Simon English: Cultural renaissance comes to Barclays

Outlook A huge fine for Barclays for truly egregious behaviour and the same somewhat comical stance from the bank that it is shocked to discover it turns out to have been orchestrating a crime.

Libor is one of those esoteric financial instruments that truly influence nearly everyone on the planet. Fixing it for your own gain is simply appalling behaviour.

Chief executive Bob Diamond says: "Nothing is more important to me than having a strong culture at Barclays. I am sorry that some people acted in a manner not consistent with our culture and values."