Ten Things You Need to Know Today: Friday 6 Jul 2012

1. FRAUD INQUIRY INTO LIBOR SCANDAL

The Serious Fraud Office has formally launched an investigation into the manipulation of the Libor interbank lending rate, it was confirmed today. In the Commons yesterday, Labour's bid for a judge-held inquiry into banking culture was voted down. The debate was coloured by a bitter spat between Chancellor Osborne and Labour's Ed Balls.

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