LONDON (AP) - A former UBS trader accused of losing $2.3 billion in reckless deals told a jury Tuesday that he lost control amid constant pressure from his managers to make profits.
Kweku Adoboli, 32, testified to a London court that managers at the bank were fully aware of what he was doing and
By The Associated Press
Dow Chemical Co. will record a charge of up to $1.1 billion in its fourth quarter tied to its restructuring plans.
The Midland, Mich., chemical company announced last week that it will close 20 manufacturing facilities and eliminate about 2,400 jobs as a means to cope
By SCOTT MAYEROWITZAssociated Press Airlines Writer
NEW YORK (AP) - Hurricane Sandy has left more than 16,000 flight cancellations in its wake.
Chaos at airports? Hardly.
Not long ago, a powerful storm pounding the Northeast would have brought havoc to some of the nation's busiest airports
By SARAH EL DEEBAssociated Press
CAIRO (AP) - A delegation from the International Monetary Fund is back in Egypt for critical negotiations over a $4.8 billion loan to help bolster the country's ailing economy, a presidential spokesman said Tuesday.
It is not yet clear when the formal talks
By CHRISTOPHER S. RUGABER and MARTIN CRUTSINGERAP Economics Writers
WASHINGTON (AP) - Superstorm Sandy will end up causing about $20 billion in property damages and $10 billion to $30 billion more in lost business, according to IHS Global Insight, a forecasting firm.
In the long run, the
By ADAM SCHRECKAssociated Press
BAGHDAD (AP) - Iraqi auditors believe as much as $800 million in U.S. dollars is being sent out of the country illegally each week, draining it of hard currency, according to a report by American inspectors released Tuesday.
The findings point to widespread money
NEW YORK (AP) - The price of gasoline fell Tuesday after Hurricane Sandy left a wide swath of flooding, power outages and disrupted transportation in the eastern U.S.
The national average for a gallon of regular fell by about a penny, to $3.53. That's more than 11 cents lower than a week ago.
NEW YORK (AP) - The New York Stock Exchange will reopen for regular trading Wednesday after being shut down for two days because of Hurricane Sandy.
The exchange said in a statement Tuesday that its building and trading floor are fully operational and that normal trading will resume at the usual
By ALLEN G. BREED and TOM HAYSAssociated Press
NEW YORK (AP) - As superstorm Sandy marched slowly inland, millions along the East Coast awoke Tuesday without power or mass transit, with huge swaths of the nation's largest city unusually vacant and dark.
New York was among the hardest hit,
By GEIR MOULSONAssociated Press
BERLIN (AP) - German Chancellor Angela Merkel's center-left rival in next year's election issued a bold challenge Tuesday to her government - going well beyond legal requirements to state that he earned €1.25 million ($1.6 million) over three years giving