UBS CEO Gruebel resigns over rogue trading loss

  UBS chief executive Oswald Gruebel has resigned over a $2.3 billion loss caused by rogue trading at its investment division, which is to b...

Jeremy Johnson’s plane, cars, other assets set for Saturday auction

  Utah auctioneer expects lively bidding Saturday, when property owned by St. George businessman Jeremy Johnson, who faces a federal crimina...

European banks head towards another meltdown

  Shares in some of Europe's largest banks fell by 10pc as the cost of insuring European lenders' senior bonds rose to record levels...

signs of an institutional run on French banks

  Christine Lagarde, the managing director of the International Monetary Fund, urged Europe's leaders to bail out their fragile banks, a...

S&P downgrades Italy as Greek austerity row forces global stock markets lower

  The news came after panic gripped global markets as a fresh showdown over Greece renewed fears that the eurozone will be plunged into cris...

UBS raises rogue equity trade losses to $2.3 billion

  Swiss bank UBS on Sunday increased the amount it said it had lost on rogue equity trades to $2.3 billion and alleged a trader concealed hi...

'Rogue trader' Kweku Adoboli faces fraud charges dating back to 2008

  tearful Kweku Adoboli, the alleged rogue trader at the centre of a $2bn (£1.3bn) loss at Swiss bank UBS, appeared before magistrates on Fr...

UBS hit by $2bn rogue trade

  Matthew Czepliewicz, an analyst at Collins Stewart, said the unauthorised loss cuts his 2011 earnings-per-share estimate for UBS by about ...

Down on the Borders

  The bookshelves are wooden skeletons now, and even those were carried out the door. Books too, of course, with hard and soft covers, remem...

FBI raids bankrupt solar venture Solyndra

  FBI agents, acting with inspectors from the Department of Energy, raided the offices of solar panel maker Solyndra on Thursday, just days ...

Harry Winston Diamond Corp. saw its luxury retail sales nearly double along with a modest increase in rough diamond sales

Harry Winston Diamond Corp . saw its luxury retail sales nearly double along with a modest increase in rough diamond sales, but it wasn’t en...

Luxury Home Foreclosures a Deal for Well-Heeled

  Luxurious real estate doesn’t look — or cost — what it used to. “There are $4 million estates in Lutz and the Riverview area that are now...

Swedish carmaker Saab denied bankruptcy protection

  A court on Thursday rejected Swedish carmaker Saab's request for protection from its creditors, it said, pushing the company one step ...

Bosses of banks saved by taxpayer earn more now than before crisis

  The bosses of Britain’s bailed-out banks are paid more than they were before the credit crunch struck, a damning report reveals today. Th...

Share slump hammers Euro banks

  Stocks in Europe and Italian fixed-income securities were pummelled on concern about the euro zone's debt crisis. The benchmark Stoxx...

Swiss bankers demand respect for law from US tax evasion investigators

  Swiss bankers have rejected another UBS-style tax evasion deal following an ultimatum from the United States last week to turn over the na...

Bogus pensions adviser jailed over £1.9m transfer fraud

  bogus financial adviser who fraudulently manipulated his “clients’” pension funds to avoid paying tax of over £1.9m has been jailed at Hul...

SFO probes banks over asset-backed security sales

  The Serious Fraud Office is conducting an examination into banks and their offering of asset backed securities, as part of a ‘scoping exer...

Solyndra, a manufacturer of solar panels, is bankrupt,

Solyndra, a manufacturer of solar panels, is bankrupt, which is inconvenient for the Obama administration, which extended half a billion dol...

Anglo in bankruptcy action on Drumm

Rogue lender Anglo Irish Bank has asked a court in the US to deny its former chief executive discharge under bankruptcy laws. David Drumm co...

Formerly bankrupt companies become M&A targets

Hundreds of businesses crawling out of bankruptcy in the hands of hedge funds and other financial owners are hanging the "for sale...

British banks ordered to disclose debt exposure amid contagion fears

Financial Services Authority (FSA) has stepped up scrutiny of UK banks' exposures to foreign government debt as fears of European sovere...

US is stripped of its AAA credit rating for the first time

The move is a major political embarrassment coming less than a week after high-stakes wrangling among Republicans, Democrats and The White H...

14 alleged members of the mortgage fraud ring include real estate attorneys, title closers, appraisers and straw buyers

14 alleged members of the mortgage fraud ring include real estate attorneys, title closers, appraisers and straw buyers. They were charged w...

Wachovia Gets Dreier-Related Suit Tossed, While Rothstein Suits Settle

The trustee in charge of liquidating the estate of the law firm of convicted Ponzi-schemer Marc Dreier has lost a bid to recover money from ...

Bankrupt Tour Firm Hurting Local Turkish Hotels

The bankruptcy of Britain-based Holidays 4 UK is victimizing Turkish hoteliers, according to the Turkish Culture & Tourism Ministry’s of...

Bankrupt Rhode Island city may default

Even an anti-default state law might not prevent Central Falls, the tiny Rhode Island city forced into bankruptcy by ballooning pension cost...

George Osborne interrupts holiday to make debt crisis calls

Chancellor George Osborne held a round of urgent calls on the financial crisis from his Californian holiday home, including one to Mervyn Ki...

In one of the biggest banks in the centre of Athens a clerk is explaining how his savers have been thronging to pull out their cash.

Wary of giving his name, he glances around the marble-floored, wood-panelled foyer before pulling out a slim A4-sized folder. It is about th...

Insolvency firm Jirsch Sutherland has begun clawing back money former Astarra Asset Management (AAM) director Shawn Richard paid out of his overseas bank account

Insolvency firm Jirsch Sutherland has begun clawing back money former Astarra Asset Management (AAM) director Shawn Richard paid out of his ...