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News & Updates
September 20, 2011 Ethics, ethics everywhere: A day in the life of Canadian BusinessSource: Canadian Business
As a professor, I always make a point of emphasizing to my students that ethics, far from being a niche topic, is actually pervasive in business. Ethics is what differentiates commerce from crime, but commerce also raises lots of...
September 20, 2011 SEC Probes Firms for Trades Before U.S. Rate Cut: ReportSource: The Street
NEW YORK -- Securities regulators have sent subpoenas to hedge funds and other firms as they probe possible insider trading before the U.S. government's long-term credit rating was cut last month, The Wall Street Journal...
September 20, 2011 The Amish Bernie Madoff?Source: Business Insider
An Amish man who promised guaranteed investment returns to thousands of Amish families actually lost half the money, and covered up the losses using a Ponzi scheme that ran for more than a decade, according to a lawsuit filed...
September 20, 2011 Italy criticizes S&P downgrade as politicalSource: AP
ROME — Italy criticized Standard & Poor's on Tuesday for downgrading its credit rating, saying the decision seemed politically motivated and out of touch with reality at a time when the government was working to boost growth and...
September 20, 2011 UBS Board to Meet in Singapore as Kengeter Pledges to Review Risk ControlsSource: Bloomberg
UBS AG (UBSN)’s directors will meet in Singapore, home to the Swiss bank’s biggest shareholder, this week following the disclosure of a $2.3 billion loss from unauthorized trading, according to two people with knowledge of the...
September 19, 2011 UBS did not notice Adoboli's £1.3bn lossSource: BBC News
I have learned that UBS's internal controls did not pick up the massive loss allegedly generated by its trader Kweku Adoboli. The course of events was that on Wednesday Mr Adoboli disclosed to UBS that he had engaged in...
September 16, 2011 Making real changes in corporate governanceSource: Leadership online
In a world where corporate governance has, in recent years, frequently come under the spotlight for all the wrong reasons – people such as Daniel Malan and the work they do, stand out. They strive to instil an ethos of effective...
September 16, 2011 UBS Trader Gets No Miracle as Loss Leads to ArrestSource: Bloomberg
As Switzerland’s central bank imposed a limit on the franc’s appreciation against the euro on Sept. 6, UBS AG (UBSN) trader Kweku Adoboli’s Facebook profile had a plea for his friends: “Need a miracle.” Just over a week later,...
September 15, 2011 UBS Says It Had a $2 Billion Loss From Unauthorized TradingSource: Bloomberg
UBS AG, Switzerland’s biggest bank, may be unprofitable in the third quarter after a $2 billion loss from unauthorized trading at its investment bank. “UBS has discovered a loss due to unauthorized trading,” the Zurich-based...
September 13, 2011 Facebook co-founder says team had 'right kind of ethics'Source: CNN
The founding principles of business ethics at Facebook, according to co-founder Dustin Moskovitz, are as straightforward as the site's privacy settings system. Many of the early developers of Facebook have moved on to work at...
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