A US report is accusing British officials of hampering a probe into HSBC, one of the world's largest banks. According to the report, HSBC was not prosecuted because of fears for the global economy. The report says that Osborne "insinuated" that the US was unfairly tareting UK banks by seeking settlements higher than those for US banks and takes issue with UK financial regulators. It argued that HSBC was not prosecuted because of fears for the global economy. The report called, "Too Big to Jail: Inside the Obama Justice Department's Decision Not to hold Wall Street Accountable," accuses Britain's Treasury chief George Osborne of intervening in the investigation into the London-based bank.

Source: dna July 12, 2016 15:56 UTC