AI is the new Rachel Reeves
From our UK edition
The real ‘Libor scandal’ was not the fraudulent fixing of official interest rates to boost City traders’ profits and bonuses in the late 2000s. It was the £36 million or more of taxpayers’ money wasted by the Serious Fraud Office in its failed pursuit of criminal charges ever since – and the two decades of combined jail time endured by defendants whose convictions have now almost all been overturned. The latest twist in this legal farce is the reversal by the Court of Appeal of the lower court’s verdict on Christian Bittar, a Deutsche Bank derivatives trader who had pleaded guilty to conspiring to manipulate the Euribor rate (which applies to inter-bank euro borrowings) and spent almost two years behind bars.