Tim Harris News
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European stocks erased losses in the final minutes of trading as Federal Reserve Bank of St. Louis President James Bullard said the U.S. central bank should continue its bond-buying program.
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Kweku Adoboli, accused of unauthorized trades that cost UBS AG $2.3 billion, will go on trial Sept. 14, charged with fraud and false accounting in one of the highest-profile banking cases ever heard in London.
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Kweku Adoboli, the former UBS AG trader who allegedly caused a $2.3 billion loss from unauthorized trading, will be freed on bail while he awaits trial in London, his lawyer said following a court hearing.
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Kweku Adoboli, the former UBS AG trader jailed over losing $2.3 billion, said financial leaders including JPMorgan Chase & Co. Chief Executive Officer Jamie Dimon and former Barclays Plc CEO Bob Diamond were better at making money because of risks taken earlier in their careers.
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European plans to levy the world’s toughest bonus restrictions on bankers drew condemnation in London as the industry warned it may backfire as firms raise fixed pay instead.
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U.K. stocks advanced, rebounding from the biggest retreat in almost three months, as companies from ARM Holdings Plc to BP Plc reported results that exceeded analysts’ estimates.
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Kweku Adoboli, accused of unauthorized trades that cost UBS AG $2.3 billion, will go on trial next week charged with fraud and false accounting in one of the highest-profile banking cases ever heard in London.
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Kweku Adoboli, the former UBS AG trader accused of causing a $2.3 billion loss for the bank from unauthorized trading, left prison yesterday after meeting bail.
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Bank of America Corp., Wells Fargo & Co. and JPMorgan Chase & Co. were sued by New York Attorney General Eric Schneiderman over the use of a mortgage database that the state said led to improper foreclosures.
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American Express Co., the biggest credit-card issuer by purchases, will pay $112.5 million to settle claims it violated consumer safeguards from marketing to collection in products sold to about 250,000 customers.
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