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Morocco's trade deficit expands by end: August

Morocco's trade deficit expanded 22.6 percent in the January-August period from a year ago to 122.2 billion dirhams due mainly to higher spending on energy imports, official data showed on Thursday.

S.Africa bonds turn firmer, stocks jump nearly 2 pct

A file picture shows the South African twenty rand note.
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.

UBS Arrested Trader Kweku Adoboli 'Worked Hard,' 'Played Hard' Colleague Says

Kweku Adoboli
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...
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Fiscal fix needed for jobs, investment: Blackrock

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.
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Wall St to open up on Europe, data could weigh

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.
Kweku Adoboli

Facebook Friend Risk: The Kweku Adoboli Dilemma

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 bar

Gold Off As Politicians Vow to Keep Greece in Euro Zone

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.
Kweku Adoboli

Kweku Adoboli: UBS Rogue Trader Reportedly Loses $2 Billion

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.
A file photo of a traffic sign next to an UBS bank logo in Zurich

UBS Says Trader Who Lost it $2 Billion is Arrested

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 Zoellick speaks at a news conference

World Economy in Danger Zone: World Bank Chief

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.
Lightning strikes over the headquarters of Swiss bank UBS during a thunderstorm over the Paradeplatz square in Zurich

UBS Says Rogue Trader Lost $2 Billion

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.
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Goldman asset management CIO Domotorffy retires

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.
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China to pump $47 bln into Tibet to 2015

The Chinese government will pump 300 billion yuan ($47 billion) into restive Tibet over the next five years, with 90.5 billion yuan to finance roads, railways, hydropower stations and other infrastructure, state media said on Wednesday.
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Indosolar in talks with China's GCL for $2 billion solar deal

Indian solar photo-voltaic (PV) cellmaker Indosolar Ltd is in talks with Chinese polysilicon maker GCL-Poly Energy Holdings to tie up a new 4-year solar wafer supply deal, which could be worth up to $2 billion, its chief executive told Reuters on Wednesday.

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