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| Version 0 | Version 1 |
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| First Libor trial starts in London | First Libor trial starts in London |
| (about 2 hours later) | |
| The first criminal trial linked to the manipulation of a key interest rate, known as Libor, has begun in London. | |
| Former City trader Tom Hayes, of Fleet in Hampshire, is accused of eight counts of conspiracy to defraud by rigging the Libor rate. | |
| Mr Hayes, who used to work for UBS and Citigroup and was arrested in June 2013, denies the charges. | Mr Hayes, who used to work for UBS and Citigroup and was arrested in June 2013, denies the charges. |
| The Libor rate is used by banks around the world to set the price of financial products worth billions of pounds. | The Libor rate is used by banks around the world to set the price of financial products worth billions of pounds. |
| Mr Hayes is accused of lying about the rates that his bank was borrowing money at, thus affecting the calculation of the Libor rate. | Mr Hayes is accused of lying about the rates that his bank was borrowing money at, thus affecting the calculation of the Libor rate. |
| The trial is set to last between 10 and 12 weeks and relates to events between 2006 and 2010. | The trial is set to last between 10 and 12 weeks and relates to events between 2006 and 2010. |
| The way that Libor has been calculated has been changed since then. | The way that Libor has been calculated has been changed since then. |