Authorities are this week expected to say that more than 30 bankers and managers at Swiss banking giant UBS were involved in the alleged rigging of the key Libor interest rate.

The Swiss bank is also set to reveal on Wednesday that it will pay a $1.5bn (£926m) fine to regulators in the UK, US and Switzerland. The bank’s Japanese securities unit is also expected to plead guilty to a US criminal offence, but it is not expected to lose its licence to operate in the country. The fine follows an agreement between UBS and regulators such as the US Commodity Futures Trading Commission, US Department of Justice, UK’s Financial Services Authority and UBS’s main Swiss supervisor Finma. The news comes as RBS is reported to have reached a sticking point in negotiations with the City regulator over the scale of its involvement in fixing Libor, a key City interest rate used as the reference rate for loans and financial derivatives worth more than $300 trillion.....Read more here on this story: Libor scandal: More than 30 UBS bankers 'to be implicated in rate rigging'