News

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

'Rogue trader' Kweku Adoboli says he lost control in financial crisis

An alleged rogue trader accused of gambling away £1.4 billion described to a jury today how he “lost control in the maelstrom of the financial crisis”.

'This case shows how hard it is to cover up a trade once something has gone wrong'

British banking jobs at risk as UBS announces plans to cut 10,000 jobs worldwide

More British banking jobs were at risk today after UBS said it is to cut up to 10,000 roles worldwide in moves to shrink its investment banking arm.

Three more traders suspended in Libor inquiry

Russell Lynch

UBS banker Kweku Adoboli denies being a rogue trader after losing £1.4bn

A banker accused of Britain's biggest ever fraud today denied he was acting as a rogue trader when he lost £1.4 billion.

'Rogue trader' Kweku Adoboli weeps as he takes stand in £1.4bn fraud trial

An alleged rogue trader wept as he gave evidence today as a court heard how his actions threatened to lose his employer £7.5bn.

Stephen Foley: The disasters that show why we have to be on our guard with algos

US Outlook Si ves algo, di algo. If you see something, say something. It's written in all the subway cars here in New York City, a reminder we mustn't ignore suspicious packages or suspicious passengers. And as we trundled towards Wall Street station on Wednesday, I couldn't but think of it as a warning to stock-market investors, too. Si ves algo, di "algo".

James Moore: Facebook fiasco leaves UBS with uphill struggle

Outlook You know how it is. You're on the telephone, or online, trying to order something and it all goes kaput because someone's system doesn't work properly.

Financial markets: A temporary software glitch earlier this month cost Nasdaq more than $40m during the flotation of Facebook’s shares. The US tech stock exchange had to compensate investors who were unable to buy shares when the market opened

Facebook launch 'cost UBS £227m'

Banking group UBS claimed today that the botched stock market listing of social networking giant Facebook cost it 349 million Swiss francs (£227 million).

Stiff sentences for 'print room' insider trading ring

The six men in the so-called "print room" insider trader ring were yesterday jailed for up to three-and-a-half years for what the judge called deliberate, planned and dishonest share dealing.

Market Report: Reed Elsevier hurt by 'free info' ruling

Reed Elsevier led the blue-chip decliners yesterday as investors in the publisher baulked at the European Commission's decision to give free access to all research funded by European taxpayers.

Daniel Pinto: If it's your money at stake, you don't gamble

Senior staff must lock up their bonuses in the products they sell

Credit Suisse is told to up its cushion

The Swiss central bank has called on Credit Suisse to stage a "marked increase" its capital levels this year in preparation for the potential worsening of the eurozone crisis.

UBS 'rogue' trader Kweku Adoboli bailed – to McDonald's car park

The man accused of Britain's biggest bank fraud was freed on bail in farcical scenes yesterday ahead of his trial which is due to start in September.

Market Report: Glencore marks unhappy anniversary with new low

A much-hyped listing swiftly followed by the share price plummeting – sound familiar? As the fall-out from the Facebook IPO continues to rumble on, today marks the one-year anniversary of another debut that has not exactly lived up to expectations. After a massive float worth £37bn, official trading of shares in Glencore International began exactly 12 months ago. However, you could forgive those investors who got in at the start for not blowing out the candles on the cake with too much enthusiasm.

Big projects bring London alive

London has seen a surge in building work in the past six months despite the UK's slide back into recession, as developers look to cash in on a shortage of office space.

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