Rogue trader guilty of £1.4bn fraud 'thought he had the magic touch'

A rogue trader who lost £1.4bn (€1.74bn) in bad deals which nearly brought down a major international bank was found guilty of two counts of fraud today.

At one point during his run of losses, rising star City trader Kweku Adoboli, 32, stood to run up losses of $12bn (€9.4bn) for employer UBS.