BRITAIN TO LEESON . . . TOUGH

Rogue trader Nick Leeson won't be coming home to England anytime soon. British authorities now say that they will defer to Singapore's jurisdiction and will not extradite Leeson to Britain. As a trader in Singapore, Leeson allegedly caused the collapse of the venerable 232-year old Baring Bros. Bank. TIME's Michael Brunton reports from London: "Leeson has run out of options. Now he's in for a long trial and a longer sentence in Singapore. I guess the David Frost interview didn't work." Leeson is currently being held in a German prison awaiting a decision on Singapore's application to extradite him. Leeson's lawyers said they would fight the British decision.