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Investment banks

The London Whale Walks Free

Former JPMorgan Chase trader Bruno Iksil was known as “The London Whale” for his huge trades. But those trades often failed to pay off–last year, he tallied more than $6.2 billion in losses. According to Reuters, on Wednesday federal prosecutors in Manhattan criminally charged two former JPMorgan Chase employees with wire fraud and a conspiracy […]

UBS Fined $47.5 Million for Rogue Trading

Fallout From JPMorgan Chase $2 Billion Loss

JP Morgan Chase Announces $2 Billion Loss

Top of the Hour: UBS Faces Serious Consequences For Rogue Trades, Morning Headlines

Top of the Hour: UBS ‘Rogue Trader’ Loses $2 Billion, Morning Headlines

Police in London have arrested a 31-year-old UBS banker Kweku Adoboli for making unauthorized trades that may have cost the Swiss bank $2 billion in losses.

‘Rogue’ UBS Trader Arrested in London

Swiss bank UBS says a “rogue trader” in its investment bank has generated $2 billion in losses by making unauthorized trades. Kweku Adoboli, 31, was arrested this morning by police in London. Louise Cooper, analyst for BGC Partners, a firm specializing in financial services, talks about how this could have happened.

The World

Swiss Bank Secrets: UBS and U.S. Taxpayers

Global Politics

Washington has been fighting for the release of names of Americans suspected of evading taxes by hiding money in Swiss bank accounts. For details, The Takeaway turns to Bill Sharp, a lawyer who represents a number of clients with Swiss bank accounts.

The World

Taking the Pulse of America’s Community Banks

Business, Economics and Jobs

The Takeaway looks at the state of American banking with Mike Menzies, the president and CEO of Easton Bank and Trust in Easton, Maryland.

The World

U.S. tax evasion still legal in Switzerland according to UBS

Conflict & Justice

For the details on UBS’ decision to rebuff the U.S. government’s latest lawsuit, we turn to the BBC’s Imogen Foulkes in Geneva.