Catherine Bosley

The new interim boss of UBS has been charged with reorganising its investment bank, a task which will take two to three years to complete.

UBS’s chief executive Oswald Gruebel resigned on Saturday, taking the blame after its banking business lost $2.3-billion in alleged rogue trading.

Anti-capitalist protesters threw bottles at riot police on Saturday and officers responded with water cannon as a small demonstration.

Global business leaders pinned their hopes on roaring growth in emerging markets at the start of the annual Davos forum on Wednesday.