Markets

TURKEY

Former UBS trader Kweku Adoboli has been sentenced to seven years in prison after being found guilty of fraud following a $2.3bn rogue trade at the Swiss bank.

Moody's has stripped France of its AAA rating as Artemis' William Littlewood becomes the latest fund manager to turn more negative on the country.

UBS Global Asset Management has hired BNY Mellon's ex-head of investment solutions Ryan Rajkumar.

US and Asian equity markets rallied overnight as talk of US politicians reaching a deal to avert the fiscal cliff helped sooth investor worries.

GILT SELL-OFF

Investec Bank is offering investors looking for alternative investment ideas the opportunity to invest in a new fleet of aircraft.

RSM Tenon's financial management division has returned to a normal relationship with the FSA after a period of heightened supervision, it has reported.

The UK's accounting rules are distorting bank profits and leading to confusion over executive pay, some of the country's largest investors have have warned.

The Bank of England still has the 'firepower' to boost the economy through another round of quantitative easing (QE), policymaker David Miles had said.