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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Netherlands' goalkeeper Tim Krul fails to make a save from Costa Rica's midfielder Celso Borges during a penalty shoot-out in the quarter-final between Netherlands and Costa Rica during the 2014 FIFA World Cup
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Sydney and Melbourne are locked in a row over giant milk crates
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Adèle Exarchopoulos and Léa Seydoux play teeneage lovers in the French erotic drama 'Blue Is The Warmest Colour' - The survey found four times as many women admitting to same-sex experiences than 20 years ago
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Two giraffes pictured on Garsfontein Road, Centurion, South Africa.
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View from the Llanberis Track to the mountain lake Llyn
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Day In a Page

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
Dress the Gaza situation up all you like, but the truth hurts

Robert Fisk on Gaza conflict

Dress the situation up all you like, but the truth hurts
Save the tiger: Tiger, tiger burning less brightly as numbers plummet

Tiger, tiger burning less brightly

When William Blake wrote his famous poem there were probably more than 100,000 tigers in the wild. These days they probably number around 3,200
5 News's Andy Bell retraces his grandfather's steps on the First World War battlefields

In grandfather's footsteps

5 News's political editor Andy Bell only knows his grandfather from the compelling diary he kept during WWI. But when he returned to the killing fields where Edwin Vaughan suffered so much, his ancestor came to life
Lifestyle guru Martha Stewart reveals she has flying robot ... to take photos of her farm

Martha Stewart has flying robot

The lifestyle guru used the drone to get a bird's eye view her 153-acre farm in Bedford, New York
Former Labour minister Meg Hillier has demanded 'pootling lanes' for women cyclists

Do women cyclists need 'pootling lanes'?

Simon Usborne (who's more of a hurtler) explains why winning the space race is key to happy riding
A tale of two presidents: George W Bush downs his paintbrush to pen father’s life story

A tale of two presidents

George W Bush downs his paintbrush to pen father’s life story
Restaurateur Mitch Tonks has given the Great Western Pullman dining car a makeover

The dining car makes a comeback

Restaurateur Mitch Tonks has given the Great Western Pullman dining car a makeover
Gallery rage: How are institutions tackling the discomfort of overcrowding this summer?

Gallery rage

How are institutions tackling the discomfort of overcrowding this summer?
Louis van Gaal has £500,000 video surveillance system installed to monitor Manchester United players

Eye on the prize

Louis van Gaal has £500,000 video surveillance system installed to monitor Manchester United players
Women's rugby: Tamara Taylor adds fuel to the ire in quest to land World Cup

Women's rugby

Tamara Taylor adds fuel to the ire in quest to land World Cup
Save the tiger: The day America’s love of backyard tigers led to a horrific bloodbath

The day America’s love of backyard tigers led to a horrific bloodbath

With only six per cent of the US population of these amazing big cats held in zoos, the Zanesville incident in 2011 was inevitable
Samuel Beckett's biographer reveals secrets of the writer's time as a French Resistance spy

How Samuel Beckett became a French Resistance spy

As this year's Samuel Beckett festival opens in Enniskillen, James Knowlson, recalls how the Irish writer risked his life for liberty and narrowly escaped capture by the Gestapo
We will remember them: relatives still honour those who fought in the Great War

We will remember them

Relatives still honour those who fought in the Great War
Star Wars Episode VII is being shot on film - and now Kodak is launching a last-ditch bid to keep celluloid alive

Kodak's last-ditch bid to keep celluloid alive

Director J J Abrams and a few digital refuseniks shoot movies on film. Simon Usborne wonders what the fuss is about
Once stilted and melodramatic, Hollywood is giving acting in video games a makeover

Acting in video games gets a makeover

David Crookes meets two of the genre's most popular voices