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S&P downgrades US growth forecast

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Standard & Poor's (S&P) credit ratings agency has lowered its U.S. growth forecast warning of "significant downside risks" from federal spending cuts.



RBS building

RBS exec said told client about Libor support in 2007

A Royal Bank of Scotland executive told a hedge fund client as early as August 2007 that banks were setting Libor rates to support their own trading, according to evidence from a U.K. lawsuit alleging that RBS’s misconduct has yet to be fully exposed.