Leicester city council yesterday revealed it was preparing to move £6m out of Barclays in protest at the Libor rate-fixing scandal as fresh speculation emerged about the candidates to replace the former chief executive Bob Diamond. As bookmakers Paddy Power stopped taking bets on who would be the new boss after a flurry of wagers backing the head of Barclays' investment bank, Rich Ricci, details of the scandal's potential impact on the bank and the wider industry began to emerge. The row is expected to extend beyond Barclays, and analysts at Morgan Stanley reckon that the 11 or so banks involved in setting the Libor level could be forced to take a combined £14bn hit from litigation and penalties. There is also mounting political anger in the US, with a group of Democratic senators calling on the attorney general, Eric Holder, and financial regulators to step up investigations into the Libor abuses. In the UK, the repercussions have already begun.