Royal Nickel Corp., the owner of a nickel project in Quebec, gained the most in six months after the company signed a memorandum of understanding with Tsingshan Holding Group Co., a Chinese stainless-steel producer.
When Oswald Gruebel, chief executive officer of UBS AG, stepped off a plane in Zurich at dusk on Sept. 14, 2011, he had an urgent message on his mobile phone from investment-banking head Carsten Kengeter.
On a cool late summer evening last year in London’s financial district, with the euro-zone crisis worsening and Greece tottering on the edge of default, Kweku Adoboli says he asked the three traders who worked with him at UBS AG’s exchange-traded funds desk to join him for a drink.
John Hughes, who worked with Kweku Adoboli on the UBS AG ETF desk and didn’t alert management to a secret account Adoboli had where he hid profits to cover future losses, testified his firing was fair.
Kweku Adoboli, the former UBS AG trader on trial for fraud, went to “more elaborate lengths to make money” than others did as he produced large profits for the bank’s ETF desk, his ex-colleague John Hughes told a judge.