Ben Bernanke has handed the reins at the Fed to his successor but Janet Yellen faces a tricky challenge in weaning the US off quantitative easing without upsetting the global economy, writes Kyran Fitzgerald.

The London market watchdog has launched an investigation into why UBS failed to spot allegedly fraudulent trading which has cost the Swiss banking giant £1.3bn.

A CITY trader wept in the dock yesterday as he appeared in court accused of a £1.3 billion (€1.45bn) fraud at Swiss banking giant UBS.

A UK trader wept in the dock today as he appeared in court accused of a £1.3bn fraud at Swiss banking giant UBS.