Three British men arrested in UK Libor probe

LONDON/ZURICH Three British men were detained in London on Tuesday in the first arrests stemming from a global investigation into the manipulation of interbank lending rates. One of those arrested was former Citigroup and UBS trader Thomas Hayes, according to a source familiar with the situation. Hayes could not immediately be reached for comment and the identity of the others could not be determined by Reuters. Prosecutors and regulators across Europe, the United States, Canada and Japan have been investigating how traders attempted to rig key benchmark lending rates such as Libor (London interbank offered rate). Dozens of people have [...]