1 FACEBOOK WILL LET SOME OF ITS USERS SEE IF THEY INTERACTED WITH RUSSIAN PROPAGANDA WWW.BUSINESSINSIDER.COM  PUBLISHED:2017/11/23      2 TESLA LEADS SURGE IN U.S. ASSET-BACKED SECURITIES WWW.BLOOMBERGTV.MN PUBLISHED:2017/11/23      3 BRITAIN SETS ASIDE $4 BILLION FOR BREXIT WWW3.NHK.OR.JP PUBLISHED:2017/11/23      4 OIL SETS ITSELF UP FOR FALL IF OPEC CAN'T DELIVER CUTS EXTENSION WWW.BLOOMBERG.COM  PUBLISHED:2017/11/23      5 THESE DOOMSDAY PREPPERS ARE STARTING TO SWITCH FROM GOLD TO BITCOIN WWW.MINING.COM  PUBLISHED:2017/11/23      6 MONGOLIA ATTENDS ASEM FOREIGN MINISTERS' MEETING WWW.MONTSAME.MN PUBLISHED:2017/11/23      7 NOVEMBER 22, 2017 TRADING REPORT WWW.MSE.MN PUBLISHED:2017/11/23      8 ADB TO PROVIDE A $50 MILLION LOAN TO HELP MONGOLIA SUSTAIN EDUCATION QUALITY AND ACCESS WWW.AKIPRESS.COM  PUBLISHED:2017/11/23      9 DOLLAR DUMPED, BONDS BOOSTED ON FED INFLATION CAUTION WWW.REUTERS.COM PUBLISHED:2017/11/23      10 YOU CAN BUY ALMOST ANYTHING ONLINE IN CHINA, EVEN A JUMBO JET WWW.RT.COM  PUBLISHED:2017/11/23      УБТЗ НИЙГЭМЛЭГ 441 ХҮНИЙГ АЖЛЫН БАЙРААР ХАНГАЛАА WWW.EAGLE.MN  НИЙТЭЛСЭН:2017/11/23     ХЯТАД УЛС ДЭЛХИЙН ХАМГИЙН АНХНЫ НИСДЭГ МАШИНЫ КОМПАНИЙГ ХУДАЛДАН АВЛАА WWW.MONTSAME.MN  НИЙТЭЛСЭН:2017/11/23     БАНКНУУДЫН АКТИВЫН ЧАНАРЫН ҮНЭЛГЭЭНИЙ ДҮН ИРЭХ САРЫН ДУНДУУР ГАРНА WWW.BLOOMBERGTV.MN  НИЙТЭЛСЭН:2017/11/23     ҮСХ: АДУУНЫ МАХНЫ ЭКСПОРТ 3.9 ДАХИН ӨССӨН WWW.BLOOMBERGTV.MN  НИЙТЭЛСЭН:2017/11/23     МОНГОЛЫН ХӨРӨНГИЙН ЗАХ ЗЭЭЛИЙН ӨСӨЛТИЙГ БЛҮҮМБЭРГ ТВ МОНГОЛИА ОНЦОЛЛОО WWW.MSE.MN  НИЙТЭЛСЭН:2017/11/23     ЭНЭ ОНЫ ГУРАВДУГААР УЛИРЛЫН БАЙДЛААР МОНГОЛ УЛС 26 ТЭРБУМ АМ.ДОЛЛАРЫН ГАДААД ӨРТЭЙ ГЭВ WWW.DNN.MN  НИЙТЭЛСЭН:2017/11/23     ЧУУЛГАН: ЕРӨНХИЙЛӨГЧИЙН НЭР ДЭВШҮҮЛЭХ ЭРХИЙГ ӨӨРЧЛӨВ WWW.NEWS.MN  НИЙТЭЛСЭН:2017/11/23     БАЙГАЛИЙН ШАТДАГ ХИЙ (CNG)-Н СТАНЦ БАЙГУУЛЖ БАЙГАА АЖИЛТАЙ ТАНИЛЦЛАА WWW.DNN.MN  НИЙТЭЛСЭН:2017/11/23     11-Р САРЫН 22-НЫ ӨДРИЙН АРИЛЖААНЫ МЭДЭЭ WWW.MSE.MN НИЙТЭЛСЭН:2017/11/23     ЗАРИМ КОМПАНИЙН АРИЛЖААГ ТҮР ЗОГСООХООР БОЛЛОО WWW.NEWS.MN НИЙТЭЛСЭН:2017/11/22    

Hedge fund sues Barclays Bank for £650M over alleged copper market rigging www.mining.com

Red Kite, the largest metals hedge fund in the world run by UK Conservative Party donor Michael Farmer, is alleging that Barclays Bank attempted to rig the copper market through insider dealings with the London Metal Exchange.

The former Conservative Party treasurer and peer, known as 'Mr Copper' for his $2 billion fund, "is claiming losses related to alleged manipulation of the copper market for three years up until 2013," according to a story run Friday in The Telegraph. The lawsuit alleges that Barclays allowed staff to share confidential information about its positions with LME traders, which enabled the bank to profit by placing opposing bets, according to court documents.

The bank denies it mishandled confidential information. The LME would not comment except to say that anyone in breach of LME rules would be disciplined, The Telegraph said.

Other banks have of course been called to task over alleged manipulation of metals markets.

In April 2016 Deutsche Bank AG agreed to settle U.S. litigation over allegations it illegally conspired with Bank of Nova Scotia and HSBC Holdings Plc to fix silver prices at the expense of investors. Later that year, Canada's Scotiabank (the Bank of Nova Scotia) was forced to turn over internal emails and other correspondence spanning several years. The move was part of a lawsuit accusing four major banks of conspiring for a decade to fix prices and exploit distortions at the expense of investors in global markets for the precious metal.

Investors allege the banks conspired from 2004 to 2013 to fix prices for gold. They did not estimate the size of the banks' bullion portfolios, but said the gold derivatives market alone was as large as $650 billion during the class action period.



Published Date:2017-10-23