Libor drops, signals credit thaw

LONDON: The cost of borrowing in dollars in London fell for a sixth day as signs the worst of the global financial turmoil may be over made banks less wary of lending. The London interbank offered rate, or Libor, that banks say they charge each other for three-month loans dropped half a basis point to 1.16%, bringing its decline in the past three weeks to 16 basis points.