to put that question to Robert Smith, correspondent for NPR's Planet Money. He joins us from New York. Robert, thanks for being with us.
At the end of July, thousands of visitors will descend on one of the great literary landscapes of history for the London Olympics. And if they're lucky, they may find themselves getting a ride from a man who drives for a living, but lives to read. London cabbie Will Grozier occasionally joins Weekend Edition to discuss what he's been reading. Lately, he's been thinking about books for the London Olympics visitor — reads that put both the games and the host city in context. He shares his recommendations with NPR's Scott Simon.
People keep asking me why I recorded Sergei Prokofiev's Fifth Symphony for my first CD release in my new post leading the Sao Paulo Symphony Orchestra. The simple answer is that it just felt right. But in thinking about it, I can now see many parallels — at least for me — between Prokofiev's music, the city of Sao Paulo and the country of Brazil.
As Mitt Romney defends his business record, President Barack Obama is on the campaign trail. He'll be in the suburbs of Richmond, Virginia and Washington, D.C. today. Yesterday, the president traveled to the Tidewater region of southeastern Virginia, and he continued to make his pitch that he is the best champion for the middle class. NPR's Scott Horsley reports.
Visa, MasterCard, some of the nation's other largest banks have agreed to a multibillion dollar settlement of a class action suit involving credit card transaction fees. Now, those are what merchants pay when you use plastic instead of cash. Retailers allege that the two largest payment networks conspired with the banks to keep so-called swipe fees high. NPR's Wendy Kaufman reports.
Last January, the captain of the Italian mega-cruise ship Costa Concordia committed an apparent act of maritime bravado a few yards from the shore of a Tuscan island. Thirty people were killed, and two are still missing.
Six months after one of the biggest passenger shipwrecks in recent history, relatives of the dead attended a memorial service Friday near the site of the disaster.
The solemn notes of Mozart's Requiem echoed through the small church of Saints Lorenzo and Mamiliano on the island of Giglio.