Barclays chief executive Bob Diamond resigned on Tuesday, the second head to roll in two days in a dramatic twist to a deepening scandal over the rigging of a key global interest rate.

European stock markets and the euro rose on Tuesday on prospects that central banks would announce action to boost economies, while Barclays shares jumped after the shock resignation of its chief executive.

Barclays bank chief executive Bob Diamond resigned on Tuesday, caving in to political pressure over a rate rigging scandal which may trigger criminal charges and is bringing the City of London into disrepute.

British banks, including HSBC and Barclays, were Friday ordered to compensate businesses for "serious failings" over the sale of complex products, capping a scandal-hit week for lenders.

London shares closed lower on Thursday as investors waited to see if EU leaders meeting in Brussels will deliver concrete steps to tackle the eurozone's spreading debt crisis.

Shares in Barclays plunged on Thursday as Prime Minister David Cameron said the bank had "serious questions" to answer after the company was hit by record fines for distorting rates.

Shares in Barclays bank plunged more than 10 percent and Prime Minister David Cameron said the company had "serious questions" to answer on Thursday after the bank was hit by record fines for distorting rates.

Shares in Barclays plunged more than 10 percent and Prime Minister David Cameron said the company has "serious questions" to answer on Thursday after the bank was hit by record fines for distorting rates.

Prime Minister David Cameron has called for management at Barclays bank to answer "serious questions" as pressure mounted on chief executive Bob Diamond to resign following a rate-rigging scandal.

Pressure was mounting on Barclays bank chief Bob Diamond Thursday as he was set to be summoned before MPs over a scandal which saw the bank fined £290 million after claims it manipulated key interest rate markets.

Barclays bank is to pay $452 million in fines following a probe into suspected manipulation by several banks of key markets for Libor and Euribor interest rates, the bank revealed on Wednesday.

Barclays bank revealed on Wednesday it will pay fines of £290 million ($452 million, 362 million euros) to British and US authorities over a probe into rate manipulation, and top staff will take a bonus cut.

Barclays bank on Wednesday said it had agreed to pay £290 million ($452 million, 362 million euros) in fines to British and US authorities to settle charges related to manipulation of interbank lending rates.

Self-made Australian mining tycoon Nathan Tinkler is to move to Singapore hoping to increase his wealth by being closer to Asia's money markets, reports said Saturday.

Greece paid higher rates to raise 1.3 billion euros (USD$1.7 billion) in a sale of 6-month treasury bills on Tuesday, two days after a shock anti-austerity vote, the debt management agency said.

China will ease monetary policy and boost liquidity in the financial system with a series of measures, state media cited a central bank official as saying, in a bid to avoid a sharp economic slowdown.

Greece on Tuesday paid sharply lower rates to raise 1.3 billion euros ($1.7 billion) in a sale of 6-month treasury bills, the debt management agency said.

Spain's borrowing costs rose sharply Wednesday at its first debt sale since a tough austerity budget last week, a sign of fresh concerns over its ability to bring its strained finances under control.

The European Central Bank again played firefighter in the eurozone debt crisis on Wednesday, flooding banks with nearly 530 billion euros in cheap loans to avert a dangerous credit squeeze.

NEW YORK (Reuters) - The Justice Department is conducting a criminal probe into whether the world's biggest banks manipulated a global benchmark rate, according to a person familiar with the situation.