UBS fined £29.7m for Adoboli case

26 November 2012 Last updated at 06:09 ETThe Financial Services Authority (FSA) has fined UBS £29.7m ($ 47.6m) for failings that led to trader Kweku Adoboli losing £1.4bn.The fine, the third largest imposed by the FSA, was for “system and control failings” that allowed him to trade in London well beyond authorised limits.The trader was last week convicted of two counts of fraud and sentenced to seven...

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GSK to raise India unit stake in $940 million deal

MUMBAI (Reuters) – GlaxoSmithKline Plc plans to buy up to an additional 31.8 percent stake in its Indian consumer products arm for about $ 940 million, as Britain’s biggest drugmaker deepens its emerging markets and non-prescription consumer health footprint.The move is the latest in a series of deals by GSK to increase its presence in fast-growing economies and reduce its reliance on traditional...

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Betfair pulls out of Greece over permits row

LONDON (Reuters) – Online gambling exchange Betfair said it would withdraw from the Greek market until there was greater clarity on gaming regulation in the country.Betfair, which has not yet applied for a permit to operate in Greece, questioned the cost and conditions attached to permits required by gaming firms to trade in the country.“According to legal advice received, the value of these permits...

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UN climate talks open in Qatar

DOHA, Qatar (AP) — U.N. talks on a new climate pact resumed Monday in oil and gas-rich Qatar, where negotiators from nearly 200 countries will discuss fighting global warming and helping poor nations adapt to it.The two-decade-old talks have not fulfilled their main purpose: reducing the greenhouse gas emissions that scientists say are warming the planet.Attempts to create a new climate treaty failed...

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‘Gangnam Style’ most watched YouTube video ever

SEOUL, South Korea (AP) — South Korean rapper PSY‘s “Gangnam Style” has become YouTube’s most viewed video of all time.YouTube says in a posting on its Trends blog that “Gangnam Style” had been viewed 805 million times as of Saturday afternoon, surpassing Justin Bieber‘s “Baby,” which has had 803 million views.The blog says the “velocity of popularity for PSY’s outlandish video is unprecedented.”PSY’s...

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Greece Waits for the Next Check From Europe

Given the way the euro crisis has played out during the past three years, it was no great surprise that euro-zone finance ministers were not able to agree in the early hours of Wednesday morning on a formula to reduce Greece’s unwieldy public debt. That is of little comfort, though, for an increasingly anxious Greek government that faces further financial and political pressure as a result of the...

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Europe mulls banning ‘boxes’ for abandoned babies

BERLIN (AP) — German pastor Gabriele Stangl says she will never forget the harrowing confession she heard in 1999. A woman said she had been brutally raped, got pregnant and had a baby. Then she killed it and buried it in the woods near Berlin.Stangl wanted to do something to help women in such desperate situations. So the following year, she convinced Berlin’s Waldfriede Hospital to create the city’s...

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Prankster Replicates Facebook Users’ Profile Photos, Then Friends Targets [PICS]

1.Image courtesy of Imgur, casinoroycasinoroyClick here to view this gallery.[More from Mashable: This App Curates Gifts From Startups for Your Trendy Friends]Everyone has a knack for something. Reddit user CasinoRoy’s talent is creeping out strangers on Facebook, and perfectly replicating their profile photos.[More from Mashable: Facebook to Slow Down After Move to HTTPS [VIDEO]]The prankster searches...

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‘Dallas’ star Larry Hagman dies in Texas

J.R. Ewing was a business cheat, faithless husband and bottomless well of corruption. Yet with his sparkling grin, Larry Hagman masterfully created the charmingly loathsome oil baron — and coaxed forth a Texas-size gusher of ratings — on television’s long-running and hugely successful nighttime soap, “Dallas.”Although he first gained fame as nice guy Capt. Tony Nelson on the fluffy 1965-70 NBC comedy...

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Nine arrests in Walmart protest, business still brisk

CHICAGO (Reuters) – Nine people were arrested near a Walmart store in California on Friday as part of national protests for the rights of hourly workers, even as the world’s largest retailer enjoyed what it said was its best ever start to the holiday shopping rush.Hundreds of protesters, including some Walmart workers who skipped their shifts on the retail industry’s busiest day, spoke, chanted and...

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