Economics

Swiss banking giant UBS has raised its estimate of the losses allegedly caused by rogue trader Kweku Adoboli to $2.3bn (£1.5bn).

WHAT'S THE BEST SAFE HAVEN?

City of London police have charged UBS trader Kweku Adoboli with fraud in relation to the $2bn loss at the bank.

Manager of the Rathbones' Global Opportunities fund has ramped up his cash weighting to 15%, but plans to put it to work over the coming weeks.

Several features of the recession and financial crisis carried the label ‘extraordinary', not least the huge shifts in asset valuations.

Falling share prices are current news, but over the past two years the big issue for new investors is perhaps a different one: that of large falls in yields.

Strategists have predicted inflation will fall back to target in the New Year when the VAT rise is stripped out of figures, freeing the Bank of England to pump in more money to stimulate the economy.

Ratings agencies S&P and Moody's have placed UBS' Aa3 rating on review for downgrade following its $2bn unauthorised trading loss.

Forward-looking company reports on pay and bonuses should be introduced to help resolve concerns over large rewards, Robert Talbut, chief investment officer of Royal London Asset Management has proposed.

Markets have continued to move higher following a co-ordinated effort by the world's central banks to inject liquidity into the banking system.