Banking giant UBS said today that it no longer expects to report a loss in the third quarter despite the $2.3bn (€1.74bn) hole left by alleged rogue trading.

THE trader accused of a $2.3 billion (€1.7bn) fraud at Swiss bank UBS is “sorry beyond words”, his lawyer said yesterday, as a court remanded him in custody for another month.

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.

A suspected rogue trader was being questioned today after Swiss banking giant UBS discovered €1.48bn worth of unauthorised deals.

SWISS banking giant UBS said yesterday that a rogue trader has caused it an estimated loss of €1.66 billion, stunning a beleaguered banking industry that has proven vulnerable to unauthorised trades.

A 31-year-old man was arrested in London today in connection with allegations of €1.48bn of rogue trading at Swiss banking giant UBS.