South Africa's government bonds reversed losses on Thursday and yields fell as investors drifted back into local debt to snap up bargains following a couple of days of heavy selling when risk aversion hit emerging markets.
Colleagues at UBS called Kweku Adoboli, the trader arrested in connected with a $2 billion loss due to unauthorized trading at the bank, up and coming and someone who worked hard...played quite hard too. Adoboli, 31, was arrested on Thursday by London police on suspicion of fraud by abuse of position and being held in custody at Bishopsgate police station. A graduate of Nottingham University who was born in Ghana, Adoboli studied computer science in college and went to work at UB...
Hurricane Irene may not have been as damaging as first feared, with a total tab that could reach $2.8 billion, catastrophe analysis firm Eqecat reported.
Gold could rally through $2,000 an ounce by year's end, according to a Thomson Reuters GFMS report released Thursday.
There has been a sweeping drop in the annual number of children under the age of 5 who die, according to the United Nations.
Electric car battery production may exceed demand to such a degree by 2013 that battery prices will plummet. But will the price drop help or delay the advancement of car battery technology?
Embattled miner Silvercorp Metals Inc., caught in a maelstrom of anonymous fraud allegations, said on Thursday it's pushing ahead with a share repurchase plan.
If Facebook’s much-anticipated IPO is off for the year, would its crackerjack board of directors now consider buying Yahoo in a reverse takeover?
The United States needs to use fiscal as well as monetary policy to boost the economy if it wants to convince cash-rich corporations to start hiring and investing, Bob Doll, chief equity strategist of BlackRock Inc said on Thursday at the Bloomberg Markets 50 Summit.
Kweku Adoboli, the 31-year-old London man accused as the rogue trader who cost Swiss banking giant UBS an estimated loss of $2 billion, is a "well-dressed quiet man" of African origin who wasn't the "tidiest" but is very "well spoken," according to a former landlord.
Wall Street was set for a higher open on Thursday after three straight winning sessions on relief European leaders were committed to keeping Greece afloat, but weaker-than-expected data, including jobless claims, kept gains in check.
Another day, another academic study about how retirees should draw down their savings to make sure they last a lifetime.
When a name like Kweku Adoboli instantly becomes public, like the UBS trader who allegedly lost the bank $2 billion in unauthorized transactions and who is suddenly a globally hot Internet search item, many turn to the most public source available -- Facebook, the world's largest social network.
Gold prices slipped below $1,800 an ounce on Thursday as stock markets extended gains, with assurances from Germany and France about keeping Greece in the euro bloc boosting appetite for assets seen as higher risk at the precious metal's expense.
Paul has repeatedly denied that he is a racist (as have his devoted supporters).
Alamos Gold raised its half yearly dividend by 40 percent, the third increase since its first payout in 2010 amid skyrocketing gold prices.
UBS has 65,000 employees. The Swiss bank has global operations, serving approximately 50 countries. The company has been around for nearly 150 years. But one rogue trader -- reportedly a 31-year-old living and working in London -- has apparently brought the company to its knees in embarrassment and financial loss.
Swiss bank UBS AG has said that it has suffered a $2 billion loss stemming from unauthorized trading even as London police arrested a 31-year-old man on suspicion of fraud by abuse of position.
UBS said a trader has lost about $2 billion in unauthorized dealing and warned it might post a loss in the third quarter, a huge blow as the Swiss bank struggles to rebuild its credibility after years of crises.
World Bank President Robert Zoellick said on Wednesday the world had entered a new economic danger zone and Europe, Japan and the United States all needed to make hard decisions to avoid dragging down the global economy.
Switzerland's UBS said on Thursday it had discovered unauthorized trading by a trader in its investment bank had caused a loss of some $2 billion.
Katinka Domotorffy, the head of Goldman Sachs Group Inc's quantitative investment strategies group, will leave the bank at the end of the year, according to an internal memo, as one of its biggest hedge funds continues to suffer from weak performance.
