UBS fined £29.7mn over Adoboli scandal
London - AFP
Britain\'s financial regulator said Monday it had fined Swiss bank UBS £29.7 million (36.7 million euros, $47.6 million) for failings that allowed Kweku Adoboli to commit the country\'s biggest fraud. Adoboli, 32, was jailed last week for seven years after gambling away $2.3 billion (1.8 billion euros) of the lender\'s money. \"UBS\'s systems and controls were seriously defective,\" said Tracey McDermott, director of enforcement and financial crime at Britain\'s Financial Services Authority (FSA) watchdog. A jury in London last week found the Ghanaian-born banker guilty of two counts of fraud, though it cleared him of four charges of false accounting.
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Paris - Emiratesvoice
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Taipei - Emiratesvoice
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Paris - Emiratesvoice
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to 'eternal style' of late Alaia
Paris - Emiratesvoice
Two months after legendary designer Azzedine Alaia's sudden death plunged the fashion world into mourning, an exhibition in homage to the "King of Cling" opens Monday in his studios in Paris. The Tunisian-born designer, renowned for the way his clothes hugged the body, died suddenly in November aged 82, reportedly of heart failure after falling down the stairs at his home. The diminutive maverick, who ignored fashion week convention by showing when and where he wanted, in July produced his first couture collection in six years to rapturous reviews. Now some of his most iconic dresses are going on display in the glass-roofed gallery next to his studio and home in the Marais district where he used to show his creations. It includes the dress worn by supermodel Naomi Campbell, his longtime friend and muse, when she led
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