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UBS Says Rogue Trader Caused $2 Billion Loss

By: Philip Reeves // September 15, 2011
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Swiss banking giant UBS said Thursday that a rogue trader caused it an estimated loss of $2 billion, stunning a beleaguered banking industry that has proven vulnerable to unauthorized trades. The swindler reportedly worked at the bank's equity division in London.

Arts & Culture

NPR

'Arrested Development' Leads The Charge For Old Brands In New Media

Brands that found their original audiences in traditional, old-media platforms are finding ways to keep going in the world of new media.

Food

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Nutrition Group Says Chocolate Milk Is OK, No Need For Aspartame

The nation's largest group of nutritionists is urging the FDA to reject the dairy industry's petition to change the definition of milk. The petition aims to allow aspartame or other alternatives to be used to sweeten milk in an effort to boost consumption in schools.

Politics

NPR

Eric Garcetti Wins L.A. Mayor's Race

In a non-partisan race in which two Democrats were the top contenders, the city councilman has edged out City Controller Wendy Greuel.

Technology

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Apple CEO Defends Tax Practices At Senate Hearing

Apple CEO Tim Cook faced tough questions on Capitol Hill on Tuesday. He defended a tax strategy that allows Apple to avoid taxes on tens of billions of dollars of profits. Cook also called on the Congress to lower the U.S. corporate tax rate.

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