and us regulators were informed of and us regulators were informed of an international stately drive to manipulate interest rates in the 2008 financial crisis but they cover it up. this morning the times newspaper on the bbc have published quotes from a secretive interview with barclays treasurer who gave evidence. artificially push down benchmark interest rates. that evidence was withheld from parliament and from jurors in the criminal trials of traders for manipulating interest rates. regulators, though, say they have met their disclosure obligations. what is going on, economics correspondent andy verity led the investigation and told me about the significance of holding them at lowering those rates. when you hear about interest rates whether on your mortgage or your personal loan actually they are not based on those central bank interest rate that is business hacks obsess about. they are actually based on how much it cost banks to borrow cash and international money market
as it continues to benefit from pent up demand for air travel. europe s largest carrier by passenger numbers also said it expects profits to rise modestly over the next year, and the summer travel season will be busy. the figures are better than industry watchers had expected. we knew they were going to be good but to record these numbers is exceptional so nearly 170 million passengers, that s up 74% on the previous year s. revenue has more than doubled, profit is 1.4 billion, and they re going to pay dividend this year. it s a phenomenal result and shows how quickly this market is turned around. it also shows how fragile the market is for aviation. there is a point where it suddenly flips you become very profitable, ryanair have put in a great set of results that even before the summer, which will be very strong. cheap airfares are a myth and anybody looking for summer holidays will tell you airfares are expensive, particularly in europe because we have not seen a lot of cap
believed there was a danger to his life. he said much more working with the danger to pakistani democracy. we will have more from pakistan on that last headline in just a we will have more from pakistan on that last headline injust a moment but let s head to the bbc sport centre and ran at the spot the day. olly foster is therefore is. come over to you. many thanks. matt cavendish says he has lived an absolute dream for over 25 doctor mark cavendish says he s has lived an absolute dream for over 25 years as a professioinal cyclist. he is going to retire at the end of the season he is currently competing in the giro d italia, but it s a rest day and he made his announcement earlier today. he s won a world championship on the road and two on the track..and has also been commonwelath cahmpion. but he s most famous for his tour de france stage wins. he shares the record of 3a with eddie merckx. here s bbc sports drew savage the bike has given me opportunities to see the world, me
from parliament and from jurors in criminal trials of traders for manipulating interest rates. regulators say they ve met their disclosure obligations. 0ur economics correspondent andy verity has led the investigation. reminders of the significance of libor and euribor. reminders of the significance of libor and euribor. whether interest rates on your libor and euribor. whether interest rates on your mortgage libor and euribor. whether interest rates on your mortgage a libor and euribor. whether interest rates on your mortgage a personall rates on your mortgage a personal loan, then us based on central business interest rates, they re based on how much it cost banks to borrow cash and libor and euribor keep track of those. every morning banks are asked questions about interest rates borrow cash and they give their answers and it may be 3.53 or it may be 3.56 or 3.54, they take an average of all of those and they get an average interest rate which is liborfor sterling and euro eur
and us regulators were informed of and us regulators were informed of an international stately drive to manipulate interest rates in the 2008 financial crisis but they cover it up. this morning the times newspaper on the bbc have published quotes from a secretive interview with barclays treasurer who gave evidence. artificially push down benchmark interest rates. that evidence was withheld from parliament and from jurors in the criminal trials of traders for manipulating interest rates. regulators, though, say they have met their disclosure obligations. what is going on, economics correspondent andy verity led the investigation and told me about the significance of holding them at lowering those rates. when you hear about interest rates whether on your mortgage or your personal loan actually they are not based on those central bank interest rate that is business hacks obsess about. they are actually based on how much it cost banks to borrow cash and international money markets and