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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British actor Idris Elba is also a DJ and rapper who played Ibiza last summer
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After another poor series in Sri Lanka, Alastair Cook claimed all players go through a lean period
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The Tesco Hudl2: An exceptional Android tablet that's powerful, well-built and outstanding value
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Sarah Silverman (middle) with sister Reform Rabbi Susan Silverman (right) and sister actress Laura Silverman (left) at Jerusalem's Western Wall for feminist Hanuka candle-lighting ceremony
peopleControversial comedian stages pro-equality Hanukkah lighting during a protest at Jerusalem's Wailing Wall
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The Bach Choir has been crowned the inaugural winner of Sky Arts’ show The Great Culture Quiz
arts + ents140-year-old choir declared winner of Sky Arts' 'The Great Culture Quiz'
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Independent Travel
Burgundy, the River Rhone & Provence – Five-star MS Swiss Corona 7 nights from £999pp
Lake Como St Moritz & the Bernina Express 7 nights from £809pp
Vietnam
Lake Maggiore, Orta & the Matterhorn 7 nights from £939pp
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Prices correct as of 19 December 2014
Homeless Veterans appeal: 'You look for someone who's an inspiration and try to be like them'

Homeless Veterans appeal

In 2010, Sgt Gary Jamieson stepped on an IED in Afghanistan and lost his legs and an arm. He reveals what, and who, helped him to make a remarkable recovery
Could cannabis oil reverse the effects of cancer?

Could cannabis oil reverse effects of cancer?

As a film following six patients receiving the controversial treatment is released, Kate Hilpern uncovers a very slippery issue
The Interview movie review: You can't see Seth Rogen and James Franco's Kim Jong Un assassination film, but you can read about it here

The Interview movie review

You can't see Seth Rogen and James Franco's Kim Jong Un assassination film, but you can read about it here
Serial mania has propelled podcasts into the cultural mainstream

How podcasts became mainstream

People have consumed gripping armchair investigation Serial with a relish typically reserved for box-set binges
Jesus Christ has become an unlikely pin-up for hipster marketing companies

Jesus Christ has become an unlikely pin-up

Kevin Lee Light, aka "Jesus", is the newest client of creative agency Mother while rival agency Anomaly has launched Sexy Jesus, depicting the Messiah in a series of Athena-style poses
Rosetta space mission voted most important scientific breakthrough of 2014

A memorable year for science – if not for mice

The most important scientific breakthroughs of 2014
Christmas cocktails to make you merry: From eggnog to Brown Betty and Rum Bumpo

Christmas cocktails to make you merry

Mulled wine is an essential seasonal treat. But now drinkers are rediscovering other traditional festive tipples. Angela Clutton raises a glass to Christmas cocktails
5 best activity trackers

Fitness technology: 5 best activity trackers

Up the ante in your regimen and change the habits of a lifetime with this wearable tech
Paul Scholes column: It's a little-known fact, but I have played one of the seven dwarves

Paul Scholes column

It's a little-known fact, but I have played one of the seven dwarves
Fifa's travelling circus once again steals limelight from real stars

Fifa's travelling circus once again steals limelight from real stars

Club World Cup kicked into the long grass by the continued farce surrounding Blatter, Garcia, Russia and Qatar
Frank Warren column: 2014 – boxing is back and winning new fans

Frank Warren: Boxing is back and winning new fans

2014 proves it's now one of sport's biggest hitters again
Jeb Bush vs Hillary Clinton: The power dynamics of the two first families

Jeb Bush vs Hillary Clinton

Karen Tumulty explores the power dynamics of the two first families
Stockholm is rivalling Silicon Valley with a hotbed of technology start-ups

Stockholm is rivalling Silicon Valley

The Swedish capital is home to two of the most popular video games in the world, as well as thousands of technology start-ups worth hundreds of millions of pounds – and it's all happened since 2009
Did Japanese workers really get their symbols mixed up and display Santa on a crucifix?

Crucified Santa: Urban myth refuses to die

The story goes that Japanese store workers created a life-size effigy of a smiling "Father Kurisumasu" attached to a facsimile of Our Lord's final instrument of torture
Jennifer Saunders and Kate Moss join David Walliams on set for TV adaptation of The Boy in the Dress

The Boy in the Dress: On set with the stars

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