Rogue trader Nick Leeson bankrupts the 200 year old Barings merchant bank

Rogue trader Nick Leeson bankrupts the 200 year old Barings merchant bank

Barings Bank was the world’s second oldest merchant bank and was founded in 1762 by the Baring family of merchants and bankers. From its Cheapside and Mincing Lane offices in London’s Square Mile, the bank oversaw and financed the rapid growth of international trade as the major world powers jostled over the spoils of their…

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UBS rogue trader Kweku Adoboli loses over $2billion of his employer’s money

UBS rogue trader Kweku Adoboli loses over $2billion of his employer’s money

The Swiss investment bank UBS lost more than $2billion when one of its employees performed a series of unauthorised trades. Kweku Adoboli was a director of the bank’s Global Synthetic Equities Trading team at its London offices, and was sentenced to seven years imprisonment for fraud as a result of his crimes. The rogue trader…

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Great Barrier Reef to be given same financial status as high street banks

Great Barrier Reef to be given same financial status as high street banks

  The Great Barrier Reef is to be afforded the same financial status as high street banks after being valued at $42bn.   The reef contributes significantly to the local economy and supports over 64,000 jobs so should be deemed too big to fail like many of the high street banks were during the 2008…

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