These central banks have agreed to lower the pricing on the existing temporary U.S. dollar liquidity swap arrangements by 50 basis points so that the new rate will be the U.S. dollar overnight index swap (OIS) rate plus 50 basis points.

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We doubt very many power users will be calling this handset their daily driver, and thus won't need to swap batteries on a regular basis.

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To make a legal case against Winnick, prosecutors will have to show that he knew that the swap transactions lacked an economic basis and were used to paint a false picture of the company's financial situation.

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In line with the cash share price tumble the Credit Default Swap on BP broke higher by 20 basis points 10 trade at 103bps over 3 month LIBOR.

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