News

Don’t cry for Aberdeen Asset Management but Argentina’s currency issues sent it falling yesterday.

UBS pays millions to settle US mortgage mis-selling claim

UBS, the Swiss bank that employs thousands of people in the City, has agreed to settle a multimillion-dollar legal case brought against it for selling mortgage-based investments which went bad in the financial crisis.

Disgraced French politician Dominique Strauss-Kahn

‘Animal instincts exist’: DSK makes comeback in Paris with appearance at Senate committee on tax evasion

Former IMF chief, Dominique Strauss-Kahn, delivers confident lecture two years after claims he sexually assaulted maid

Libor scandal: ex-UBS trader Tom Hayes is charged by fraud office

A former UBS trader was today charged with offences of conspiracy to defraud in connection with the investigation by the Serious Fraud Office into the manipulation of the Libor interbank lending rate.

US tax dodgers targeted as Swiss ease secrecy

Switzerland has agreed to adopt new rules that would free its banks to reach settlements with the US authorities as they go after wealthy Americans suspected of using the European country's financial secrecy regime to evade taxes.

Market Report: Morrisons on shelf after shares sell-off

The supermarket chain Morrisons enjoyed a day in the sun last week after it unveiled a 25-year, £170m licensing deal with Ocado to help it launch food online next year. But yesterday, the UK's fourth-biggest grocer was back in the shade after an institutional investor offloaded a large chunk of shares. Morrisons fell 6.7p to 282.6p, while traders waking up to mixed sales data from the supermarket might have also decided to put their money in the baskets of rivals Sainsbury's and Tesco.

Activist shareholder Knight Vinke urges UBS to split up investment bank

Activist shareholder Knight Vinke today called on Swiss bank UBS to split up its investment bank, most of which is based in London, from its wealth-management and domestic banking activities.

Market Report: Resolution gets a result for Cowdery

Clive Cowdery's Resolution was in demand yesterday following upgrades from brokers at Barclays Capital and JP Morgan. Analysts at BarCap seemed enthused by a meeting with the insurer's management, who are crunching together the Friends Provident, Axa Life and Bupa businesses that Mr Cowdery acquired after launching the company in 2006.

City hit by record fines as watchdog vows to keep up pressure

Penalties hit £136m in first quarter as City fears era of 'fine inflation'

Simon English: Tidjane Thiam is a naughty boy and the Pru's not the Messiah

Outlook By most common consent Tidjane Thiam is a brilliant chief executive. He is also a very naughty boy, at least according to the Financial Services Authority. The £30m fine whacked on to the insurer, and his censure by the watchdog yesterday, are unusual in lots of ways and a clear indication of just how angry the FSA was and is with Mr Thiam.

UBS pays £17m 'golden hello' to the man who broke RBS

Andrea Orcel paid in cash and shares after being poached by the Swiss bank

EU will cut fines for banks to end its probe into Libor

The European Union is hoping to wrap up its investigation into the Libor-fixing scandal by offering banks the chance to settle with reduced fines, it emerged yesterday.

Posties could take delivery of Royal Mail shares in float

Royal Mail staff could end up owning a tenth of the group when it becomes the biggest privatisation since the 1980s, according to reports over the weekend.

BAE's top trio to miss their bonus targets

Managers lose out on millions as defence giant's profit falls amid military spending freeze

Libor fines leave UBS with quarterly loss

UBS, the Swiss bank with huge offices in Broadgate, lost SFr1.9 billion  (£1.3 billion) in the final quarter of 2012 after it was hit with £994 million of fines for Libor-rigging.

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Burgundy, the River Rhone & Provence – MS Swiss Corona - seven nights from £999pp
Lake Maggiore, Orta and the Matterhorn – seven nights from £899pp
Sicily – seven nights from £939pp
Pompeii, Capri and the Bay of Naples - seven nights from £799pp
Istanbul Ephesus & Troy – six nights from £859pp
Mary Rose – two nights from £319pp
Backhanders, bribery and abuses of power have soared in China as economy surges

Bribery and abuses of power soar in China

The bribery is fuelled by the surge in China's economy but the rules of corruption are subtle and unspoken, finds Evan Osnos, as he learns the dark arts from a master
Commonwealth Games 2014: Highland terriers stole the show at the opening ceremony

Highland terriers steal the show at opening ceremony

Gillian Orr explores why a dog loved by film stars and presidents is finally having its day
German art world rocked as artists use renowned fat sculpture to distil schnapps

Brewing the fat from artwork angers widow of sculptor

Part of Joseph Beuys' 1982 sculpture 'Fettecke' used to distil schnapps
BBC's The Secret History of Our Streets reveals a fascinating window into Britain's past

BBC takes viewers back down memory lane

The Secret History of Our Streets, which returns with three films looking at Scottish streets, is the inverse of Benefits Street - delivering warmth instead of cynicism
Joe, film review: Nicolas Cage delivers an astonishing performance in low budget drama

Nicolas Cage shines in low-budget drama Joe

Cage plays an ex-con in David Gordon Green's independent drama, which has been adapted from a novel by Larry Brown
How to make your own gourmet ice lollies, granitas, slushy cocktails and frozen yoghurt

Make your own ice lollies and frozen yoghurt

Think outside the cool box for this summer's tempting frozen treats
Ford Fiesta is UK's most popular car of all-time, with sales topping 4.1 million since 1976

Fiesta is UK's most popular car of all-time

Sales have topped 4.1 million since 1976. To celebrate this milestone, four Independent writers recall their Fiestas with pride
10 best reed diffusers

Heaven scent: 10 best reed diffusers

Keep your rooms smelling summery and fresh with one of these subtle but distinctive home fragrances that’ll last you months
Commonwealth Games 2014: Female boxers set to compete for first time

Female boxers set to compete at Commonwealth Games for first time

There’s no favourites and with no headguards anything could happen
Five things we’ve learned so far about Manchester United under Louis van Gaal

Five things we’ve learned so far about United under Van Gaal

It’s impossible to avoid the impression that the Dutch manager is playing to the gallery a little
Screwing your way to the top? Good for Lana Del Rey for helping kill that myth

Screwing your way to the top?

Good for Lana Del Rey for helping kill that myth, says Grace Dent
Will the young Britons fighting in Syria be allowed to return home and resume their lives?

Will Britons fighting in Syria be able to resume their lives?

Tony Blair's Terrorism Act 2006 has made it an offence to take part in military action abroad with a "political, ideological, religious or racial motive"
Beyoncé poses as Rosie the Riveter, the wartime poster girl who became a feminist pin-up

Beyoncé poses as Rosie the Riveter

The wartime poster girl became the ultimate American symbol of female empowerment
The quest to find the perfect pair of earphones: Are custom, 3D printed earbuds the solution?

The quest to find the perfect pair of earphones

Earphones don't fit properly, offer mediocre audio quality and can even be painful. So the quest to design the perfect pair is music to Seth Stevenson's ears
US Army's shooting star: Lt-Col Steven Cole is the man Hollywood calls when it wants to borrow a tank or check a military uniform

Meet the US Army's shooting star

Lt-Col Steven Cole is the man Hollywood calls when it wants to borrow a tank or check a military uniform