U.S. Department of Justice finds execs corrupted competitive bidding process, defrauded municipalities
Alleged episode of rogue trading led to a US$2.3 billion loss
Kweku Adoboli linked with unauthorized trades
Millions of short sale orders affected
Profit forecast includes the US$2.3 billion loss resulting from unauthorized trading
Rising oil prices, improving risk sentiment to support currency
IRS reaches deal to access as to accounts that U.S. investors might have used to avoid taxes
Moody’s Investors Service has placed the long-term debt and deposit ratings of Swiss bank UBS AG on review for possible downgrade, citing the fact that a couple of key investment businesses face bigger challenges than previously thought.The rating agency said Monday that the review reflects its “view of the considerable challenges that UBS continues to […]