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Top UBS Banker Attacks City Culture

Iran Missile Test

Banks are "too arrogant" and must undergo sweeping cultural changes, a top banker at UBS said on Wednesday as the Swiss bank was described by the incoming archbishop of Canterbury, Justin Welby, as a "corrupted organisation".

Deutsche Bank Benefited From Libor Trades: Report

Deutsche Bank - External

Germany's Deutsche Bank benefited from trades pegged to the London Interbank Offer Rate (Libor) currently under investigation, the Wall Street Journal reported on Thursday, adding that the bank made at least 500 million euros ($654 million) in profit from the trades in 2008.

Bankers Injured in Manhattan Ferry Crash

Wall Street Sign

A commuter ferry carrying passengers to New York City from New Jersey crashed into a pier near the financial district during rush hour, sending bodies flying and injuring dozens, including two critically, police said.