Kuwait sheikh sues UBS for $21.4 mn in Dubai court

DUBAI: A Kuwaiti sheikh is suing UBS AG for $21.4 million, alleging the Swiss bank failed to pay him for helping it become lead arranger on a $9 billion asset sale by the Kuwaiti telecommunications operator Zain, a Dubai court heard on Sunday.

Cyprus Immunity Shows Libor Still Broken Rate: U.K. Credit

Libor ignored the crisis in Cyprus that’s roiling financial markets, showing the global benchmark for $300 trillion of securities remains divorced from reality six months after regulators laid out a plan to fix it.

UK regulator fines UBS over investment funds

LONDON: Britain's financial regulator fined Swiss bank UBS 9.45 million pounds ($14.8 million) Tuesday for exposing customers to unacceptable risk in the selling of an investment fund and for failing to deal properly with complaints that followed.

Europe's wealthy families move their fortunes East

Family offices are companies that look after the wealth of rich households who have money tied up in trusts, property, investments and other assets.

Former RBS trader Tan Chi Min claims hedge fund asked UK bank to change Libor

One of Europe's largest hedge funds is alleged to have asked Royal Bank of Scotland to alter the London interbank borrowing rate (Libor) five years ago, according to a court filing by a former trader at the lender.