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Banking

WireTap 1400 30/01/12

A round-up of the key stories across the specialist financial media, including news that former UBS trader Kweku Adoboli has pled not guilty to charges of fraud and false accounting.


Former UBS trader pleads not guilty

Kweku Adoboli, the former UBS trader, has denied charges of fraud and false accounting following his arrest in a rogue trading scandal.

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Portugal may get little relief from Greek deal

Greek debt swap negotiations that may grant some relief to Athens are generating concern in Portugal, as an agreement would make it more likely that Portuguese investors would be next in line to take a loss.

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Shanghai vows to expand capital markets

Shanghai plans to expand the size of its capital markets and open them more widely to foreign investment by 2015 to further its plans to become a global financial powerhouse.

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Spanish economy contracts

Just two years after emerging from recession the Spanish economy once again shrank in the final quarter of 2011 with austerity restricting spending and Europe’s debt crisis driving up financing costs.

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Germany warns Greece on aid funds

Wolfgang Schäuble has warned that the eurozone may refuse to grant Greece another bailout unless it can convince Europe it can improve its economy.

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