UBS trader loss dwarfed by crisis

UBS’s losses in the financial crisis dwarfed a $2.3bn (£1.4bn) hit from a rogue trading scandal last year and caused longer-lasting damage, lawyers for accused fraudster Kweku Adoboli said in court yesterday. Lawyers have so far argued that Adoboli believed he was trading for the good of the bank. In a fresh tack yesterday, lawyers questioned Tom Naratil ­– finance chief at UBS – on the impact of other losses and probes on the Swiss bank and its share price. The trial continues.