News Headlines - 10 July 2012

▽Mitsubishi UFJ Suspends Two London Traders on Libor Probe - Bloomberg

Derivatives traders Christian Schluep and Paul Robson have been suspended from the bank, said a person briefed on the matter, who asked not to be identified. The two formerly worked at Dutch lender Rabobank, one of at least 12 banks being probed by regulators over allegations they rigged the London and euro interbank offered rates, the person said.

▽Egypt's parliament convenes in defiance of the military - Telegraph

The MPs' session was brief – it lasted just five minutes – but it pushed Egypt deeper into a potential power struggle between new President Mohammed Morsi and the powerful military, which has vowed to uphold the judicial ruling that led to parliament being dissolved.

▽Commons fight for Lords reform is neck-and-neck - Evening Standard

Ministers are today braced for a potentially damaging Commons defeat over Nick Clegg's plans for House of Lords reform.

▽BBC News - Work begins on new ￡12.5m life sciences centre

Work has begun on a ￡12.5m expansion to upgrade Dundee University's College of Life Sciences.

▽Cambridge News | Cambridge chemist wins oldest scientific prize

A Cambridge-based chemist who helped uncover the mechanism that powers living cells has been awarded the Copley Medal, believed to be the world’s oldest scientific prize. Professor Sir John Walker joins a long procession of illustrious scientists who have received the award from the Royal Society since 1731.