UBS

UK/SWITZERLAND - Swiss banking giant UBS has raised its estimate of the losses allegedly caused by rogue trader Kweku Adoboli to $2.3bn.

EUROPE - Ratings agency Moody's has placed UBS' Aa3 rating on review for downgrade following its $2bn unauthorised trading loss.

F&C has strengthened its UK institutional distribution teams with two senior hires at its London office.

Juan Carlos Artigas, investment research manager at the World Gold Council, makes a case for gold as an independent asset class.

Northamptonshire Pension Scheme has increased its bond allocation mandate to US-based Wellington Management to 15% after a key resignation from its second bond manager UBS.