Chicago downgrades: the takeaways for investors After a recent string of credit downgrades on Chicago, UBS's Thomas McLoughlin says here are the takeaways for investors.
| By: Thomas McLoughlin, head of municipal fixed income at UBS Wealth Management Americas
Billionaire boom may be ending More than 900 billionaires have been created worldwide over the past 20 years, but a new report says the billionaire boom may be about to end.
| By: Robert Frank
UPDATE 1-Alleged Libor ringleader motivated by greed, trial hears *Former trader Hayes goes on trial in London. LONDON, May 26- Tom Hayes, a former trader on trial for allegedly conspiring to rig benchmark interest rates, has admitted to being motivated by greed and was fired by U.S. bank Citigroup in 2010, the prosecution told a London court on Tuesday. Hayes is the first person to be prosecuted over manipulation of the London...
| By: Kirstin Ridley
Former trader goes on trial in UK for market manipulation LONDON- A British prosecutor says a former Citibank and UBS trader motivated by greed served as the ringmaster of the alleged manipulation of a key interest rate, the London Interbank Lending Rate, or Libor. The charges against trader Tom Hayes, who specialized in products pegged to yen-denominated Libor, relate to the period from August 2006 to September 2010.
Source: The Associated Press