The trial of a City trader accused of losing £1.4 billion while working for Swiss Bank UBS is due to begin. Kweku Adoboli will appear at Southwark Crown Court in London, to face two counts of fraud and two counts of false accounting. The prosecution case is expected to open in a few days time.
Adoboli, 32, Whitechapel, east London, is accused of losing the money in Britain's biggest alleged banking fraud. He worked for UBS's global synthetic equities division, buying and selling exchange traded funds, which track different types of stocks, bonds or commodities such as metals.
Adoboli is accused of dishonestly using his position to try to make a personal gain, and causing UBS losses or exposing the bank to the risk of loss. It is alleged that he lost a total of 2.25 billion US dollars and charges relate to the period between October 2008 and last September.
More top news
The London property market is expected to be the hardest hit as buyers sit it out to see how the economy will be affected.
The former London mayor paid tribute to David Cameron just hours after the Prime Minister announced his resignation.
The pound crashed to its lowest level in 30 years as Britain voted to leave the EU.